KUALA LUMPUR (June 23): Almost a year after its listing on the local bourse, SkyWorld Development Bhd (KL:SKYWLD) has launched various strategies to grow its businesses further, such as expansion outside of Kuala Lumpur, maiden overseas ventures as well as property investment. All these are expected to help in tripling the company’s market capitalisation in five years, according to chief executive officer Lee Chee Seng.

At the same time, the developer keeps itself busy with its bread-and-butter business — property launches. Lee notes that there will be three launches in the financial year ending March 31, 2025 (FY2025), namely SkyAmanyi, Cheras; Silverlake in SkySanctuary, Setapak; as well as SkyAwani 6, Setapak.

Spanning 3.08 acres (1.25 hectares) of land, the RM371 million SkyAmanyi will be a Green Building Index-certified building with 510 units, sized from 1,097 to 2,901 sq ft. Silverlake, meanwhile, is a RM584 million project offering 830 units of 1,170 and 1,405 sq ft in two blocks. As for the RM191 million SkyAwani 6, there will be 638 units in one block.

The same issue also features The Edge Malaysia | Savills Klang Valley Residential Property Monitor 1Q2024, where Savills Malaysia director of research and consultancy Fong Kean Hwa observes more new completions and transactions recorded in the Klang Valley residential property market during the first quarter of this year than in 1Q2023. He also expects the residential property market to gain momentum in 2024 with more new completions.

There is also a Streetscape story on a row of two-storey shopoffices along the unassuming street of Jalan SS21/34 in Damansara Utama, Selangor. According to CCO & Associates (KL) Sdn Bhd director Chan Wai Seen, the shopoffices on Jalan SS21/34 have been around since the 1970s. “The micro location may seem secluded. However, its macro location within Petaling Jaya appeals to the long-time residents and business operators there. These businesses serve mainly the nearby residents, but are also able to attract other clients or visitors despite the secluded location.”

This week’s column is by the Master Builders Association Malaysia (MBAM), which celebrates its 70th anniversary this year with a renewed resolve to push the frontiers of digitalisation and sustainable development.

Over in Singapore, a research paper published by Huttons Asia shows that freehold and 999-year leasehold condominium units constitute 43.4% of Singapore’s non-landed private residential market.  On the other hand, 99-year leasehold condo units make up 56.4% of the non-landed housing supply, while a handful of 60-year leasehold developments represent the remaining 0.3%.

Read the stories in City & Country, in the June 24, 2024 issue of The Edge Malaysia weekly.

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