Speaking to the press at the event were (from left) PKNS chief operating officer Suhaimi Kasdon, Mahmud and PKNS chief technical officer Md Kamarzan Md Rais.
SHAH ALAM: Selangor State Development Corporation (PKNS) is eyeing 12 new projects with a gross development value (GDV) of RM690mil for 2022. The move is to renew interest in the property market and spur the economy.
It has set a sales target of RM584mil for the year 2022. Leveraging on the strength of its property portfolio comprising over 160,000 homes built across 64,500 acres and industrial developments spanning 11,885 acres, PKNS expresses optimism in achieving its targets and unlocking greater value for the state, the community and its stakeholders.
“In addition to new developments, PKNS is also passionate about rejuvenating existing developments by introducing new concepts, repurposing spaces, injecting contemporary designs, and conserving natural gems. We believe by doing so, our developments will continue to excite the community, be it home buyers or entrepreneurs, and uphold the state as an attractive hub for investors,” said PKNS chief executive officer Datuk Mahmud Abbas at the corporation’s 2022 outlook briefing.
“Our goal is clear. It is to create a better life for all. In pursuit of this dream, we make it our daily commitment to anchor all that we do on good governance, commitment to the environment, as well as social and economic growth of the state and nation. We are excited to roll out our development plans for 2022 and to see growth both economically and socially in the state of Selangor,” he said.
PKNS is entrusted with the responsibility to drive economic and social growth as the development arm of Selangor. The corporation, formed in 1964, has developed 11 self-sufficient townships across Selangor which includes a mix of residential growth centres and industrial parks in its 58 years of operations.
For the financial year ended Dec 31, 2021, PKNS recorded about RM900mil from the sale of residential and commercial properties and land against the backdrop of the pandemic and challenging market conditions. PKNS’ portfolio comprises a mix of affordable, mid-range to high-end residential developments, priced from RM400,000 to RM1mil catering to the needs of diverse homebuyers in the state.
In the past year, the corporation has delivered over 4,000 affordable homes under its Rumah Selangorku range. Despite the challenging market conditions, PKNS also witnessed a growing demand in its mid-range homes evident with the encouraging take up rates for properties.
With a landbank size of 5,972.04 acres, as of Jan 21 this year, PKNS says it sees opportunity for growth with the right mix of developments to match emerging market demands. The composition of PKNS’ landbank represents 44% commercial, 13% residential, and 43% mix developments with the largest parcels strategically around economic gateways in Klang, Bernama Jaya and Hulu Langat.
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