Mah Sing Group Bhd is advancing its strategic expansion in Penang with the announcement of M Cora, a mixed-use development valued at RM528 million. Situated on a 2.83-acre plot in George Town, the project will feature condominiums and commercial suites, with construction scheduled to commence in the latter half of 2026. This initiative underscores the developer’s ongoing commitment to enhancing its footprint in the northern region, building on nearly two decades of contributions to Penang’s urban landscape.
The development will offer two-bedroom condominiums ranging from 904 to 1,015 square feet, alongside commercial suites available in three distinct layouts spanning 450 to 750 square feet, subject to regulatory approvals. Pricing for residential units is set to begin at RM426,000, targeting a diverse clientele including first-time buyers, professionals, and investors. The project’s location is strategically positioned just 450 meters from the forthcoming Mutiara LRT Line’s Bandar Sri Pinang station and benefits from direct access to the Tun Dr Lim Chong Eu Expressway, enhancing its appeal through superior connectivity.
Funding for M Cora will be sourced from a combination of internal reserves and external bank financing, with the final allocation to be determined in line with the group’s financial standing. The land acquisition, executed by Mah Sing’s subsidiary Enchanting View Development Sdn Bhd, was completed for RM51.8 million through a transaction with the Penang Development Corporation. According to the group, the acquisition cost is justified by the site’s prime attributes, projected gross development value, and its role in reinforcing Mah Sing’s regional portfolio.
Tan Sri Leong Hoy Kum, Mah Sing’s founder and group managing director, emphasized that M Cora represents a forward-looking residential and commercial hub within one of Penang’s key growth corridors. He highlighted the group’s continued focus on identifying strategic landbanks in high-potential locations where infrastructure and lifestyle amenities intersect. Leong also affirmed the company’s readiness to pursue additional viable opportunities across Malaysia, leveraging its financial stability and development expertise to cater to both end-users and investors seeking long-term value.