Latest news with #SkyWorldDevelopmentBhd
New Straits Times
08-08-2025
- 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 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.
