Mah Sing founder and group managing director Tan Sri Leong Hoy Kum.
KUALA LUMPUR: Mah Sing Group Bhd
has acquired 5.99 acres of freehold land at Taman Pelangi, Johor Bahru just 3km from the upcoming Johor-Singapore Rapid Transit System (RTS) Link’s Bukit Chagar Station.
The property developer, in a statement, said the new land will be named M Grand Minori and is planned for the development of premium serviced apartments and some retail units with an estimated gross development value (GDV) of approximately RM1.5bil.
Mah Sing said the development targets a variety of buyers, including first-time homeowners, upgraders from nearby areas, Malaysians working in Singapore, Singaporeans, and other foreign buyers. Registration of interest is expected to start in the second quarter of 2025.
This marks the group’s sixth acquisition in 2024, bringing the total GDV of all six lands to RM5.8bil.
M Grand Minori is the group’s latest project in Mukim Plentong, further strengthening its presence in the area. It has previously established its presence in the area with developments such as Sierra Square, a retail shop-office project, and Meridin Bayvue, which offers apartments and retail lots in Sierra Perdana.
Sale and purchase agreements (SPAs) were signed with Pelangi Sdn Bhd, a subsidiary of S P Setia Bhd today for RM156.8mil.
The land is located in the heart of Johor Bahru's Central Business District, just 3km from the Bukit Chagar RTS station. This strategic location offers easy access to various amenities, which will add value to the M Grand Minori community in the future.
Subject to authorities’ approval, M Grand Minori will include premium serviced apartments with four layout options and retail units. Prices start at RM328,000.
Founder and group managing director Tan Sri Leong Hoy Kum said that the decision to acquire more land in Johor was driven by strong demand for properties, boosted by spillover interest from Singapore due to its proximity and relatively affordable property prices.
Additionally, the ongoing infrastructure projects, such as the RTS Link, and the government’s commitment to enhancing Johor's economy, create a promising environment for growth.
“With our strong brand recognition in the region, we are confident that this is the right time to further expand our presence, as improved connectivity and a booming property market provide excellent development opportunities,” Leong said.
“Johor Bahru has been a key market for us since we launched our first township here in 2000, and Mah Sing has been actively operating in the region for over two decades.
“In 2024, we acquired three lands in Johor. In April, we acquired 100.4 acres of land, named M Tiara 2. In December, we acquired 59.12 acres of land, named M Tiara 3, and our most recent acquisition is M Grand Minori. Our commitment to Johor remains strong, and we are continuously seeking new opportunities to expand our landbank for townships, industrial projects, and M Series developments,” he added.
