Last updated on December 25, 2025
KUALA LUMPUR: Urban property developer SkyWorld Development Berhad is expanding its footprint in the north with the acquisition of 26.4 acres of freehold land in Seberang Perai Tengah, Penang, for RM82.7 million. The purchase, made through its 70% indirect subsidiary Prefab Master (Penang) Sdn. Bhd., will support the company’s large-scale affordable housing projects under the Rumah Bakat MADANI scheme.
The new site will house a factory dedicated to manufacturing prefabricated prefinished volumetric construction (PPVC) modular systems, a key technology enabling faster and more efficient housing development. The land acquisition is expected to be completed within three months, funded via a mix of internally generated funds and bank borrowings.
Located just 12 km from Batu Kawan and 15 km from Seberang Jaya, the site offers excellent infrastructure and accessibility, enabling smooth delivery of modular components to both ongoing development areas.
The factory is expected to become operational by the second half of 2026.
Driving Affordable Housing at Scale
SkyWorld is currently working alongside The Penang Development Corporation and PDC Properties Sdn. Bhd. to deliver over 35,000 affordable housing units in Penang, priced between RM225,000 and RM420,000 — targeted at the B40 and M40 income groups.
“The acquisition of these lands to build a new PPVC modular systems manufacturing factory marks a significant milestone for the Company,” said SkyWorld Development CEO Lee Chee Seng. “It not only establishes our foothold in modular systems manufacturing but also supports the growing pipeline of our affordable housing across the northern region.”
Inspired by Singapore’s success in modular public housing through its partner Teambuild, SkyWorld aims to replicate this model domestically. Lee added:
“The economies of scale reaching over 35,000 units of affordable homes allows the factory to achieve optimal efficiency in production and cost. This paves the way for scaling up our Penang projects while ensuring accelerated and consistent execution across large-scale projects, creating a sustainable competitive advantage that delivers long-term value to all stakeholders.”
Key Project Highlights
| Item | Details |
|---|---|
| Land Area Acquired | 26.4 acres (4 parcels, freehold) |
| Location | Seberang Perai Tengah, Penang |
| Acquisition Price | RM82.7 million |
| Subsidiary Involved | Prefab Master (Penang) Sdn. Bhd. (70% indirect) |
| Factory Target Completion | 2H 2026 |
| Project Alignment | Rumah Bakat MADANI affordable housing initiative |
| Units to be Delivered | 35,000+ units |
| Target Buyer Segment | B40 and M40 income groups |
| Funding Method | Internal funds + bank borrowings |
