KUALA LUMPUR: Skyworld Development Bhd
's wholly-owned subsidiary Aspirasi Cekap Sdn Bhd has entered into a joint development agreement with PR1MA Corp Malaysia to build PR1MA homes on a 1.97-acre leasehold land in Brickfields, Kuala Lumpur.
In a statement, the property developer said the project, known as SkyAwani Prima, will feature 491 units of affordable apartments, with built-up areas of 900 sq ft each.
Under the terms of the agreement, Aspirasi Cekap will be responsible for the development and construction of the project, which has a gross development value of RM191.49mil.
In return, PR1MA is entitled to receive RM32.17mil as land cost.
The project is expected to be completed within four years from the commencement date.
"With this prime positioning, we are optimistic about the potential for strong demand, and we are committed to make a meaningful impact in the affordable housing sector.
"Together with PR1MA, we aim to create living spaces that not only provide shelter but also foster a sense of community and improve the overall quality of life for residents,” said CEO Lee Chee Seng.
