Holding the signed documents are Ismail (left), Aziz (second from left), Lee (right) and Ng (second from right), while Anwar, (centre), Nga (third from left) and Yeow (third from right) look on - Azhar Mahrof/The Star
By Yip Wai Fong
KUALA LUMPUR: Property developer SkyWorld Development Bhd (SkyWorld) and Penang Development Corporation (PDC) have signed a joint development agreement (PDA) to develop over 35,000 Rumah Bakat Baru Madani, heralded as the nation's largest affordable housing project.
To be developed in a period of 10 years at two locations, in Seberang Jaya on a 34-acre plot, and in Batu Kawan on a 161.5 acre, the units will be priced between RM225,000 and RM420, 000.
"SkyWorld has the reputation and I believe it can deliver the project, and I hope all relevant authorities give their best to expedite this pivotal development, " said Prime Minister Datuk Seri Anwar Ibrahim, who witnessed the signing ceremony.
The agreement was penned by SkyWorld founder and executive chairman Datuk Ng Thien Ping and chief executive officer Lee Chee Seng while PDC was represented by its chief executive officer Datuk Aziz Bakar and PDC Properties chief executive officer Ismail Ishak. PDC Properties is a subsidiary of PDC.
Also present was Penang Chief Minister Chow Kon Yeow, who said the Rumah Bakat Baru Madani is aimed at bolstering the affordable housing supply to meet the housing needs of all Penang residents in the M40 group including those who work in Penang but are not born in the state.
"After going through the request for proposal and bidder vetting processes, SkyWorld has won the tender to develop the project; congratulations to SkyWorld," Yeow said.
According to Yeow, the units will measure 900 sq ft, with three bedrooms and two bathrooms and come with facilities such as a swimming pool, gym, multipurpose hall and surau.
The homes will be constructed using cutting-edge IBS technology, ensuring high-quality workmanship, reduced construction timelines and in accordance with ESG principles.
"With (the project having) an estimated gross development value (GDV) of RM13 billion, we are a step closer to the 12th Malaysia Plan's target of 500,000 units of affordable housing by year 2025," said Housing and Local Government Minister Nga Kor Ming who also witnessed the signing ceremony with Anwar and Yeow.
Lee said that the Rumah Bakat Baru Madani will have all the SkyWorld's product signatures, incorporating analysis of thermal comfort, cross ventilation and natural daylight.
"At SkyWorld, we are always attuned to resolving home buyers' pain points. Using passive designs, our homes have reduced maintenance charges, are comfortable and environmentally friendlier," Lee said.
Stay ahead of the crowd and enjoy fresh insights on real estate, property development and lifestyle trends when you subscribe to our newsletter and follow us on social media.
