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GEORGE TOWN (April 10): Mah Sing Group Bhd (KL:MAHSING) is revising its masterplan for Southbay City in Batu Maung with an increased plot ratio and new gross development value (GDV) of approximately RM1.365 billion.
Its property subsidiaries chief executive officer Yeoh Chee Beng told The Edge that the group had received the green light from local authorities in 2025 to amend the key development parameters and increase the plot ratio.
The group will soon submit a revised master plan for the remaining land parcels totalling 17 acres, aligning with current market conditions and its evolving business priorities.
“The GDV of Southbay City following the revision will be raised to RM1.365 billion.
“The development will take into consideration the progressing environment to capture opportunities arising from Penang’s economic growth,” Yeoh said in a reply to The Edge.
According to Yeoh, the original masterplan featured a higher proportion of office components. The revised version "will place greater emphasis on serviced apartments".
"Our feedback shows stronger demand in this segment.
“We believe the remaining land in Southbay City, Penang, will unlock greater potential and create enhanced value compared to earlier plans," he said.
In line with evolving market dynamics, we see strong opportunities within the remaining 17 acres and aim to optimise the land through a well-curated mix of developments that better align with current demand and future growth,” Yeoh added.
Southbay City in Batu Maung was launched back in 2009 as Mah Sing's first ever integrated township development.
The initial phase of the 22.2-acre landed strata development comprised Residence@Southbay, featuring a gated and guarded community with 284 three-storey superlink homes.
In 2025, the group launched M Zenni in Southbay City. This freehold high-rise mixed development comprises 10 commercial shoplots and 494 serviced apartment units within a 33-storey tower.
For the wider group, Mah Sing is targeting sales of RM2.76 billion in 2026, compared to RM2.51 billion in 2025, as it set its sights on innovative and popular products aligned with current market demand in key growth corridors.
Following the recent launch of M Aria in Sentul and M Aurora in Old Klang Road, the group has scheduled several new launches for 2026.
This includes M Mira in Setapak, M Hana in Puchong, M Cora and M Amaya in Penang, M Tiara 2 and MS Industrial Park @ Kulai in Johor, as well as future phases of existing projects, namely M Legasi in Semenyih, M Sinar Tower B in Southville City, Bangi, as well as M Grand Minori and Meridin East in Johor.
The group’s fast-turnaround model enables a rapid launch schedule for 2026, said Yeoh, featuring some projects acquired just last year.
Click here to view new and upcoming property launches in Malaysia.
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