Expanding landbank, initiating new projects, securing more awards and setting higher quality standards on the plate
The extensive land acquisitions by Mah Sing Group Bhd (Mah Sing) throughout the year are testaments to the company's robust performance and underscore its proactive stance in property development. With five strategic land purchases in key locations such as Kuala Lumpur, Puchong, Semenyih and Johor Bahru, the group is actively shaping its trajectory for a successful journey into 2024.
These acquisitions, with an estimated gross development value of over RM5.5bil, include parcels earmarked for M Zenya in Kepong (4.88 acres), M Azura in Setapak (4 acres), M Terra and M Hana in Puchong (8.2 acres), Glengowrie Estate in Semenyih (500 acres) and M Tiara in Johor Bahru (75.7 acres).
“We actively seek strategically located lands to provide more sustainable homes suitable for all walks of life, offering spacious and quality living experiences to enhance homebuyers' lifestyles,” said Mah Sing founder and group managing director Tan Sri Leong Hoy Kum.
In 2023, Mah Sing marked several significant milestones, including the successful delivery of key developments such as the handover of Arena Badminton DBKL Cheras, M Vertica's dedicated ramp at Jalan Cheras, the early completion and vacant possessions of M Vertica's Towers D & E in Cheras and M Adora in Setapak. In addition, M Vertica also earned recognition from the Malaysia Book of Records for possessing the largest residents' facility deck in the country. M Adora attained a QLASSIC score of 85%, marking the group's highest score to date and reinforcing its commitment to delivering high-quality and attainable homes.
Moreover, Mah Sing entered into a joint venture (JV) with the establishment of Mah Sing South Sea Industrial Development Sdn Bhd (MSSSID) to offer a one-stop service solution for foreign businesses looking to set up manufacturing bases in Malaysia, providing the opportunity for the group to grow its industrial properties portfolio.
Throughout this year, Mah Sing received numerous accolades which reflect the group’s commitment to quality, excellence, sustainability, and corporate social responsibility, reinforcing its position as a leading and reputable player in the real estate industry.
“With nearly 30 years of experience as a leading developer in Malaysia, we leverage our expertise to deliver quality products, offering affordably priced housing, especially through our branded M Series. Our commitment to crafting high-quality projects in prime locations with ready amenities, excellent connectivity and practical layouts, is aligned with our tagline Reinvent Spaces. Enhance Life,” said Leong.
Entering 2024, Mah Sing has heightened its focus on environmental, social and governance (ESG) initiatives. A trailblazer in this commitment, Mah Sing is one of the early adopters of Bursa Malaysia's Centralised Sustainability Intelligence (CSI) platform—a comprehensive database for sustainability disclosures by listed companies, local and international suppliers, and supply chains. This platform actively monitors and calculates carbon emissions impact, emphasising the group's dedication to sustainability.
Aligning with its vision of a sustainable and resilient ecosystem, Mah Sing actively encourages its partners to adopt ESG practices and engage in climate disclosures through the CSI platform. This initiative aims to foster standardised reporting among all stakeholders, promoting transparency and accountability.
Mah Sing has adopted the Task Force on Climate-Related Financial Disclosures (TCFD ) reporting framework to strengthen its approach to analysing, monitoring and measuring ESG matters and risks. In 2023, the group has made significant progress in its adoption of TCFD recommendations and is well on its way to developing a comprehensive TCFD report, demonstrating its dedication to transparency and accountability.
Building on its recognition as a constituent of the FTSE4 Good Bursa Malaysia Index since 2021, Mah Sing has consistently improved its ESG performance. As of December 2022, the group boasts an impressive score of 3.6 out of 5.0, reflecting its ongoing efforts to enhance sustainability practices and uphold responsible corporate citizenship.
Moving forward, Mah Sing is set to continue its pursuit of new lands and apply its fast turnaround business model to uphold the group’s success in ensuring quality and attainable homes for Malaysians.
Hence, the planned projects on Mah Sing’s list include high-rise residential developments like M Terra and M Hana in Puchong (RM726mil), M Zenya in Kepong (RM500mil) and the recent M Azura in Setapak (RM508mil) as well as landed homes like M Tiara in Johor Bahru (RM480mil), the RM3.3bil integrated township Glengowrie Estate in Semenyih will take the group’s bold stance into consideration. These projects are targeted to be launched in 2024/2025.
New launches in the pipeline also include the future phases of M Senyum in Salak Tinggi, Meridin East in Johor Bahru, M Residence in Rawang and Southville City in Bangi. Mah Sing also has a multitude of current projects and high-rise developments like M Arisa in Sentul, M Luna in Kepong, M Oscar in Sri Petaling, M Nova in Kepong, M Astra in Setapak and M Minori in Johor Bahru. The landed properties include M Panora in Rawang and as well as the integrated township in Penang, the RM2.7bil Southbay City.
Irrespective of which future project Mah Sing undertakes, every new launch will share the group’s commitment to its ESG and dedication to quality living for a better future for all.
Mah Sing’s 2023 Top Accolades
- Malaysia’s Best Managed Companies 2023, Deloitte
- The Edge Malaysia Property Excellence Awards 2023 – Top Property Developers Awards 2023 – Top 10
- Malaysia Developer Awards 2023 – Top-Of-The-Chart Awards (for Market Cap RM1bil and above) – Top 10
- StarProperty Real Estate Developer Awards 2023 – All-Stars Award, Readers’ Choice Awards – Most Preferred Developer & Most Heart-Warming CSR Initiative
- PropertyGuru Asia Awards Malaysia with iProperty 2023 – Best Lifestyle Developer, People’s Choice Award, Special Recognition in ESG
- BCI Asia Awards 2023 – Top 10 Developers
- The Edge Malaysia ESG Awards 2023 – Silver (Property)
- The Edge Best Managed & Sustainability Awards 2023 – The Edge-ILAM Malaysia's Sustainable Landscape Award – Silver (Landscape Design)
- Malaysia Sustainability Excellence Award
- Sustainability and CSR Malaysia Awards 2023 – Company of the Year