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Mah Sing and KLK Land in RM274m JV for Johor Industrial Park
KUALA LUMPUR, 19 December 2025 – Mah Sing Group Bhd has formed a strategic joint venture with KLK Land Sdn Bhd, a subsidiary of Kuala Lumpur Kepong Bhd, to acquire and develop 169.62 hectares of freehold industrial land in Kulai, Johor for RM274 million. The project, named MS Industrial Park @ Kulai and located within the Johor-Singapore Special Economic Zone (JS-SEZ), carries an estimated gross…
Mah Sing's new Penang land acquisition and GDV of RM528 million
Mah Sing’s new Penang land acquisition and GDV of RM528 million *Header image is from AI generation and is not M Cora. My recent finding: Penangites are rich or people just love Penang island I travelled to Penang recently and visited two different high rise developments. One has sold whatever is necessary and has a long list of potential buyers. It does have certain size which is less popular…
Mah Sing pays RM260 million for land within KLCC. How big is this piece?
Mah Sing pays RM260 million for land within KLCC. How big is this piece? Land is definitely the best real estate investment. One main reason? It does not grow except if we reclaim them from the sea. These days, it’s becoming more expensive and usually, when a developer buys a piece of land and paying hundreds of million in ringgit, the size is usually also hundreds of acres too. Example?…
Mah Sing has just paid RM392 million for lands in Semenyih!
Mah Sing has just paid RM392 million for lands in Semenyih! Typically, the land price is usually 10-15 percent of the gross development value (GDV). Therefore, if a developer purchases a RM100 million land, then they are aiming for a GDV of probably RM1 billion. Of course, if this piece of land is within the city centre, then land cost versus GDV could be much higher because land price within…
RM 3000 Is All You Need To Start Buying A House On Lazada This December
RM 3000 Is All You Need To Start Buying A House On Lazada This December
As promised, Lazada together with Mah Sing today has revealed more information on how customers are able to purchase houses through the famed e-commerce platform. Available in the form of landed houses and apartments, these houses are in Rawang, Sentul, Cheras, Bangi, and Penang.
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With a starting price of RM 415,000, it goes without saying that customers don’t have to pay the…
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New Post has been published on The Rakyat Post
New Post has been published on http://www.therakyatpost.com/business/2014/11/12/mah-sing-focus-affordable-housing-sector-next-year/
Mah Sing to focus on affordable housing sector next year
KUALA LUMPUR, Nov 12 2014:
Mah Sing Group Bhd will continue to focus on building affordable houses next year, said chief executive officer Ng Chai Yong.
He said 84% of the projects to be launched next year would comprise affordable housing with prices below RM1 million.
“For this year, 87% of the projects launched are from the affordable house segment.
“We will continue to tap the segment next year due to various schemes offered by government to help first-time house buyers as well as the demand for this type of house,” Ng said.
Ng said apart from that, Mah Sing was also keen to grow its land bank from 1,505ha.
“We are looking at acquiring new land so that we can continuously develop more projects,” he told reporters at the ground-breaking of the Southville City Direct Interchange in Bangi here today.
On the strategy to maintain the prices for affordable houses, Ng said the company was constantly reviewing the designs.
“We are looking at simpler building designs and houses which are easier and faster to build.”
The first phase of Southville City is expected to be completed in 2018, and all the residential units are estimated to be completed in 2020.
The 173ha freehold project has an estimated gross development value of RM8.3 billion.
He said the company hoped all the houses would be sold by the first quarter of 2015.
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House prices could rise by 4% with GST
KUALA LUMPUR, June 9:
Property developer Mah Sing Group Bhd expects construction costs for residential houses to increase by 4% after the introduction of goods and services tax (GST) next year.
Executive director for corporate and investment Datuk Steven Ng Poh Seng said the increase would be driven by higher material costs.
“The increase is not a new thing because if there is any change on subsidised price, it will have a direct impact on construction costs,” he said at the sidelines of Invest Malaysia 2014 here today.
He said last year there was an increase in construction costs of about 3% following the cut in fuel subsidy by the government, increase in labour costs and other materials.
For this year, he said, there may be a 3% rise in construction costs due to increases in electricity and natural gas tariffs and a potential further cut in fuel subsidy.
However, he said, demand for properties was not expected to be impacted by the rise in property prices as the gap between demand and supply for the mass market was still big currently.
“Pre- or post-GST, we will still see demand. Perhaps pre-GST we will see more people rushing into it while post-GST we will see people still eyeing properties, basically the mass market.”
Ng said the company would continue to look for land, especially in the Klang Valley, to capture the long-term potential of the area, especially after the completion of high-speed train from Kuala Lumpur to Singapore by 2020.
To date, Mah Sing’s gross development value (GDV) and unbilled sales stood at RM33.9 billion with Klang Valley contributing 62% of the GDV, Penang 11%, Iskandar Malaysia 22% and Sabah 5%.
The company expected residential projects to contribute 71% of sales this year, commercial 25% and industrial 4%, he said.
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Mah Sing Buys Jawi Land For Township Project
KUALA LUMPUR, Dec 10 – Property-based Mah Sing Group Bhd has bought 76.38 acres of freehold land for RM42.59 million to develop a new township, Southbay East, in Jawi, Penang, with potential gross development value (GDV) of RM400 million.
The purchase price will be paid in 18 months. The land was acquired at RM12.80 per square foot.
Group managing director and group chief executive Tan Sri Leong Hoy Kum said the group has found a land that was rightly priced with good payment terms, thus Mah Sing aimed to develop rightly priced houses over three to four years.
“The gated and guarded township, which is the sixth project in Penang but the first on the mainland with clubhouse facilities, will offer products appealing to the mass market, including link homes, linked semi-detached homes, semi-detached homes, town houses and shops.
“We plan to tap on our expertise with township planning in other parts of Malaysia. For example, the development concept of our latest integrated township of Southville@KL South is “connectivity” and “walk-friendly,” he said in a statement today.
Together with Southbay East, Mah Sing’s unbilled sales is about RM3.8 billion, representing about 13 per cent of the group’s RM28.78 billion GDV.
He said Penang also contends with scarcity of land which is seeing the demand for affordable housing expanding to the mainland.
