SkyWorld acquires Batu Kawan land for inexpensive housing mission
SkyWorld Growth Bhd is ready to broaden its footprint in Penang with the acquisition of a 25.9-acre land parcel in Batu Kawan for RM48.51 million. The land, often called Parcel 1, is a part of a 161.5-acre web site in Bandar Cassia, Seberang Perai Selatan, earmarked for the event of Rumah Bakat Madani inexpensive houses beneath a joint initiative with the Penang Growth Company (PDC) and its subsidiary, PDC Properties.
This acquisition follows approval secured at SkyWorld’s extraordinary basic assembly in April 2025, with the land priced at RM43 per sq. foot. The corporate’s wholly owned unit, SkyWorld Cassia Growth Sdn Bhd, signed the settlement with PDC as a part of the broader Rumah Bakat Madani inexpensive housing initiative.
First introduced in December 2024, the Rumah Bakat Madani mission goals to cater to middle-income earners with month-to-month family incomes beneath RM11,800. The items, priced between RM225,000 and RM420,000, will function fashionable amenities similar to a swimming pool, fitness center, multipurpose corridor, and playground. Functions shall be open to each locals and non-residents working in Penang.
The Rumah Bakat Madani growth spans two key websites — the Batu Kawan tract and a 34-acre plot in Seberang Jaya — with Parcel 1 strategically positioned close to Jalan Cassia Barat 1, near the Design Village Outlet Mall.
SkyWorld mentioned the acquisition shall be financed by means of a mix of inside funds, financial institution borrowings, and remaining proceeds from its IPO. Completion is predicted by the second quarter of 2026.
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