In a Bursa Malaysia filing, the company said that the proposed development on the land, totalling 23.9 hectares (ha), is expected to have an estimated gross development value (GDV) of about RM463 million.

Named M Tiara 3, the township will feature spacious super-linked homes with indicative home prices starting from RM780,000.

“The acquisition of M Tiara 3 marks the Group’s fifth land purchase this year. It is also the third acquisition in Pulai, following the acquisition of 40.6ha of M Tiara 2 land in April 2024, and 30.6ha of M Tiara land in June 2023,” it said.

With M Tiara 3 strategically positioned to capture the spillover demand from M Tiara, its acquisition represents a strategic opportunity to further expand the group’s presence in Johor Bahru.

Mah Sing noted that M Tiara garnered over 14,000 registrations of interest and achieved a 100% take-up rate for international lots in its first two phases.

“The Group is optimistic about the Johor Bahru property market, driven by recent developments like the Johor-Singapore Rapid Transit System and the Johor-Singapore special economic zone, which have enhanced market momentum and growth potential,” it added.

Subject to market conditions and the relevant authorities’ approvals, the project is expected to be developed over three to four years.

The commencement of M Tiara 3 is expected to follow as a continuation of M Tiara 2.