M Zenni – Mah Sing’s new launch in Batu Maung

Buoyed by a strong quarterly performance and strategic new land acquisitions, property developer Mah Sing Group Bhd expects the domestic property market to remain resilient into 2026. The group, which posted a 10.3% rise in net profit to RM66.3 million for the third quarter ended September 30, is bolstering its portfolio with a sharp focus on key growth areas, including Penang.

Supported by solid unbilled sales of RM3.14 billion and a focus on fast-track project completions, Mah Sing is confident of sustaining its performance for the rest of the financial year ending December 31, 2025. This optimism is rooted in sustained demand for its project launches and resilient sales momentum.

A key part of Mah Sing’s growth strategy involves strategic land banking. This year, the group acquired five strategic plots with a combined gross development value (GDV) of RM4.1 billion. Significantly, one of these key acquisitions is M Cora in George Town, Penang, highlighting the state’s importance in the group’s expansion plans. This acquisition underscores Mah Sing’s commitment to tapping into the vibrant property market of the northern region.

Penang is already a notable contributor to Mah Sing’s portfolio, with M Zenni being its latest project. The addition of M Cora will further deepen the group’s presence in this high-demand market, catering to the consistent interest in properties on the island.

The group’s property development segment saw a 15% jump in operating profit to RM319.6 million for the period ended September 30, driven by progressive revenue recognition from ongoing projects. Strong domestic fundamentals, including stable employment and policy support for first-time buyers, are expected to continue fuelling housing demand.

Mah Sing’s Founder and Group Managing Director, Tan Sri Leong Hoy Kum, stated that the group’s strategic moves in 2025 have positioned it for sustained growth. With a healthy balance sheet and a portfolio that resonates with buyers, Mah Sing is poised to capture growing demand in key growth corridors, with its expanding footprint in Penang playing a crucial role in its long-term strategy.

A mixed development proposed near Taman Bukit Kecil Indah in Bukit Mertajam. Strategically located on a 3.45-acre parcel along Jalan Song Ban Kheng and within a short walking distance to SJKC Beng Teik. The site benefits from close access to surrounding townships and various amenities located just minutes away.

The planned development consists of a 34-storey residential block, featuring 420 units of affordable housing, each measuring 950 sq ft. It also includes eight ground-floor commercial units, a multi-storey car park spanning the ground to the sixth floor, as well as a facility floor with swimming pool and gymnasium.

The project is still in its planning stage and more details will be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name : (to be confirmed)
Location : Bukit Mertajam
Property Type : Mixed development
Tenure: (to be confirmed)
Land Area: 3.93 acres
Built-up Size: 950 sq.ft.
Total Units : 420
Indicative Price : (to be confirmed)
Developer : (Follow us to find out more)

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

The Housing and Local Government Ministry plans to table the Real Property Development Bill in June 2026, marking a significant update to Malaysia’s regulatory framework for the property sector. According to Minister Nga Kor Ming, the proposed Bill will replace the long-standing Housing Development (Control and Licensing) Act 1966, offering a more modern and responsive system that better protects homebuyers.

Nga explained that the new legislation is designed with two core objectives. The first is to broaden regulatory oversight beyond residential developments to include commercial projects. The second aims to update legal provisions to reflect current market needs, including different development concepts and land types. He emphasised the need for a flexible framework capable of adapting to future changes within the industry.

The Real Property Development Bill forms part of five major reforms the Ministry plans to implement by 2026. These include the introduction of the electronic Sales and Purchase Agreement (eSPA), the Housing Integrated Management System (HIMS), the Transforming and Empowering Data Usage in Housing (TEDUH) initiative, and enhanced audits for Housing Development Accounts.

Several proposals are being reviewed under the Bill. Among them are the standardisation of penalties for serious or repeated offences, stronger safeguards for buyers in terms of payment collection and quality assurance, and clearer technical audit and investigation powers to identify problematic projects earlier.

Nga said the government’s efforts aim to create a more transparent, organised and resilient property development ecosystem in line with the Malaysia Madani vision and broader structural reforms in the housing sector.

He also highlighted the benefits of the forthcoming eSPA system, which will allow digital signing, secure identity verification via eKYC, and automatic integration with the Inland Revenue Board’s eStamping platform. This is expected to streamline processes, reduce administrative time and costs, and improve efficiency.

According to Nga, if implementation proceeds smoothly, the eSPA initiative could generate up to RM8 billion in government revenue next year, reflecting its potential impact on both buyers and the property market.

About Queens Residences 3

The third phase of the Queens Waterfront development by Ideal Property Group (also known as Q3), situated near Queensbay in Penang. Positioned strategically on reclaimed seafront land directly opposite Queensbay Mall, it’s an expansion of the successful Q1 and Q2. The new phase of development will introduce another 532 residential units, offering a choice of five different layouts ranging from 950 sq.ft. to 1,400 sq.ft.

Find out more about Queens Residences 3

Sejahtera 113 is a high-rise residential development by Golden RCH Development Sdn. Bhd., located in Bukit Mertajam. Situated off Jalan Sejahtera 1, within the vicinity of Taman Sejahtera in Alma, it is just a few minutes’ drive from the intersection of Jalan Kulim and Jalan Rozhan, and approximately 3 km from AEON Mall.

The development features a 26-storey tower atop an 8-level car parking podium and offers 113 affordable housing units. Facilities are located on level 8. Sejahtera 113 boasts ceiling heights of up to 4.5 meters and a thoughtfully designed layout with a 3+1 room concept.

Project Name : Sejahtera 113
Location : Alma, Bukit Mertajam
Property Type : Condominium
Tenure: Freehold
Land Area: (to be confirmed)
Built-up Size: 900 sq.ft.
Total Units : 113
Indicative Price : RM410,000 onwards
Developer : Golden RCH Development Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.