Mah Sing Group Bhd is set to strengthen its industrial property portfolio with the development of MS Industrial Park @ Kulai, a large-scale integrated industrial development in Johor with an estimated gross development value (GDV) of RM2.26 billion.
The project marks a significant expansion for the property developer following the approval by shareholders at the group’s Extraordinary General Meeting (EGM) for the proposed acquisition of 169.63 hectares (approximately 419 acres) of freehold land in Kulai, Johor.
In a statement, Mah Sing said the strategic development is expected to position the group to capitalise on growing demand for industrial spaces driven by the expansion of advanced manufacturing, logistics, technology, semiconductor-related industries, and digital infrastructure sectors.
The development is also aligned with the growth potential of the Johor-Singapore Special Economic Zone (JS-SEZ), which aims to enhance cross-border economic collaboration, attract high-value investments and strengthen Johor’s position as a regional business and industrial hub.
MS Industrial Park @ Kulai will be undertaken by M Industrial Development Sdn Bhd, a subsidiary in which Mah Sing holds a 60% equity interest, while KLK Land Sdn Bhd will hold the remaining 40% stake. The partnership is expected to leverage the strengths and expertise of both parties in developing a strategic industrial ecosystem in Johor.
The approved land acquisition, valued at RM273.87 million, was completed on a willing buyer-willing seller basis and reflects the fair market value of the land. The transaction was supported by an independent valuation of RM274 million conducted by Knight Frank Malaysia Sdn Bhd.
With the addition of MS Industrial Park @ Kulai, Mah Sing’s total landbank will increase to approximately 1,085.57 hectares, providing the group with a stronger foundation to pursue future growth opportunities across both the industrial and residential property segments.
Subject to obtaining the necessary regulatory approvals, the industrial park is planned to feature a diverse range of industrial offerings, including cluster factories, semi-detached factories and detached factories, catering to the evolving needs of local and international businesses seeking strategic locations in Johor.
Located within one of Malaysia’s fastest-growing economic corridors, MS Industrial Park @ Kulai is expected to benefit from Johor’s improving connectivity, proximity to Singapore, and increasing attractiveness as a destination for investment, manufacturing and supply chain activities. The development reinforces Mah Sing’s strategy to expand beyond residential projects and establish a stronger presence in Malaysia’s industrial property sector.
