THE Penang Development Corporation (PDC) and Mah Sing Group Berhad (Mah Sing) have formalised a partnership for M Cora, a RM528 million gross development value (GDV) mixed development project strategically located near Karpal Singh Drive in George Town.
The signing ceremony, held at Amari SPICE Penang in Bayan Lepas today, was witnessed by Chief Minister Chow Kon Yeow, who is also the PDC chairman. Also present were Mah Sing’s group chief executive officer and executive director Datuk Voon Tin Yow and PDC senior deputy chief executive officer Datuk Mohammad Azhar Hamdan.
Under the agreement, Mah Sing acquired a 2.83-acre site from PDC for RM51.8 million. The site is situated just 450 metres from the upcoming Mutiara LRT Line’s Bandar Sri Pinang station, offering seamless connectivity across Penang Island and to the mainland via Penang Sentral.
Mah Sing’s chief executive officer (property subsidiaries) Yeoh Chee Beng and PDC deputy chief executive officer Roslan Hassan signed the sale and purchase agreement on behalf of their respective organisations.
According to Voon, the project aims to cater to a wide range of buyers, including first-time homeowners, working adults, families, and investors seeking long-term value.
“Subject to authorities’ approval, M Cora will feature two-bedroom condominiums with indicative areas ranging from approximately 904 sq ft to 1,015 sq ft.
“The commercial suites will offer three layout options with indicative sizes of 450 sq ft, 660 sq ft, and 750 sq ft.
“The project is expected to be launched in the second half of 2026, with indicative prices starting from RM426,000,” he said.
Chow said the M Cora project exemplifies how public-private collaboration can spur Penang’s next phase of growth and urban renewal.
“Located near Karpal Singh Drive, this development sits within a rapidly growing district in George Town and will further strengthen Penang’s image as a modern and sustainable city.
“Strategic partnerships like this demonstrate how the combined strengths of the public and private sectors can generate multiplier effects for Penang’s development.
“PDC provides land as a strategic state asset, while Mah Sing brings expertise, experience, and resources to realise high-impact developments,” he said.
Chow added that PDC continues to play a vital role in advancing Penang’s economic progress in line with the Penang2030 vision.
He noted that in the first half of 2025, Penang recorded RM12.5 billion in approved manufacturing investments under the 13th Malaysia Plan (RMK13), expected to create over 11,000 new jobs.
“At the same time, Penang is enhancing its digital capacity through the Penang Digital Economy Master Plan, which targets to increase the state’s GDP from RM116 billion in 2023 to RM156 billion by 2030, with the digital economy contributing 35% of the total GDP,” he said.
Also present at the event were Penang Local Government, Town and Country Planning Committee chairman Jason H’ng Mooi Lye, Penang Social Development, Welfare and Non-Islamic Religious Affairs Committee chairman Lim Siew Khim, and Penang Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu.
Story by Riadz Akmal
Pix by Siti Nuratikah Rahmat
Video by Law Suun Ting