We investigate magnetism and band structure engineering in Moir'e superlattice of blue phosphorus (-P) and grey arsenene (-As) bilayers, using calculations. The electronic states near the valence and conduction band edges have significant character in both the bilayers. Thus, twisting the layers significantly reduce the interlayer orbital overlap, leading to a decrease in the binding energy (up to ) and an increase in interlayer distance (up to ), compared to the most stable AA-stacking. This interlayer decoupling also results in a notable increase (up to 25-50%) of the bandgap of twisted bilayers, with the valance band edge becoming relatively flat with van-Hove singularities in the density of states. Thus, hole doping induces a Stoner instability, leading to ferromagnetic ground state, which is more robust in Moir'e superlattices, than that of AA-stacked -P and -As.

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