Mah Sing proposes RM2.26 billion industrial park in Johor

Mah Sing Group Berhad is proposing a significant expansion in Johor, Malaysia, through its subsidiary M Industrial Development Sdn. Bhd. The company plans to acquire approximately 169.63 hectares of freehold land in Mukim Senai, Kulai, for RM273.87 million. This acquisition is earmarked for the development of a new industrial park, projected to have a gross development value (GDV) of RM2.26 billion.

The land, spanning 1.7 million square meters, will be purchased from Aura Muhibah Sdn. Bhd. at RM15 per square foot, with the payment to be made entirely in cash. The development, a joint venture between Nova Legend and KLK Land through M Industrial, will be known as MS Industrial Park @ Kulai.

This venture is considered a strategic step for Mah Sing, reinforcing its long-standing presence in Johor. The group has a proven track record in the state, having successfully developed various township and industrial projects with a cumulative GDV of approximately RM4.47 billion as of March 31, 2026. Current residential developments in Johor, encompassing high-rise and landed properties, have an estimated GDV of about RM11.62 billion as of the same date.

Upon completion of this proposed land acquisition and previous ones, Mah Sing's total land bank will increase to approximately 1,085.57 hectares. Johor remains a key growth market for the group, benefiting from its proximity to Singapore, robust regional connectivity, and supportive government initiatives such as the Johor-Singapore Special Economic Zone (JS-SEZ) and the Rapid Transit System (RTS) Link project. These factors collectively enhance Johor's appeal as a regional investment destination.

The acquisition is subject to the terms and conditions outlined in the sale and purchase agreement (SPA) and related amended agreements. Barring unforeseen circumstances, the land acquisition is expected to be completed in the fourth quarter of 2026. The industrial park itself is slated for completion within the next six to eight years.