PETALING JAYA: SkyWorld Development Bhd (SkyWorld) aims to achieve RM1bil in profit after tax (PAT), supported by a launch target of RM12bil in gross development value (GDV) and RM10bil in sales over a five-year period.

The goal, spelt out in the newly launched SkyWorld 2040, builds on the group’s execution of its pre-IPO mid-term target to launch RM4.6bil in GDV by 2026.

SkyWorld 2040 is the group’s 15-year long-term strategic plan, setting a clear roadmap for sustainable expansion over the next 15 years. Under the plan, the group aims to be a Top 30 Property Developer in Southeast Asia by 2040.

"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," said group chief executive officer Lee Chee Seng.

SkyWorld said it will focus on three growth engines of accelerating development launches with a target of RM12bil GDV over the next five years (Go For Launch), entry into more Southeast Asia markets, building on its existing Vietnam presence (+1 SEA Market Entry) and introducing the new S-Housing Series to expand access to quality and affordable urban living, particularly within the B40 segment, the largest addressable market (New Product Innovation). 

SkyWorld also noted that through the adoption of Prefabricated Prefinished Volumetric Construction (PPVC) technology, it aims to improve construction speed, quality consistency and ESG performance. PPVC will be the group’s key enabler in building a scalable development platform that can support future affordable housing initiatives and regional expansion opportunities. It 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. 

"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 RM1bil PAT milestone while laying a strong foundation for future regional expansion," Lee added.

Stay ahead of the crowd and enjoy fresh insights on real estate, property development and lifestyle trends when you subscribe to our newsletter and follow us on social media.