KUALA LUMPUR: Mah Sing Group Bhd
will develop MS Industrial Park @ Kulai, an integrated industrial development in Johor with an estimated gross development value (GDV) of RM2.26 billion.
The project follows shareholders’ approval at the group’s extraordinary general meeting for the acquisition of 169.63 hectares of freehold land in Kulai.
The development would strengthen its presence within the Johor-Singapore Special Economic Zone (JS-SEZ) and position the group to capture rising demand from advanced manufacturing, logistics, technology and digital infrastructure industries, said the property developer in a statement today.
The group said the development of MS Industrial Park @ Kulai would be undertaken by M Industrial Development Sdn Bhd, a 60-per cent owned subsidiary of Mah Sing, with KLK Land Sdn Bhd holding the remaining 40 per cent equity interest.
The approved land acquisition of RM273.87 million was concluded on a willing buyer-willing seller basis and reflects fair market value, supported by an independent valuation of RM274.0 million by Knight Frank Malaysia Sdn Bhd.
With MS Industrial Park @ Kulai, Mah Sing's total landbank would increase to 1085.57 hectares, providing the group with a stronger platform to pursue future residential and industrial growth opportunities.
Subject to the relevant approvals, MS Industrial Park @ Kulai is planned to comprise a diversified mix of cluster, semi-detached and detached factories.
Barring unforeseen circumstances, the acquisition of MS Industrial Park @Kulai is expected to be completed in the fourth quarter of 2026, with development targeted to commence thereafter. - Bernama Mah Sing, MS Industrial Park @ Kulai, acquisition, JS-SEZ
