PKNS aims to be more commercially driven, grow revenue by 2030

Mahmud: We have plans to list some of our commercial buildings under a REIT on Bursa Malaysia by early next year to raise fresh capital for the development of the CBD and other projects.

SHAH ALAM: Perbadanan Kemajuan Negeri Selangor (PKNS) or the Selangor State Development Corp, plans to develop property projects with a gross development value (GDV) of RM800mil to RM1bil in 2024.

Group chief executive officer Datuk Mahmud Abbas said the state-owned development arm aims to become more commercially driven going forward, as state funding has been cut while its financial obligations require it to grow and move away from its past perception of being a builder of low-cost housing in the state.