This article first appeared in City & Country, The Edge Malaysia Weekly on March 16, 2026 - March 22, 2026

CPI Land Sdn Bhd founder and chairman Chung Shan Tat was in good spirits when City & Country sat down with him in the Tuan Straits Residency sales gallery. The soon-to-be-launched project is the fourth collection in CPI Land’s Tuan series.

The early market feedback for the developer’s first launch of the year has been encouraging, he shares with a smile.

“The 4.67-acre site of Tuan Straits Residency in Salak Selatan, Selangor, is one of the lands we acquired last year. We will launch the project in the second quarter (2Q) of this year. At the same time, we are working on a project in Selayang, as well as our first development in Johor. Altogether, we are looking to launch three projects this year with a combined GDV (gross development value) of RM2.4 billion,” says Chung.

This marks a step up from 2025, when CPI Land launched only one project called Permata Gemma at Permata Heights in Gombak, Selangor. The 60 bungalows and semi-detached houses were officially launched in July last year, and more than 90% of the units were snapped up within a few months, contributing to the company’s sales of RM150 million last year. The project was also the first luxury landed development for the urban high-rise residential builder.

“For the company, 2025 was a year of strategic preparation and positioning. While we adopted a more measured launch approach, the year was highly productive in strengthening our pipeline and future growth trajectory,” says Chung. “It was an intensive year for land acquisition and evaluation. We actively explored and secured several strategic land bank that will support our business development plan over the next few years.”

The long-term business development plan includes product diversification and footprint expansion, both of which will contribute to the company’s mid-term target of going public on Bursa Malaysia, he adds.

Chung foresees that last year’s land acquisitions will be sufficient to sustain the company’s launches over the next two years, providing both strong visibility and flexibility in planning as well as enabling the developer to hit an ambitious sales target of at least RM700 million this year — a significant jump from RM150 million last year.

“In many ways, 2025 was less about volume and more about building a solid foundation for sustainable growth, ensuring that we are well positioned for the next phase of growth, including a potential listing on Bursa Malaysia within the next few years … We are now at the stage of planting trees. When the time comes to harvest the fruits in the next few years, that will be when we move towards an IPO (initial public offering),” explains Chung.

Tuan Straits Residency is the company’s first property launch this year. The purely residential project will offer 1,310 serviced apartment units spread across two blocks of 44 storeys and 43 storeys. The project has a GDV of RM765 million.

There will be four types of unit layouts with one standard built-up of 840 sq ft. Each unit will have three bedrooms and two bathrooms, and come with two parking bays. The corner units will have extra windows and some units will have direct access to the garden at the facilities floor on Level 8. The project is set to be launched in 2Q2026 with a selling price starting from RM566,800, or RM675 psf.

As with the previous three instalments under the Tuan series, the design concept for Tuan Straits Residency builds on the series’ DNA of highlighting Malaysia’s unique history and cultural roots, but takes a more refined and expressive approach by reinterpreting Straits and Peranakan architecture for contemporary high-rise living, says general manager for project Chen Hoong Wai.

“The project blends heritage elements, such as louvre shutters, angin (breeze) blocks, verandah expressions and shopfront-inspired façades with clean, modern architectural lines. These features are not just for aesthetic purposes, but are also functional — supporting natural ventilation, shading and a climate-responsive design,” Chen explains.

Another key differentiator is the arrival experience, where residents will be welcomed by a palm-lined boulevard leading to the iconic Peranakan shophouse-inspired frontage of the building, creating a sense of identity and place from the moment they arrive.

In terms of lifestyle, the project will feature a range of facilities on Level 8 and Level 8A, including a swimming pool, gymnasium, Pilates studio, pickleball court, co-working spaces, multipurpose hall and private dining areas.  The estimated maintenance fee is 35 sen psf.

There will be a wetland landscape on the ground floor, which can be accessed via a dedicated pedestrian path, allowing residents to move safely while enjoying a calm, nature-focused transition within the development.

General manager for sales and marketing Eva Loo says the target market for the development are first-time homebuyers and those looking to upgrade within the surrounding area.

“Just like our previous instalments under the series, we continue to focus on offering reasonably priced, thematically designed homes that appeal to this demographic. Equally important to us are the green and sustainable features, such as EV (electric vehicle) charging bays, solar and motion sensor lighting in the common areas, as well as solar panels to generate power for the common areas. These are the key features in reducing long-term maintenance fees, which homebuyers nowadays are very much mindful of,” Loo says, adding that the project has a provisional GreenRE certification.

Tuan Straits Residency has easy access to major highways such as the North-South Expressway, Maju Expressway, New Pantai Expressway and Shah Alam Expressway. The project is also surrounded by ready amenities.

“Salak Selatan presents significant potential for both residential and commercial developments. The area is strategically located with good connectivity to major highways and is close to Kuala Lumpur town, Kuchai and Taman Desa. With a mature population and well-established amenities, we are confident of the market response once the development is launched,” says Loo.

The project is expected to be completed within the first half of 2030.

CPI Land is concurrently working on the second launch of the year in Taman Selayang Mulia, Selangor, aiming to unveil the sales gallery in April.

Located on a 50-acre tract, the development will comprise 828 two- and three-storey terraced houses with an estimated GDV of RM570 million.

“It was a long-abandoned project and we have been trying to revive and officially launch it since last year. However, the process of getting the authorities’ approval took longer than expected. And finally, we have obtained all the necessary approvals and the sales gallery is almost ready. We are targeting to launch the project in 2Q this year,” says Chung.

At the same time, he is working on the company’s first project in Johor. The development on 6.6 acres in Permas Jaya, Johor Bahru, will offer 2,299 condominium units spread across two residential towers. Targeted at local homebuyers, it is set to be launched in the second half of this year.

“The project will be our biggest launch in terms of GDV so far. It has a GDV of RM1.1 billion,” Chung points out. “The Johor property market is full of potential due to the improving infrastructure and more economic activities, but we are taking a different approach [from our peers]. Instead of building near the RTS (Johor Bahru-Singapore Rapid Transit System) and targeting investors, we will serve the local homebuyers’ market.”

Well connected owing to the Permas Bridge, the project is nestled within the established Permas Jaya area and a short drive from the Bukit Chagar RTS Station. The developer is targeting the local mass market with an estimated selling price from RM570 psf, or about RM450,000.

“Our development is very affordable compared with the over RM1,000 to RM1,200 psf on the other side of the bridge. For RM450,000, you may be getting a shoebox unit near the RTS station, but we can offer you a comfortable three-bedroom unit, and it is freehold,” Chung points out.

Chen adds that the development will provide a wide range of lifestyle facilities at the podium, including a green space and landscaping.

“The two blocks will share the same podium and facilities. We are looking to launch one tower first, followed by the other. However, construction will be carried out simultaneously and we are planning to hand over both blocks at the same time,” he says, adding that this decision was made to ensure that the overall design concept and landscape are centralised.

Chen highlights that the project, currently working under the name Tuan 5, will be the fifth instalment of the company’s signature Tuan series, bringing the series’ DNA to the Johor market.

“It is our first project in Johor, and we are ensuring that it will combine the best elements from our previous Tuan instalments for the local market. While the design is still on the drawing board, the concept will blend colonial and Peranakan influences, reflecting Malaysian culture,” says Chen.

Commenting on the property market outlook this year, Chung foresees that it will remain stable with selective growth, driven by demand for well-located, thoughtfully designed homes.

“Buyers today are increasingly looking to fulfil their emotional needs, not just a roof over their heads. Opportunities lie in areas with strong connectivity and lifestyle appeal, while challenges include rising construction costs and discerning buyers,” he adds.

Chung says the company is mitigating these risks through prudent land banking, careful cost management, and maintaining high design and quality standards, ensuring sustainable growth and value for its buyers.

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