HHQ advised SkyWorld Development Berhad in its Joint Development Agreement (JDA) with Penang Development Corporation (PDC) and Properties Sdn Bhd (PDCP). This project is set to deliver the nationโs largest affordable housing initiative, with a gross development value (GDV) of RM13 billion in Penang.
๐๐๐ฒ ๐ก๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐: ๐ Development of Rumah Mampu Milik and Rumah Bakat Baru MADANI housing schemes. ๐ฐ Homes priced between RM225,000 and RM420,000, catering to the B40 and M40 income groups. ๐ Acquisition of 195.54 acres of land in Batu Kawan and Seberang Jaya for RM502.7 million and a project management fee of RM40.2 million.
The signing ceremony, held in Kuala Lumpur, was witnessed by Prime Minister Datuk Seri Anwar Ibrahim, Housing and Local Government Minister Nga Kor Ming, and Penang Chief Minister Chow Kon Yeow.
This landmark agreement underscores HHQโs expertise in managing large-scale, high-stakes development projects and its continued commitment to creating impactful solutions for its clients.
๐๐๐ ๐๐๐ฏ๐ข๐ฌ๐๐ฌ ๐๐ค๐ฒ๐๐จ๐ซ๐ฅ๐ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ก๐๐ ๐จ๐ง ๐ฅ๐๐ง๐๐ฆ๐๐ซ๐ค ๐๐๐ญ๐ฏ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐๐๐จ๐ซ๐๐๐๐ฅ๐ ๐ก๐จ๐ฎ๐ฌ๐ข๐ง๐ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ
HHQ advised SkyWorld Development Berhad in its Joint Development Agreement (JDA) with Penang Development Corporation (PDC) and Properties Sdn Bhd (PDCP). This project is set to deliver the nationโs largest affordable housing initiative, with a gross development value (GDV) of RM13 billion in Penang.
The team was lead by Justine Lim, LIM YOKE WAH and Noelle Low Pui Voon, partners in HHQ’s Real Estate and Corporate Real Estate Practice Group, together with Managing Partner, Dato’ Quek Ngee Meng, and Associate, Laurel Lim, from the Capital Markets and M&A team.
๐๐๐ฒ ๐ก๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐๐:
๐ Development of Rumah Mampu Milik and Rumah Bakat Baru MADANI housing schemes.
๐ฐ Homes priced between RM225,000 and RM420,000, catering to the B40 and M40 income groups.
๐ Acquisition of 195.54 acres of land in Batu Kawan and Seberang Jaya for RM502.7 million and a project management fee of RM40.2 million.
The signing ceremony, held in Kuala Lumpur, was witnessed by Prime Minister Datuk Seri Anwar Ibrahim, Housing and Local Government Minister Nga Kor Ming, and Penang Chief Minister Chow Kon Yeow.
This landmark agreement underscores HHQโs expertise in managing large-scale, high-stakes development projects and its continued commitment to creating impactful solutions for its clients.
View the announcement on Bursa Malaysia here: https://lnkd.in/gFS_mpf9