Buoyed by a robust quarterly efficiency and strategic new land acquisitions, property developer Mah Sing Group Bhd expects the home property market to stay resilient into 2026. The group, which posted a ten.3% rise in internet revenue to RM66.3 million for the third quarter ended September 30, is bolstering its portfolio with a pointy deal with key progress areas, together with Penang.
Supported by strong unbilled gross sales of RM3.14 billion and a deal with fast-track venture completions, Mah Sing is assured of sustaining its efficiency for the remainder of the monetary yr ending December 31, 2025. This optimism is rooted in sustained demand for its venture launches and resilient gross sales momentum.
A key a part of Mah Sing’s progress technique entails strategic land banking. This yr, the group acquired 5 strategic plots with a mixed gross improvement worth (GDV) of RM4.1 billion. Considerably, considered one of these key acquisitions is M Cora in George City, Penang, highlighting the state’s significance within the group’s enlargement plans. This acquisition underscores Mah Sing’s dedication to tapping into the colourful property market of the northern area.
Penang is already a notable contributor to Mah Sing’s portfolio, with M Zenni being its newest venture. The addition of M Cora will additional deepen the group’s presence on this high-demand market, catering to the constant curiosity in properties on the island.
The group’s property improvement section noticed a 15% bounce in working revenue to RM319.6 million for the interval ended September 30, pushed by progressive income recognition from ongoing tasks. Sturdy home fundamentals, together with secure employment and coverage assist for first-time consumers, are anticipated to proceed fuelling housing demand.
Mah Sing’s Founder and Group Managing Director, Tan Sri Leong Hoy Kum, said that the group’s strategic strikes in 2025 have positioned it for sustained progress. With a wholesome steadiness sheet and a portfolio that resonates with consumers, Mah Sing is poised to seize rising demand in key progress corridors, with its increasing footprint in Penang taking part in an important function in its long-term technique.
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