Mah Sing Group Berhad (Mah Sing), one of Malaysia’s leading integrated property developers, continues to strengthen its presence in Penang as part of its long-term strategic expansion. Established over three decades ago by Tan Sri Leong Hoy Kum, the group has grown into a key player in the Malaysian property landscape, offering a diverse range of residential, commercial, retail, hospitality and industrial developments nationwide.
In 2024, Mah Sing achieved RM2.41 billion in property sales – its highest annual performance since 2015 – signalling strong market confidence in its offerings. Building on this momentum, the group has set an ambitious sales target of at least RM2.6 billion for 2025. This target is supported by RM3.3 billion in planned new launches, RM2.7 billion in unbilled sales and a strategy centred on accelerating project completions to expedite revenue recognition.
The group also plans to introduce more developments under its premium M Grand Series, aimed at the upmarket segment. This complements the company’s successful M Series, which focuses on affordable housing, thus expanding Mah Sing’s reach across multiple buyer demographics.
With 63 active projects as of May 2025, Mah Sing maintains a strong footprint in Greater Kuala Lumpur, the Klang Valley, Johor, Sabah and Penang – the latter being a strategic northern growth region identified by the group nearly 20 years ago.
Mah Sing’s entry into Penang began in 2009 with the launch of Southbay City in Batu Maung. The initial development, Residence @ Southbay, featured 284 strata superlink homes in a gated and guarded community. This was followed in 2010 by Legenda @ Southbay, comprising low-density, high-end bungalows offering panoramic views of the Penang Bridge.
In 2012, the group unveiled Southbay Plaza, its first mixed-use development in the state, followed by The Loft in 2013, a seafront luxury serviced suite project featuring two 30-storey towers. In 2017, the M Vista project added 237 serviced residences to Southbay City’s portfolio. All five phases in the master development have been successfully sold and completed.
The group continued to diversify in Penang with the 2014 launch of Ferringhi Residence in Batu Ferringhi. Its success prompted the subsequent launch of Ferringhi Residence 2 in 2016. Currently, Tower B is 85% sold, while Towers A and C are scheduled for future release. The development stands to benefit from the upcoming North Coastal Paired Road project, expected to enhance regional accessibility.
Further bolstering its position in the northern corridor, Mah Sing will introduce M Zenni in Southbay City in Q4 2025. This freehold, mixed-use development with a GDV of RM309 million offers 494 residential units in a single 33-storey tower, with layouts designed for first-time buyers, professionals and families. Unit sizes range from 688 sq ft to 1,184 sq ft, with prices starting from RM480,000.
According to Yeoh Chee Beng, CEO of Mah Sing’s property subsidiaries, M Zenni’s design draws from the natural mountain landscape, integrating split-level platforms and earth-toned materials to harmonise with the environment. The project also targets provisional GreenRE Gold certification, reinforcing Mah Sing’s ESG commitments.
Amenities include barrier-free access, wellness areas, co-living lounges, and work pods, reflecting a community-focused, family-friendly ethos that aligns with contemporary living trends.
As at May 2025, Mah Sing retains approximately 18.4 acres of undeveloped land in Southbay City, with an estimated GDV of RM1.7 billion. This provides ample opportunity for future developments that align with the group’s vision of delivering well-designed, sustainable urban environments.
In a move to enhance customer engagement and brand visibility, Mah Sing will relocate its Penang office and sales gallery to a 7,000 sq ft space within Southbay Plaza by July. The new gallery has been designed to offer a more accessible, modern and customer-centric experience.
The group continues to explore strategic land acquisitions across Penang and the northern region to support future projects, in line with its broader expansion agenda. Beyond Penang, Mah Sing sees sustained demand across central, southern and northern Malaysia, with its diversified portfolio – from affordable M Series homes to aspirational M Grand offerings – positioned to address varying market needs.
According to Yeoh, Mah Sing’s strong brand presence, combined with supportive macroeconomic trends such as stable employment, rising wages and policy initiatives including EPF flexible withdrawals and the Johor-Singapore Special Economic Zone, will help sustain demand across its core markets.
As the property market evolves, Mah Sing remains committed to delivering developments that not only meet current demand but also contribute to shaping Malaysia’s future urban landscape.
-The Edge
