Data Center · Fortune Technology
Mah Sing sees natural ‘spillovers’ from Malaysia’s strong growth, as the conglomerate bets on premium residences and data centers
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A Malaysian property developer founded six decades ago as a plastics trader is repositioning itself for the artificial intelligence era, leveraging land banks in the Klang Valley and Johor to court data center operators.
Key facts
- Mah Sing was founded in Kuala Lumpur in 1965 by Leong’s father, Tan Sri Leong Hoy Kum
- Mah Sing has recently acquired land fewer than 500 meters from Kuala Lumpur’s city center, and hopes to roll out a “premium offering” later this year, Lionel Leong, Mah Sing’s deputy CEO, told Fortune
- It was hot, but he’d be on the ground talking to all the technical personnel
- While the firm began as a plastics company, Mah Sing pivoted hard towards property development in 1994
Summary
Mah Sing, No. 422 on Fortune ’s Southeast Asia 500 list, had a blockbuster 2025, reporting decade-high real estate sales of 2.51 billion ringgit ($633 million); the conglomerate also lifted its 2026 revenue guidance to 2.76 billion ringgit ($696.3 million). Now, the firm is making two bets: Premium residential real estate in Kuala Lumpur’s urban core, and industrial land for data center development. Mah Sing has recently acquired land fewer than 500 meters from Kuala Lumpur’s city center, and hopes to roll out a “premium offering” later this year, Lionel Leong, Mah Sing’s deputy CEO, told Fortune. Malaysia, too, had a good year, with the economy growing by 5.2%, ahead of government forecasts.