Latest news with #LeeCheeSeng
New Straits Times
6 days ago
- Business
- New Straits Times
SkyWorld buys Penang land for RM82.7mil
KUALA LUMPUR: SkyWorld Development Bhd has bought four adjoining parcels of freehold lands in Seberang Perai Tengah, Penang for RM82.7 million. SkyWorld said it had entered into a sale and purchase agreement through its 70 per cent indirect subsidiary Prefab Master (Penang) Sdn Bhd for the acquisition. Spanning a combined area of 10.64 hectares, the company said the land will be used to develop a factory to manufacture prefabricated and prefinished modular systems. "This will support the joint development projects in Penang undertaken by SkyWorld Development in partnership with The Penang Development Corp and PDC Properties Sdn Bhd," it said. The factory is located about 12km and 15km from the development sites in Batu Kawan and Seberang Jaya respectively. According to SkyWorld, the acquisition will be funded via a combination of internally generated funds and bank borrowings. Barring any unforeseen circumstances, it said the acquisition is expected to be completed within three months from the date of the sale and purchase agreement. SkyWorld chief executive officer Lee Chee Seng said the acquisition of the land to build a new PPVC modular systems manufacturing factory marks a significant milestone for the company. Lee said this will not only establish its foothold in modular systems manufacturing but also supports the growing pipeline of the company's affordable housing across the northern region. "Inspired by our partner Teambuild's success in delivering large-scale HDB's (Housing & Development Board) projects in Singapore, we aim to replicate that proven success here in our homeland," he added.
The Star
20-07-2025
- Business
- The Star
SkyWorld unveils Penang's vertical living era
BUTTERWORTH: Breaking ground on the nation's largest affordable housing project under the Rumah Bakat Madani initiative, SkyWorld Pearlmont promises accessible, high-quality high-rise living, along with the nation's first vertical school. SkyWorld Development Berhad chief executive officer Lee Chee Seng said the landmark development boasts 1,846 units. 'This is SkyWorld's first venture in Penang, set on 12.54ha (31 acres) of freehold land in the heart of Seberang Jaya. 'Phase 1A of SkyWorld Pearlmont offers 1,846 units in three towers, with each unit being 900 sq ft, with three bedrooms and two bathrooms. 'Prices range from RM323,000 to RM390,000, including options for one or two carparks,' he said at the groundbreaking ceremony held at Seberang Perai on July 19. Lee said the development features a 4ha elevated park, considered the largest of its kind in Penang. 'SkyWorld Pearlmont is the first project in Penang to fully adopt prefabricated prefinished volumetric construction (PPVC), a modular 'Lego-style' system that enhances build quality, safety and efficiency.' Buyers will benefit from premium-quality affordable homes with a 10-year warranty on water leaks and the piping system, low maintenance costs of RM0.18 per sq ft and a benchmark of the Quality Assessment System in Construction score of 85% in construction innovation, he said. Lee said the gross development value of the project is at RM2bil and it is expected to be completed in 2029. The project will pioneer the integration of a vertical school into a high-rise affordable housing community, enhancing accessibility and safety for children in working families. 'Vertical schools represent an architectural evolution in educational design, where learning environments are structured within multi-level, purpose-built towers rather than sprawling, land-intensive campuses. 'This vertical format is especially suited for urban and high- density settings, allowing architects to maximise limited land while maintaining functional, child-centric spaces. 'Each floor is typically designed to serve a specific age group or learning theme, with clear spatial zoning that supports developmental needs and intuitive wayfinding,' he said. 'Other features include SkyWorld Healthy Home characteristics like a passive design, natural light and ventilation. 'The project also includes a pay-per-use clubhouse that features an infinity pool, pickleball and badminton courts, a kids' playland and gyms,' he said. Lee said with freehold units, an elevated park, smart home features and wellness-focused design, SkyWorld Pearlmont is a future-ready township designed for generational living and community growth. Lee said the groundbreaking ceremony comes just eight months after the signing of the Joint Development Agreement (JDA) with Penang Development Corporation (PDC) and PDC Properties. 'This development will serve as a public-private initiative aimed at delivering more than 35,000 units under the Rumah Bakat Madani scheme. 'Unlike traditional public housing, Rumah Bakat Madani units are freehold and open to all Malaysians, including non-Penangites working in the state, particularly in the electric and electronic and industrial sectors that drive Penang's economy. 'This project aims to not only invite young talent from across Malaysia to call Penang home but also to build a stronger economy and community,' he said. The groundbreaking ceremony was graced by Prime Minister Datuk Seri Anwar Ibrahim, Housing and Local Government Minister Nga Kor Ming, Penang Chief Minister Chow Kon Yeow and SkyWorld founder and executive chairman Datuk Seri Ng Thien Phing, among others. In his speech, Nga said SkyWorld, an international award-winning developer, has been tasked with building a total of 37,368 residential units, comprising 6,368 units in Seberang Jaya and 31,000 units in Batu Kawan, Penang. 'Each unit will be sold between RM225,000 and RM420,000, and will be freehold. 'The sale of this project is open to Malaysians, regardless of whether you are a native of Penang or from another state,' he said.
The Sun
04-07-2025
- Business
- The Sun
SkyWorld scores third win at Fiabci global awards
KUALA LUMPUR: For the third year in a row, SkyWorld Development Bhd has received global recognition at the Fiabci World Prix d'Excellence Awards 2025, this time earning the World Silver Award in the Residential High Rise category for its parkfront development SkyLuxe On The Park Residences in Bukit Jalil. The company previously secured Gold Awards for SkyAwani 2 and SkyAwani 3 Residences in the Affordable Housing category at the 2023 and 2024 editions of the same awards, highlighting its consistent performance on the international stage. 'We are proud to be recognized in a new category, extending our success in affordable housing to include excellence in high-rise residential developments. Winning the Fiabci World Prix d'Excellence Award for the third consecutive year is a meaningful milestone for all of us at SkyWorld. It shows that our focus on building future-ready, quality homes continues to make a positive difference in people's lives. SkyLuxe On The Park Residences was designed with this in mind, from thoughtful layouts to seamless access to green spaces. We are happy to see it become a place that homeowners are proud to call home,' said CEO Lee Chee Seng. Completed in February 2020, SkyLuxe On The Park Residences consists of 477 units across two 44-storey towers on a freehold parcel next to Bukit Jalil Recreational Park. The project achieved 100% take-up and recorded 87% occupancy as of 2023. Its distinctive 'dancing towers' design, sky terraces, and varied balcony layouts introduce architectural variety while complementing the surrounding landscape. SkyLuxe On The Park Residences has also received broad industry recognition for its design and construction quality. With an impressive 85% QLASSIC High Score in 2020 under the High-Rise Residential Category, it achieved the highest score in Malaysia that year. QLASSIC (Quality Assessment System in Construction) is Malaysia's national standard for measuring workmanship quality based on the Construction Industry Standard (CIS 7), administered by the Construction Industry Development Board. This latest recognition adds to a growing portfolio of sustainable, design-led developments that promote liveability, resilience, and long-term value in urban communities.
