SkyWorld Development Berhad (“SkyWorld” or “the Group”) today unveiled SkyWorld 2040, the Group’s 15-year Long-Term Strategic Plan (LTSP), which will guide the Group’s next phase of growth towards its Big Hairy Audacious Goal (BHAG) of becoming a Top 30 Property Developer in Southeast Asia by 2040.

The strategy builds on the Group’s on-track execution of its pre-IPO mid-term target to launch RM4.6 billion in Gross Development Value (GDV) by 2026 and sets a clear roadmap for sustainable expansion over the next 15 years.

SkyWorld 2040 is structured into three consecutive five-year phases. Under the first phase (FY2027–FY2031), the Group aims to achieve RM1 billion in Profit After Tax (PAT), supported by a target of RM12 billion GDV launches and RM10 billion in sales over the five-year period.

Group Chief Executive Officer, Lee Chee Seng, said:

“When we embarked on our IPO journey, we set a clear mid-term goal and remained disciplined in its execution. As we approach the completion of that milestone, SkyWorld 2040 represents the next chapter of our growth journey. It provides a long-term roadmap to scale our business, strengthen our capabilities, and create sustainable value for all stakeholders.”

To achieve its first-phase target, SkyWorld will focus on three key growth engines:

Firstly, ‘Go For Launch’ – accelerating development launches with a target of RM12 billion GDV over the next five years to drive sales growth and earnings expansion.

Secondly, +1 SEA Market Entry – strengthening its presence in Southeast Asia with entry into additional selected markets, building on its existing Vietnam presence, subject to product-market suitability and long-term strategic alignment.

Thirdly, New Product Innovation – leveraging its full residential portfolio comprising the Awani Series, SkySignature Series, and X-Premier Series, while introducing the new S-Housing Series to expand access to quality and affordable urban living, particularly within the B40 segment, the largest addressable market.

“Our first five-year plan is centred on doing what we do best, building quality homes for people who aspire to live in cities. Through disciplined execution, a diversified product strategy, and technology-driven innovation, we believe we can achieve our RM1 billion PAT milestone while laying a strong foundation for future regional expansion,” Lee added.

A key enabler of SkyWorld 2040 will be the adoption of Prefabricated Prefinished Volumetric Construction (PPVC) technology. The Group is currently establishing its first PPVC manufacturing plant in Penang, with SkyWorld Pearlmont in Seberang Jaya set to be the first project to implement the technology. Through PPVC, SkyWorld aims to improve construction speed, quality consistency and ESG performance, while building a scalable development platform that can support future affordable housing initiatives and regional expansion opportunities.

As part of its long-term vision, SkyWorld intends to progressively expand beyond Malaysia into selected Southeast Asian markets with strong population and demographic growth, supported by a scalable business model and technology-enabled development capabilities.

SkyWorld 2040 reflects the Group’s confidence in the long-term fundamentals of urbanisation, housing demand, and sustainable city development. The Group remains committed to delivering quality homes, building thriving communities, and generating long-term value for shareholders.

SkyWorld Pearlmont: SkyWorld’s Penang Debut

SkyWorld is making its Penang debut with SkyWorld Pearlmont, its first residential project in the northern region, located in Seberang Jaya, an established township on Penang mainland with existing amenities including hospitals, shopping malls and schools that support immediate liveability for families, working professionals and multi-generational households.

A defining feature of SkyWorld Pearlmont is its use of PPVC technology, which improves build precision and quality consistency. The development is planned to achieve a QLASSIC score of 85%, above the national average, and comes with a 10-year leak-proof warranty and a fixed maintenance fee of 18 sen per square foot, offering homeowners greater long-term cost predictability. The project is delivered under the Rumah Bakat Madani Scheme through a joint development with the Penang Development Corporation.

Find out more about Skyworld Pearlmont.

Source: Google Street View

The proposed underpass connecting Jalan Mount Erskine and Burma Road is expected to commence construction in the fourth quarter of 2026, pending final approval and funding disbursement from the federal authorities.

The approximately 700-metre-long underpass is designed to improve traffic flow along one of Penang Island’s busiest road corridors. The tunnel entrance will be located near the junction in front of Kwangtung & Tengchow Association Funeral Parlour on Jalan Mount Erskine, while the exit will emerge near Penang Adventist Hospital along Burma Road.

The project, estimated to cost RM330 million, will be jointly funded by the federal government and the Penang Island City Council (MBPP), with each party contributing half of the total cost. Land acquisition for the project has reportedly been completed, while preparations for the tender process are awaiting the necessary approvals from the relevant federal agencies.

According to a recent report by Kwong Wah Yit Poh, the construction period is expected to take between four and five years, with completion targeted for the first quarter of 2030.

One of the key features of the project is the construction method, which is expected to allow traffic on the existing road surface to continue operating during much of the tunnelling works. While temporary traffic management measures and lane adjustments may be required during the early stages of construction, the underground excavation itself is not expected to require the full closure of the affected roads.

The project’s main engineering challenges are expected to involve the relocation of existing underground utilities, including water pipes, power cables and telecommunications infrastructure. This phase alone may take up to 18 months to complete. Another major component involves the construction of an effective drainage system to prevent water accumulation within the underpass.

Once completed, the underpass is expected to provide an alternative route for motorists travelling between Mount Erskine and Burma Road areas, helping to improve traffic distribution along a corridor that regularly experiences heavy congestion during peak hours.

Taman Himalaya, a new phase of landed residential development by Pemaju Kelang Lama Sdn. Bhd. located in Permatang Pauh. Situated near Jalan Sama Gagah, the neighbourhood enjoys convenient access to several major road networks, including the Butterworth–Kulim Expressway and the North–South Expressway interchange. The area is also within a short driving distance of Seberang Jaya, Sunway Carnival Mall, educational institutions, healthcare facilities, and other established residential townships in Seberang Perai.

The latest development at Taman Himalaya comprises 78 units of 3-storey terraced homes, which will be developed in two phases. Each unit offers 3 bedrooms and 4 bathrooms. Indicative prices start from RM788,000.

Project Name: Taman Himalaya
Location: Permatang Pauh
Property Type: Residential
Total Units: 78
Built-up Size: 20′ x 40′
Land Area: (to be confirmed)
Indicative Price: RM788,000 onwards
Developer: Pemaju Kelang Lama Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

About Laguna Bay Residences

An affordable housing project by Kobay Properties Teluk Kumbar, strategically located within walking distance of Lexis Suites and a short drive from Penang International Airport. Spanning approximately 1 acre, the development features a 31-story residential tower with a 9-level car parking podium. Offering 900 sq. ft. units with majority of homes boast stunning views of the Malacca Straits.

Find out more about Laguna Bay Residences

Melaka Straits Medical Centre Sdn Bhd, a subsidiary of Oriental Holdings Berhad, formalised a joint venture with Ideal Hasrat Bumiraya Sdn Bhd, part of Ideal Property Group on 28 May 2026, for the proposed development of a tertiary medical centre, named Ideal Oriental Medical Centre, to be undertaken by Star Hill City (M) Sdn Bhd.

The collaboration signals a bold step towards redefining healthcare delivery in Northern Malaysia through a future-ready medical ecosystem that integrates advanced tertiary care, innovative technology, and seamless urban connectivity.

Planned on a 1.9-acre site within the fast-growing Queens Waterfront masterplan, the proposed multidisciplinary medical centre – is the second hospital by Oriental Holdings Berhad – is envisioned to serve both local and international patients, with a strong focus on high-demand subspecialty and tertiary healthcare services. The proposed development is expected for completion by end of 2030.

The proposed medical centre aims to cater to the healthcare needs of residents in Gelugor, Bayan Baru, Bayan Lepas and surrounding communities, alongside Penang’s growing population of professionals, engineers, and industrial workforce concentrated within the Bayan Lepas manufacturing corridor. The development is also strategically positioned to support Penang’s thriving medical tourism sector, particularly international patients seeking advanced healthcare services in the region.

Designed as a digitally driven medical centre, the proposed facility is expected to incorporate advanced medical technologies, robotic-assisted systems, digital infrastructure, and patient-centric innovations to enhance both clinical excellence and patient experience.

Beyond healthcare delivery, the proposed development is also anticipated to contribute positively to Penang’s economy through the creation of high-skilled employment opportunities across healthcare, nursing, allied health, hospitality, digital health, and support services.

With aspirations to attract the foreign-trained Malaysian healthcare talents to return and serve in their homeland, the hospital is expected to generate approximately 1,000 employment opportunities upon full operation, further strengthening Penang’s position as one of Malaysia’s leading destinations for healthcare and medical tourism.

Speaking at the signing ceremony, Dato’ Sri Loh Kian Chong, Executive Chairman of Oriental Holdings Berhad, said the healthcare segment has a long-term vision to improve access to advanced healthcare while supporting the evolution of integrated urban living.

“This collaboration represents more than a hospital development — it reflects our commitment towards building a future-ready healthcare destination that integrates medical excellence, innovation, accessibility, and community wellbeing,” he said.

“As a stakeholder in Ideal Oriental Medical Centre, this partnership represents a landmark moment for the company”, said Puan Sri Datuk Joanne Phor, the Director of Ideal Hasrat Bumiraya Sdn Bhd, who also serves as Executive Director of Ideal Capital Berhad.

The establishment of Ideal Oriental Medical Centre within Queens Waterfront – Ideal Property Group’s flagship integrated waterfront development in Penang, is elevating Queens Waterfront beyond a premier waterfront township into a truly holistic destination that brings together quality living, wellness, business, and connectivity. Driven by a shared leadership vision, this strategic step into the medical industry marks an exciting new chapter for Ideal Property Group, tapping into a sector that continues to demonstrate strong demand both domestically and regionally.

The proposed medical centre development is expected to reinforce Penang’s position as one of Malaysia’s leading healthcare hubs while supporting the state’s long-term aspirations in healthcare excellence, medical tourism, and sustainable urban growth.