SkyWorld plans projects worth RM2.2bil


  • Property
  • Monday, 20 Nov 2017

Its chief executive officer Lee Chee Seng said these projects comprise residential high-rise, integrated and commercial projects in the Klang Valley.

PETALING JAYA: SkyWorld Development Sdn Bhd is planning up to four projects worth RM2.2bil in gross development value (GDV) over the next two years.

Its chief operating officer Lee Chee Seng said these projects comprise residential high-rise, integrated and commercial projects in the Klang Valley.

Lee said in a recent interview that the company has a sales target of about RM1.3bil for the financial year ending March 31.

He said while the company will focus on the Klang Valley projects, it will seek opportunities elsewhere too.

“We are focusing on property development in Kuala Lumpur for the foreseeable future.

“However, after 2020, should there be excellent investment opportunities outside Kuala Lumpur and overseas markets such as in Asia Pacific, it may be carried out via conventional methods of joint venture developments.”

Lee added that the company will be busy with several projects in the pipeline given the 130 acres of land it owns with a total estimated GDV of RM13bil.

The projects include Ascenda Residences with phase one utilising 3.35 acres, the 2.69-acre Bennington Residences, the 4.43-acre Curvo Residences and a six-acre commercial project.

SkyWorld’s other launches include The Hub@SkySanctuary, Setapak, with a GDV of RM164mil, SkyMeridien@Bandar Baru Sentul with a GDV of RM491mil and The Valleys@SkySierra, Setiawangsa with a GDV of RM771mil, all are expected to hit the market between the fourth quarter of this year and the first quarter of 2018.

The developer is also planning to launch a much anticipated residential development dubbed SkyVogue@Taman Desa, with a GDV of RM266mil in the first quarter of 2018.

Lee said SkyMeridien@Bandar Baru Sentul has been well received by potential homebuyers. “One of our launches in Sentul has been well received as we have around 4,000 registrations so far and we have only 780 units available,” he said.

When asked about the possibility of the company planning an initial public offering (IPO), Lee said SkyWorld will look for an opportune time to do so.

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