Developer has no plans to expand outside of KL as it has ample of undeveloped land in KL while its total unbilled sales currently stands at RM1m
By IZZAT RATNA / Pic By TMR File
SKYWORLD Development Sdn Bhd plans to develop projects worth RM2 billion in gross development value (GDV) by the second half of 2018 (2H18).
Founder and group MD Datuk Ng Thien Phing said the upcoming projects would comprise high-rise residential developments, a commercial hub, as well as the remaining phases of SkyAwani Series 3, which was unveiled at the end of 2017.
He said the upcoming projects would remain in the heart of Kuala Lumpur (KL), particularly the Gombak area, as it is the anchor location for the KL-based property developer.
“Despite the current soft sentiment in the property market — particularly the high-rise segment due to rising excess stocks, I am confident that our upcoming projects would continue to garner high response from our targeted buyers,” he told reporters at the unveiling ceremony of SkyWorld’s Quality Centre in KL yesterday.
“All of our residential components are priced affordably, between RM300,000 for our social housing projects (SkyAwani Series), and RM500,000 for other types of highrise projects aimed at the middle- and urban-affluent demographic,” he said.
“Therefore, our products are suited to fulfil the needs of urban dwellers, driven by its location and attractive pricing points.”
Among the projects that are in the pipeline are the Sky Meridien in Sentul KL — encompassing 780 units with about RM498 million GDV — and The Valleys at SkySierra with a total GDV of RM750 million.
A 4.5 acres (1.82ha) commercial hub in Setapak is also in the pipeline, which would house 46 units of threeand four-storey business suites.
Additionally, the remaining two towers of the SkyAwani Series 3 would be introduced within the stipulated time frame with a RM600 million GDV featuring 1,905 units. The first tower was launched in November last year.
The company is expected to strengthen its position in the central Klang Valley, utilising its remaining 130 acres of landbank, which has a potential total GDV of RM13 billion.
“We have no plans to expand outside of KL as, at the moment, we have ample of undeveloped land in KL at our disposal for future developments,” Ng said, adding that the company’s total unbilled sales currently stands at RM1 million.
SkyWorld unveiled a RM3.8 million new “Quality Centre” yesterday, aimed at championing QLASSIC/ CONQUAS quality commitments at all its developments in the city.
Ng said as a responsible developer, it is important to provide more valueadded features amid purchasers’ current selective buying sentiment.
“Besides offering innovative, location- centric and various facilities and amenities, one important aspect is quality assurance.”
According to the Construction Industry Development Board, there are about 7,600 projects and developments completed each year and only 4.1% is quality certified.
Yesterday’s unveiling ceremony was officiated by Minister of Federal Territories Datuk Seri Tengku Adnan Tengku Mansor. In his keynote address, Tengku Adnan urged more developers to follow SkyWorld’s initiatives by offering quality homes and working hand in hand with the federal government to build more affordable housing for the people.
“We want to continue to help reduce the burden that the public is facing on rising cost of living, particularly in the federal territories,” he said.
The new centre is a 13,000 sq ft facility which hosts 10 functional areas such as the SkyWorld Lounge, a mini auditorium and other lifestyle amenities.
It will be used as a training hub for SkyWorld’s employees, as well as the public who wishes to learn about the quality of certified workmanship in Malaysia.