Mah Sing Group Bhd is revising the master plan for its Southbay City development in Batu Maung, following approval to increase the plot ratio. The revision lifts the project’s gross development value (GDV) to about RM1.365 billion.
Its property subsidiaries CEO, Yeoh Chee Beng, said the group received approval from local authorities in 2025 to amend key development parameters. A revised master plan for the remaining 17 acres will be submitted soon, aligned with current market conditions and the company’s evolving priorities.
Yeoh said the updated plan will shift focus towards serviced apartments, replacing a larger office component in the original design, in response to stronger demand in this segment.
He added that the remaining land is expected to unlock greater value through a more balanced and market-driven development mix, while tapping into Penang’s ongoing economic growth.
Launched in 2009, Southbay City marked Mah Sing’s first integrated township. Its initial phase featured 284 three-storey superlink homes within a gated and guarded community.
In 2025, the group introduced M Zenni, a freehold mixed development comprising 10 commercial shoplots and 494 serviced apartment units in a 33-storey tower.
Across the group, Mah Sing is targeting RM2.76 billion in sales for 2026, up from RM2.51 billion in 2025, supported by new launches across key growth areas. These include projects in Setapak, Puchong, Penang, Johor, and Klang Valley, along with upcoming phases of existing developments.
Yeoh noted that the group’s fast-turnaround model will support a robust pipeline of launches in 2026, including projects acquired as recently as last year.
