An oil palm plantation along the Segamat–Kuantan Highway in Johor has been put up for sale by tender. The freehold land, owned by Chansun Estate Sdn Bhd, spans about 1,153 acres and is split by the highway. It is located დაახლოებით 22km from Segamat town and 13km from Buloh Kasap.
The indicative price of the 103.6-acre tract (foreground) in Gelang Patah said to be RM158 million.
Market sources indicate the plantation is priced between RM150,000 and RM180,000 per acre, translating to a total of roughly RM173 million to RM207 million. Recent land deals in the area were reportedly around RM190,000 per acre. The agricultural land consists of prime-aged oil palm trees on generally flat to gently undulating terrain.
Large estate land sales of this size are uncommon in Johor, as most plantation land is held by major players such as SD Guthrie, Johor Plantations Group, Kuala Lumpur Kepong, and Genting Plantations, which rarely dispose of such assets. However, some of these groups have monetised land by converting estates into industrial parks or township developments.
Separately, several common shareholders of Chansun Estate are also offering a 103.6-acre freehold development site in Gelang Patah, Iskandar Puteri, via tender. The residential-zoned land allows for a density of up to 20 units per acre and is said to carry an indicative price of about RM35 per square foot, or around RM158 million.
The Gelang Patah site is located within the Johor-Singapore Special Economic Zone (JS-SEZ) and is well connected via the Second Link Expressway and JB Parkway. Property consultants note that its proximity to industrial hubs, established residential areas, EduCity and retail centres enhances its appeal, particularly for commuters working in Singapore.
Both tenders are being managed by CBRE | WTW and are scheduled to close on March 18.
