This article first appeared in City & Country, The Edge Malaysia Weekly on September 21, 2026 - September 27, 2026

Boosted by a stellar first half, CPI Land Sdn Bhd has reaffirmed its RM2.4 billion gross development value (GDV) target for new launches despite market headwinds.

“Rising costs and market uncertainties are very challenging for the entire industry, not just for CPI Land. For us, we plan everything well ahead and always work with a strict master timeline. We did hold [back] some awarding of contracts when the diesel price peaked, but generally, it doesn’t affect our construction progress or cash flow,” says CPI Land founder and chairman Chung Shan Tat.

“We are well on track to launch projects with a total of RM2.4 billion in GDV this year — no changes despite market headwinds. In fact, we are optimistic about the domestic market. The [property market] sentiment remains positive,” says Chung, during an interview at the company’s newly expanded head office at Mid Valley City, Kuala Lumpur.

He says sales and construction progress for its ongoing projects are on track, setting the stage for what promises to be a landmark year for the company.

This momentum is driven mainly by the RM765 million Tuan Straits Residency in Salak Selatan, Selangor, launched in March. The high-rise residential project, its first launch of the year, achieved a take-up rate of over 40% within two months of launch.

“I always believe a good product will speak for itself. If the location is good, the price is right and the product is correct, the project will do well naturally, no matter when. We have been carefully planning our new launches around this winning formula, while continuing to outdo ourselves, especially in product innovation and the project’s design concept, ensuring CPI Land is always relevant in this dynamic property market,” Chung says.

The same approach applies to its second launch for this year — the last landed residential development in Taman Selayang Mulia in Selayang, Selangor, he adds.

The 50.73-acre RM658 million landed residential development is the final part of the 105.7-acre Taman Selayang Mulia.

“This is the last piece of development land within the Taman Selayang Mulia master plan. We purchased the site from the master developer, Selangor Properties Bhd, in 2024 with KM (development order) approved. This new development will have a total of 828 terraced houses, nestled within a guarded community,” Chung says.

The residential project, which comes with individual land titles, will be developed over three phases. It will have 404 double-storey terraced houses (with lot sizes ranging from 16ft by 69ft to 16ft by 75ft) and 412 three-storey terraced houses (16ft by 69ft to 20ft by 90ft), with selling prices starting from RM650,000. The show units for the 219-unit first phase have been open for public viewing since Aug 3. The project will be officially launched in 4Q

“Taman Selayang Mulia is a mature housing estate, with most of the existing houses there being old and tired. If you drive around the area today, you will see some houses have been remodelled, showing that there is strong demand for new, modern landed houses there,” says CPI Land’s general manager for sales and marketing Eva Loo.

The project caters to the second-generation residents in the neighbourhood, upgraders and expanding families in the vicinity and beyond. Every unit comes with at least three bedrooms, with some having an extra bedroom on the ground floor that can be used by multi-generational families as the grandparents’ room or children’s playroom.

Flanked by the Sungai Tua and Bukit Lagong forest reserves, the project focuses on a connection with nature, wellness, recreation and community living. A public park and linear parks will wind through the development, and it will come with recreational facilities such as a basketball court, Sundial Plaza and scenic observation areas, children’s playground and back-lane green pocket spaces.

“There are currently three guard posts in Taman Selayang Mulia. Upon the completion of our project, we will add one more to further enhance the security of the entire master plan,” says Chung. “We will also undertake refurbishment and upgrading works at all three existing guard posts as part of our CSR (corporate social responsibility) project.”

Beyond bricks and mortar, CPI Land has engaged with the Taman Selayang Mulia Residents’ Association (RA) in a series of meetings. These discussions demonstrate the developer’s commitment to minimising disruptions to the neighbourhood during the 36-month construction period, while also preparing the RA to integrate new homebuyers into the community.

“As our site is located at the deeper end of the master plan, which is hugged by the natural forests, we are also going to build a new access road that connects the main access road to our project. It bypasses a few stretches of internal roads and can save a good 10 minutes’ driving time to the main access road from our site,” says general manager for project Chen Hoong Wai.

To ensure the safety and quality of the project, the company has invested half a million ringgit in site assessments and earthworks before construction commenced, he adds.

“While the land was bare land, there were some retaining infrastructure structures there, which were done years ago by the master developer. We conducted a lot of safety assessments on those structures because we never compromise on safety,” Chen says.

“Along the way, we also discovered old pipelines and utilities, so we are doing thorough assessments. Wherever a retaining structure does not meet today’s engineering requirements or our consultants’ standards, we tear it down and rebuild it.”

He adds that the earthworks are being handled with extra care as the site is hilly.

“The consultants have worked very hard on the design to ensure platform levels comply with the current stringent guidelines. Because the site is huge at over 50 acres, and we are clearing it at one go, we have to carefully manage the sequence of phases and handle extensive hillslope treatments to ensure stability.

“Slope mitigation is very stringent now, so we have invested quite a bit [of investment] to make sure the site is completely safe. As of now, we have spent almost half a million ringgit just on the site assessments.”

Loo is confident the entire first phase will sell out within three months of its launch.

“It is not just a target plucked from the air,” she laughs. “It is based on feedback from marketing agencies that we engaged for this product. All of them are positive about the product at this location. In fact, we are receiving overwhelming response [judging] from the registration of interest.”

She says the location is a major draw. “We simply do not have competitors in this location for landed residential projects like this. The nearest will be in Rawang, but most of them are easily selling at RM800,000 and above for sizes similar to ours. With the first phase pricing at RM650,000, I think our sales target is achievable.”

In addition, the developer is taking a different approach to boost the booking-to-sales conversion rate for the development — only buyers with pre-approved bank mortgages can place a booking fee when the project is ready for sale.

“We only have this number of units and we want to attract genuine homebuyers who long for an affordable new landed home at a mature location like this. For this project, we don’t really prioritise investors,” Loo says.

She aims to launch all three phases within a year, and fully sell the units before the completion of the entire development, which is 36 months from the first signing of the sales and purchase agreement.

With regard to CPI Land’s last and biggest launch of the year, which is a high-rise residential development at Permas Jaya, Johor Bahru, Chung says the team submitted the application for planning permission to the local authority in June.

“We are currently resolving some minor land matters and preparing the building plans. The progress is actually well ahead of our schedule. We are also preparing our sales gallery there and planning the renovation submissions. We plan to do a soft launch by the last quarter of the year,” he adds.

The project, which has an estimated GDV of RM1 billion and is targeted at local homebuyers, is CPI Land’s first in the southern part of the peninsula. It will occupy a 6.6-acre piece of land and offer 2,299 condominium units across two towers.

“While global geopolitical tensions and localised economic shifts inevitably create ripples across global supply chains, our core structural plans remain steady. As our primary baseline target is the highly resilient domestic mid-tier and owner-occupier segments, our sales velocity is largely insulated from external volatility,” Chung explains.

With a clear direction and market positioning, supported by well-received product launches, CPI Land has a strong foundation from which to achieve its target to roll out new launches with RM1 billion in GDV annually over the next five years.

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