Nestled in a lush tropical setting, the two dancing towers of SkyLuxe On The Park stretch upwards against the horizon of Bukit Jalil. Along with SkyWorld Development Bhd’s 12 other projects, the luxurious award-winning masterpiece is testament to the urban developer’s commitment to quality and excellence, and a reflection of its ambitions to transform the city skyline.

SkyWorld founder and executive chairman Datuk Seri Ng Thien Phing recalls growing up in less privileged circumstances and how they shaped his dream of creating well-built homes. “My father was a lorry driver and my mother was a modest housewife. I will always remember how hard my parents struggled to get a low-cost single-storey detached house from the government 40 years ago. The house cost RM25,000 and my parents had to strive hard to save money to purchase it.”

But the home that they so looked forward to was nothing like what they dreamt it would be. “The workmanship of our house was terrible,” he laments. “The roof was low, making the house extremely hot. We could see every single brick on the wall as there was no plastering. My mother complained that the developer was irresponsible and just tried to make a profit without bothering about the workmanship and quality of the houses built.”

This inspired Ng to establish a property development company that would emphasise product quality and workmanship. Initially known as NTP World Development, the company underwent a rebranding exercise in 2014, and is now being helmed by SkyWorld CEO Lee Chee Seng. Known for his meticulous and hands-on management approach, Lee has 20 years’ experience in the construction industry, instilling in him an understanding of the needs of homebuyers and the importance of attention to detail.

He recalls starting his career in the construction industry in 1996. “It was a tough time, as the market was approaching the Asian financial crisis of 1997. During that period, the market was going from bad to worse as many retrenchments were taking place in the property and construction industries,” he says.

To secure his employment, Lee, who was then a contractor supervisor, offered to coordinate the design, technical and construction discrepancies between clients, consultants and nominated sub-contractors to help his clients to keep their development costs low. “During the defects liability period, I took the initiative to face the customers and tried to understand the facts of complaints. I learnt that all customers are looking at values that the developers offer, inclusive of quality,” he says.

Apart from gaining a better understanding of customers’ pain points and a good grip on how to better manage projects, resources and risks, Lee also learnt the value of innovation and continuous improvement, as well as the importance of adaptability and resilience in the face of unforeseen circumstances. “Therefore, I encourage my team to be adaptable and open-minded to new ideas and perspectives, and to be ready to pivot quickly if circumstances were to change. Furthermore, it has instilled in me a strong work ethic and attention to detail, which I bring to SkyWorld to ensure that we consistently deliver high-quality projects that meet our customers’ needs,” he says.

Together, Lee and Ng aim to steer the company to realise its vision of “Always Best City Developer”. Three key elements form SkyWorld’s DNA, the first of which is its focus as an urban developer for first-time homebuyers and upgraders. All its projects are located in Kuala Lumpur and cater for buyers in the M40 and T20 segments who are aged 25 to 45.

Another key principle is its dedication to quality. The developer built the SkyWorld Quality Centre — the country’s first — to educate the general public, homebuyers, consultants and contractors on how to assess home defects. SkyWorld has also committed to submitting all its projects to the Construction Industry Development Board (CIDB) to undergo its Quality Assessment System in Construction (QLASSIC), an independent assessment tool to evaluate the quality of workmanship of construction works.

The final piece in SkyWorld’s company DNA is its emphasis on productivity and efficiency. Ng believes its return on equity, at more than 20%, is one of the highest in the market, owing to its effective cost management and lean organisation. All of its projects are well managed and completed on schedule, if not earlier. From 2014 until December 2022, the developer has launched about 11,500 units, with a take-up rate of more than 97%. This translates into an unsold property rate of below 3%, which Ng says is one of the lowest in the market.

At the heart of SkyWorld is its employees. The company has a people-centric culture that is big on engagement, talent development and inclusivity, making it one of the top workplaces in Malaysia. “I always believe that having highly competent staff at the right time, right place and right position will definitely contribute to high productivity,” Ng says. “We empower our employees to make decisions, as we practise a bottom-up approach. We have won the Kincentric Best Employer Award, not once but four times.

Our employees recognise our efforts and they are committed to giving their best service to SkyWorld.”

The company’s principles show in the exceptional homes that it builds. Lee explains the developer’s vision of providing homebuyers with the ultimate “Sky Living” experience in a sustainable environment. He says: “We place strong emphasis on passive and sustainable designs such as natural lighting, natural cross-ventilation, thermal comfort and large window designs that create a brighter and welcoming atmosphere. For example, the facilities deck at SkyAwani 3 receives direct sunlight between 11.30am to 2.30pm, which greatly enhances the usability of the area.”

In addition, SkyWorld’s homes emphasise layout efficiency, with designs that optimise functionality and maximise the use of space. Customers can also expect smart technology initiatives such as cardless smart access systems, lift destination control systems and automated waste collection systems, as well as a flexible layouts for all their living spaces that promote multiple usage for living, working and gathering. These homes, which are at various stages of completion across Kuala Lumpur, are in well-connected locations with good accessibility, amenities and services.

Perhaps what stands out the most among SkyWorld’s priorities is its focus on quality. The developer has a stringent quality-control process, and it shows. Its seven completed projects, from Sky Meridien in Sentul East to Bennington Residences in Setapak, have recorded high QLASSIC scores. The most notable achievements were for SkyLuxe on the Park, which scored 85% in the high-rise category, and SkyAwani 2, which obtained a 79% score in the Residensi Wilayah category for affordable housing.

SkyWorld’s practice of having all its projects undergo QLASSIC assessment is not common among local builders. “It is a very tedious process to go through the QLASSIC assessment. In 2020, according to CIDB’s annual report, there were 7,655 projects related to construction and infrastructure in Malaysia. Only 4% of these projects were sent for QLASSIC assessment. Imagine, there are 7,655 students in a university but only 4% dare to sit an exam. We are among the top 4% of the developers that dare to send our products for assessment,” Ng says.

Commenting on the company’s high standards, Lee says SkyWorld strongly believes that quality creates happiness and adds value for its customers.

“It’s not just about product quality but also living quality that leads to higher property value, improvement of social and quality of life, and health and well-being,” he explains. To ensure its quality standards are met, SkyWorld has a strict process for selecting vendors to ensure they understand and meet its process flow and quality expectations. Routine training is provided to its project coordinators, consultants, contractors and workers to align them with its Quality Road Map. In addition, the developer carries out a comprehensive and a fully digitalised inspection of its product design and project execution processes, and also uses Building Information Modelling (BIM) to minimise the rework and errors during these processes.

Ng, who took about five years to learn all he could about the property development industry before venturing into it, explains why the company’s pursuit of quality is almost an obsession. “I grabbed every opportunity to gain experience from the top 10 industry players by chatting [with them] and learning from their management at coffee shops and restaurants to gain practical tips on how to be a successful developer and how to build good buildings. At the same time, I also learnt from their failures. They shared their valuable insights, experiences and knowledge with me,” he recalls. “From these conversations, I learnt that the biggest challenge in the property development industry is the quality and workmanship of the houses built.”

The knowledge gleaned made Ng realise that he needed to transform the mindset of all parties in the entire supply chain, including the homebuyers, his employees, contractors, consultants and material suppliers, and educate them so they are aligned with his vision and ensure the quality and workmanship of the houses are improved, hence the building of the SkyWorld Quality Centre. “When everyone becomes knowledgeable, they will know how to evaluate us. This indirectly will motivate us to achieve better standards,” he explains.

SkyWorld’s efforts have not gone unnoticed. Most recently, the developer emerged as the winner of the affordable housing category at the FIABCI Malaysia Property Award 2022. In previous years, it was recognised as one of Malaysia’s and Asia’s top developers, winning multiple awards for sustainability, quality, profit growth, architecture and workplace appeal at the BCI Asia Awards, The Edge Malaysia Property Excellence Awards, Asia-Pacific International Property Awards and many more.

SkyWorld is not content to rest on its laurels. The company has now set its sights on a listing on the Main Market of Bursa Malaysia on July 10, 2023. It aims to raise more than RM150 million, which it will use to expand its land bank, repay bank borrowings, fund working capital and defray listing expenses.

The initial public offering (IPO) involves a public issue of 208 million new shares and an offer for sale of 192 million existing shares. The retail portion amounts to 75 million shares, of which 50 million will be available for application by the Malaysian public via balloting, and 25 million for application by eligible directors, key senior management, employees and persons who have contributed to the success of the company.

Meanwhile, the institutional offering comprises 325 million IPO shares, of which 150 million will be offered to bumiputera investors approved by the Ministry of Investment, Trade and Industry and 175 million will be offered to institutional and selected investors.

With its listing, SkyWorld aims to increase its visibility to investors who share its mindset and goals, and looks forward to further strengthening its position in the market and delivering long-term value to its stakeholders. Lee says, “I would like SkyWorld to be synonymous with quality and innovation, where buyers seek out our developments as a mark of excellence. Ultimately, my dream is for SkyWorld to be a company that is not just successful, but also makes a meaningful difference in Southeast Asia — a company that our customers, employees and stakeholders can be proud to be associated with and that inspires others to follow in our footsteps.”

SkyWorld has a 10-year strategic plan, with the grand dream to be a regional player. It is planning a foray into Vietnam in the near future, with a focus on Ho Chi Minh City. The developer has identified huge opportunities in Vietnam, having studied the market there for more than four years. It points to the fact that the republic is a magnet for foreign direct investment, with a huge demand for houses, and an economy that is driven by its demographics. “Vietnam has a population of close to 100 million. From its demographics, we realise it is also a very young nation, with the majority of its citizens aged between 25 and 45,” says Ng. “In terms of the urbanisation rate, Malaysia’s rate is 78% and still rising. Vietnam’s urbanisation rate is less than 40%; so, it still has plenty of room to grow.”