Top 10 Property Developers in Malaysia: A Complete Guide

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Foreign investors primarily look for big and reputable developers when buying overseas property.

The Chinese, for example, are known for doing much research about developers before even visiting a country.

Truth be told, failing to do enough research can result in late completions, quality issues, or that the developer runs into financial problems. Not to forget, developers have their own unique style and brand names.

Fortunately, you can find plenty of internationally recognized developers in Malaysia.

Many have dozens of projects completed and are in the process to complete modern infrastructure projects, big innovative projects, and mega housing complexes.

In this article, I’ve listed some of the biggest and most popular property developers in Malaysia.

1. Eco World Development Group

EcoWorld Development Group was not known to many Malaysians a decade back. That said, it’s seen tremendous growth over the past years and is now a big award winning developer in Malaysia.

To be more precise, the company’s revenues have increased more than a dozen times since 2014, up to RM 2.2 billion in 2018.

As the name speaks, EcoWorld focuses much on building sustainable and green communities.

The Chateau is just one example, where you’ll find colonial style eco-themed villas, surrounded by minimal noise and a high security.

EcoWorld has expanded overseas

Recently, the company has taken on big residential projects, not only domestically, but also in the UK and Australia. Here, the UK leads the pack with a dozen projects, worth billions of dollars.

You’ve probably not gone unnoticed that we see more cross-border transactions of property in Asia. EcoWorld has joined this trend as well and currently has a new Chinese website, in addition to its English website.

EcoWorld awards

To bring some more credit to the brand name, EcoWorld has won a number of awards over the years, including:

• Top 10 Developer – Edge Property (2018)
• Best Residential Developer – Euromoney (2018)
• Best Managed Property Award – Edge Property (2018)

EcoWorld projects

Until today, you can find almost 30 high-end projects built by EcoWorld.

Most of these are green business parks, high-rise apartment buildings, integrated commercial developments, and townships. Some of its most well-known projects are:

• Eco Business Park
• Bukit Bintang City Centre
• Eco Sanctuary
• Karisma Apartment
• Eco Sanctuary
• Eco Tropics

Examples of upcoming projects built by EcoWorld include:

• Eco Forest in Setia Alam (2020)
• Bukit Bintang City Centre (2021)
• Eco Ardence (2019 – 2021)
• Eco Horizon (2020)

Most of their projects consist of bungalows, semi-detached houses, garden homes, and a limited amount of apartment projects.

EcoWorld prices

EcoWorld has a wide range of property types in its portfolio, including high-end condos and villas, commercial property, and budget-friendly condo units.

Below you’ll find some examples of various projects and the price for a unit:

• The selling price for condo units in Eco Sky (Jalan Kuching in Kuala Lumpur) starts from RM 550,000 – RM 950,000. The project was completed in 2018

• Units in Lucentia Residences (Bukit Bintang City Centre) start from around RM 750,000. The project is set to be completed in 2020

The company is best known for its eco-friendly projects, having amenities like swimming pools, tennis courts, play areas, and parks.

Key information:

• Presence: Malaysia, UK and Australia
• Revenue: RM 2.14 billion (Financial Times)
• Property types: Condos, townships, bungalows and commercial
• Projects completed/under construction: 30
• Headquarter: Darul Ehsan, Selangor, Malaysia

2. Sime Darby Property

Sime Darby Property was founded in 2007, through a merger of several property subsidiaries. Interestingly, it was publicly listed as late as 2017.

Prior to that, the company has mainly been involved in helping the Malaysian communities to build commercial and infrastructure projects.

The company is a subdivision of the big conglomerate, Sime Darby, which has been in Malaysia for over a hundred years. Some of the group’s core areas are in the industrial, healthcare, motors and logistics industry.

With 45 years of experience, Sime Darby Property can proudly say that it is the biggest developer in terms of land bank management.

It’s also one of the biggest developers in terms of gross development value (GDV), looking at current projects and yearly revenue.

In addition to Malaysia, they build projects in Vietnam, UK and in Singapore.

Being one of the biggest property developers in Malaysia, they’re now headquartered in Petaling Jaya, an area where we’ll see much growth in the coming years.

Sime Darby awards

The same as it goes with other top developers, Sime Darby Property has won many awards over the years.

At previous events, they’ve managed to win the following awards:

• The PwC Building Trust Awards 2019 (2nd silver)
• The Edge Billion Ringgit Club 2018
• PwC Building Trust Awards 2017 (Winner)

Sime Darby projects

So far, Sime Darby has completed 18 residential and commercial projects throughout Malaysia, while many projects are still under construction.

Some notable projects include:

• Townships in Klang Valley known as Subang Jaya
• Putra Heights
• Ara Damansara
• Planter’s Haven
• The Avani
• Cantara Residences
• The Suave
• USJ

Not to forget, they also work on various projects overseas, including Battersea Power Station, which is a highly interesting mixed-use project in London (UK).

Sime Darby is one of the most well-known developers in Malaysia with property in high demand.

Sime Darby property prices

Below I’ve listed a couple of projects and the prices for different units:

• The launch price for a basic unit in The Avani (Bandar Bukit Raja) was around RM 450,000. However, prices have increased to around RM 700,000

• Units in the Alcove (Putra Heights, Selangor) start from around Rm 980,000

• The price of a 295 square meter townhouse in one of their newest projects, The Mews, is around RM 1,425,000

You can visit their website to buy directly from them. Their projects are popular among foreigners as they offer dedicated services to foreign buyers.

Key information:

• Presence: Malaysia, Vietnam, Singapore and UK
• Revenue: RM2.51 billion (Financial Times)
• Property types: Both commercial and residential
• Projects completed/under construction: Around 30
• Headquarter: Petaling Jaya, Selangor, Malaysia

3. SP Setia Group

SP Setia is a major Malaysia based property developer, founded in 1974. The currently well-known property tycoon Liew Kee Sin was the man behind the company.

Interestingly, Liew co-founded EcoWorld Development, after he was forced to resign from SP Setia. The reason? Malaysia’s government bought most of the shares in the company.

What sets SP Setia apart from other companies is that it’s one of the oldest and biggest property developers, with a reputation of building high-quality property.

They’re most famous for handling the construction and sales of integrated townships, luxury service residencies, apartments, and bungalows.

Yet, they also focus much on infrastructure projects in the commercial sector. It also offers after-sale services, like home improvements, which is sought after among foreign buyers.

SP Setia awards

When it comes to awards and recognitions, SP Setia truly stands out.

Just listen to this:

• 11 times winner at FIABCI
• 9 times winner at A-ON Best Employers award
• 4 times best property developer by Euromoney

I could continue for long, but I believe that list speaks for itself.

SP Setia projects

SP Setia has multiple residential projects in the Klang Valley, Johor Bahru, Penang, and Kota Kinabalu.

In addition, they have completed projects in Vietnam, United Kingdom, Australia, and Singapore.

One of their most well-known projects is KL Eco City, located right in the heart of Kuala Lumpur. Other interesting projects include:

• Setia Alam
• Setia Eco Park
• Bukit Indah
• Setia Tropika
• Aeropod

SP Setia property prices

Below I’ve listed a couple of projects and the prices for different units:

• When KL Eco City was launched in 2013, the asking price was almost RM 11,000 per square meter for a condo. The current average price is around RM 17,500 per square meter

• Units in Setia Seraya Residences (Putrajaya, Kuala Lumpur) start from around RM 700,000

Key information:

• Presence: Malaysia, Vietnam, UK, Australia and Singapore
• Revenue: RM4.21 billion (Financial Times)
• Property types: Both commercial and residential property
• Projects completed/under construction: Unknown
• Headquarter: Setia Alam, Shah Alam, Selangor, Malaysia

4. LBS Bina Group

LBS Bina Group established in 2000 and is currently one of the biggest property developers in Malaysia.

In the past years, the company has grown with an impressive rate, stretching well above double digits year on year.

Not only do they build plenty of residential and commercial projects, but put a heavy focus on building property in the hospitality and tourism industry.

LBS Bina awards

To be listed as a top property developer doesn’t go without saying that the company has won a number of awards.

Some examples are:

• Top ranked developer of the year – Star Property Award
• The best touch & feel: Excellence – Star Property Award
• Best developer – PropertyGuru

LBS Bina projects

LBS Sina has an impressive portfolio, including everything from massive commercial projects to townships. Some of their most notable projects include:

• D’ Island Residence in Puchong, Selangor
• Bandar Putera Indah in Batu Pahat, Johor
• LBS Alam Perdana in Klang Valley
• Cameron Golden Hills
• Genting Highlands

You can find landed property, as well as high rise apartment buildings in their portfolio.

LBS Bina property prices

Below I’ve listed a couple of projects and the prices for different units:

• Units in Nautilus 2 start from around RM 1.2 million
• Condo units in Skyvilla start from around RM 700,000

For more information, you can visit their website and contact them directly. They have a dedicated team that service foreign buyers. You can also explore the investor relations section on their website to learn more.

Key information:

• Presence: Malaysia and China
• Revenue: RM1.21 billion (Financial Times)
• Property types: Commercial and residential property
• Projects completed/under construction: Around 20
• Headquarter: Petaling Jaya, Selangor, Malaysia

5. IOI Properties Group

IOI Properties Group is another top developer in Malaysia that deserves a spot in this article. Founded in 1984, it was listed on the Malaysian stock exchange in 2014.

It’s a large property developer in Malaysia that’s well-known for building everything from high-end condos to affordable apartments.

The company focuses on large-scale sustainable townships around Klang Valley and Johor in Malaysia.

It’s also involved in hospitality, tourism and has expanded overseas, to countries like China and Singapore.

IOI Properties awards

The company has won numerous property awards over the years. Most of the awards recently were won recently:

• Top 10 Developer – Property Insight
• Best Mass Market Condo/Apartment Development – PropertyGuru
• Best Developer – ASEAN Property Awards

IOI Properties projects

As mentioned, IOI Properties mainly focuses on building big townships in the city suburbs. Its key focus is around Klang Valley and in Johor. Some popular projects include:

• The Clio Residence
• IOI Resort City in Putrajaya
• La Thea Residences
• Skyz Residence
• Sierra 6
• Le Pavillion
• Evira
• Conezion
• Rio City
• Par 3

IOI Properties prices

• The price of a medium sized apartment in one of their latest projects, The Clio Residence, is around RM 900,000

• The price for a 2-Bedroom unit in Sky Pod is around RM 600,000

As mentioned, IOI Properties Group also builds new projects in Singapore and China.

It has around 10,000 acres of land in Malaysia and in other countries.

I recommend you to visit their website to explore different options under the investor relations tab.

In addition to the above, they can help you to invest in shopping malls, hotels, and commercial buildings.

Key information:

• Presence: Malaysia, Singapore and China
• Revenue: RM2.39 billion (Financial Times)
• Property types: Townships, condos and commercial property
• Projects completed/under construction: More than 20 projects
• Headquarter: Putrajaya, Malaysia

6. Sunway Property

Sunway Property is a real estate division of the Sunway Group, founded in 1974.

It’s one of the biggest real estate developers in Malaysia. The head office is located in Bandar Sunway, Selangor, Malaysia.

The company builds mostly hotels and shopping malls, like the Sunway Pyramid shopping mall, Sunway Resort hotel & Spa, and the Pyramid Tower Hotel.

In addition, they have completed many residential and other commercial projects in the past years.

You can find their projects all over Malaysia, especially in the Klang Valley, Ipoh, Penang, and Johor. They also have completed projects in other countries, like Singapore and China.

Sunway Property awards

• Top ranked developer – The Star Property
• Malaysia’s best managed property – PropertyGuru
• Top ten developers – BCI Asia
• Sunway Property projects

Even if Sunway builds plenty of commercial property, you’ll also find a number of residential projects built by the company Some examples are:

• Sunway Gandaria Residences
• Serene Villas in Ipoh
• Sunway Serene in Klang Valley
• Lakeside Mansions in Ipoh
• Sunway Eastwood in Klang Valley
• Montbleu Residences in Ipoh

New projects include Lost World Suites in Ipoh, Sunway Geo Residences 3 in Klang Valley, and Grid Residence in Johor.

Sunway Property prices

Let’s have a look at the prices for units in a handful of Sunway’s portfolio:

• Units in Sunway Gandaria Residences are available from RM 600,000

• Units in Serene Villas in Ipoh are available from RM 860,000

• Units in Sunway Serene in Klang Valley are available from RM 740,000

You can connect with Sunway Property and find plenty of more information on their website.

Key information:

• Presence: Malaysia, Singapore and China
• Revenue: RM5.23 billion (Financial Times)
• Property types: Commercial and residential property
• Projects completed/under construction: More than 50
• Headquarter: Putrajaya, Malaysia

With more than 50 projects, Sunway property has the highest number of projects to their name on our list.

7. UEM Sunrise

UEM Sunrise is a leading property developer that operates domestically and internationally. The company has expanded much over the years and you’ll find their projects in South Africa, Australia and in Singapore.

UEM mainly focuses on building large townships, high-rise residential buildings, commercial property, retail and integrated property.

On top of that, they offer a number of other services, such as project management, construction services, and property management.

They’ve managed a number of successful projects in Malaysia, for example in Mont’ Kiara, Kuala Lumpur.

UEM Sunrise awards

Below are just a few examples of the awards that UEM Sunrise has won over the years:

• Malaysia’s Best Managed Property Award – The Edge Prop
• Top ranked developer – Star Property
• The family friendly award – Star Property
• Highly commended – PropertyGuru

UEM Sunrise projects

Some of UEM Sunrise’s most renowned projects include:

• Residensi Sefina Mont’Kiara
• Arcoris
• Radia
• Residensi 22

UEM Sunrise prices

• The price of a unit in Arcoris (Kuala Lumpur) is RM 620,000 – RM 3,500,000

• The price of a unit in Residensi 22 (Kuala Lumpur) is RM 1,100,000 – RM 3,150,000

Key information:

• Presence: Malaysia, South Africa, Singapore, Australia
• Revenue: RM2.18 (Financial Times)
• Property types: Commercial and residential property
• Projects completed/under construction: More than 50
• Headquarter: Putrajaya, Malaysia

8. Gamuda Land

Established in 1995 and having more than 20 completed projects in Malaysia alone, Gamuda land is a big developer that can’t be left out of this list.

They currently have 3 projects under construction. The company doesn’t only build residential property, but resorts and golf & country clubs.

Gamuda Land awards

Gamuda Land has won, well… almost too many awards. I decided to go for awards won in 2019, here’s what we got:

• Best Managed Property Awards (multiple) – EdgeProp
• Best Landed Development – PropertyGuru
• Best Landed Development – Star Property
• Best Comprehensive Township – Star Property

Gamuda Land projects

Some of Gamuda Land’s projects (completed and under construction) include:

• Gamuda Gardens
• Gamuda Cove
• The Robertson
• Jade Hills
• Horizon Hills (Multiple award winner)

Gamuda Land property prices

• Units in Gamuda Gardens start from RM 800,000 – RM 1 million
• 2 storey link-houses in Gamuda Cove start from RM 680,000

Key information:

Presence: Malaysia, Vietnam, Australia
Revenue: RM4.28 billion (Financial Times)
Property types: Residential property, resorts, golf & country clubs
Projects completed/under construction: More than 20
Headquarter: Petaling Jaya, Selangor, Malaysia

9. Mah Sing Group

Mah Sing Group established in 1991 and has expanded rapidly in the past years.

The last time I was in Kuala Lumpur, I got approached by salespersons from Mah Sing Group a number of times.

The company has become one of the major players and is famous in Malaysia. It offers everything from cheaper property to luxury property.

Interestingly, they’ve also started to promote their projects on Lazada.

Mah Sing Group awards

The same as it goes with the other listed developers, Mah Sing Group has won multiple awards over the years. Below are just some examples:

• Top ranked developer – Star Property
• The small is BIG awards – Star Property
• Top 10 developers – The Edge
• Top property developer (2005 – 2017) – The Edge

Mah Sing Group projects

Below you can see examples of condo projects built by Mah Sing Group.

• Icon Residence (Kuala Lumpur)
• M Vertica (Kuala Lumpur)
• M Vista (Penang)
• M City (Jalan Ampang)

Mah Sing Group property prices

Mah Sing Group builds affordable residential units, that start from as little as RM 350,000 in places like Kuala Lumpur.

You’ll also find serviced apartments for less than RM 300,000 in Iskandar Puteri.

Below I’ve listed some examples:

• Units in Icon Residence (Mont Kiara, Kuala Lumpur) start from RM 1.5 million

• Units in The Loft (Penang) start from around RM 1.65 million

• Units in M Vertica (Kuala Lumpur) start from around RM 450,000

Key information

• Presence: Malaysia
• Revenue: RM2.06 billion (Financial Times)
• Property types: Mainly residential property
• Projects completed/under construction: More than 30
• Headquarter: Kuala Lumpur, Malaysia

10. IJM Land

Founded in 1983 and with more than 32 completed projects, IJM Land Bhd is an internationally recognized developer and one of the biggest in Malaysia. It continues to claim market shares and has even expanded overseas, to the UK and China.

In addition to working with real estate, IJM Land operates in industries such as manufacturing, quarrying, infrastructure concessions and plantations.

IJM Land awards

The company has won numerous awards of the year, some top picks are:

• Top property developer (5 times) – BCI Asia Awards
• Property excellence awards – The Edge
• Top ranked developer – Star Property
• Master plan category winner – FIABCI

IJM Land projects

Being based in Malaysia, most of IJM Land’s projects are in Penang.

Examples of projects are:

• Pantai Sentral Park (Kuala Lumpur)
• Riana Dutamas (Kuala Lumpur)
• Tréhaus (Penang)

IJM Land prices

IJM Land provides condo units from the low to high price segment:

• Units in Pantai Sentral Park cost between RM 850,000 – RM 1,500,000

• Units are typically cheaper in Riana Dutamas and cost between RM 378,000 – RM 689,000

Key information:

• Presence: Malaysia, the UK
• Revenue: Unknown
• Property types: Mainly residential property
• Projects completed/under construction: More than 20
• Headquarter: Penang, Malaysia

Other big developers in Malaysia include:

• IGB Corporation Bhd (44 projects)
• Tropicana Corporation Bhd (12 projects)
• BRDB Developments (13 projects)
• Selangor Dredging Bhd (14 projects)

Conclusion

Many foreigners, especially Asians, prefer to buy off-plan in Southeast Asia.

Nowadays, you’ll find developers showcasing new projects in malls, at MRT stations, and many other places in the major cities. I’ve come across many of them myself while being there.

Obviously, developers market their products more aggressively and hire more and more in-house salespersons. Thus, you don’t necessarily need to work with agents anymore.

They often have good connections with property lawyers and banks, which can help you with legal issues and financing.

As we’ve seen in this article, there are plenty of reputable developers in Malaysia. Many of them have decades of experience and revenues in the billions.

Therefore, you shouldn’t have any issues to buy property successfully, just be sure to do enough due diligence.

To summarize, some of the biggest and most popular in Malaysia are:

• Eco World Development Group
• Sime Darby Property
• SP Setia Berhad Group
• LBS Bina Group
• IOI Properties Group
• Sunway Property
• UEM Sunrise
• Gamuda Land
• Mah Sing Group
• IJM Land
• IGB Corporation
• Tropicana Corporation
• BRDB Developments
• Selangor Dredging