KUALA LUMPUR: SkyWorld Development Bhd is expanding its presence in Penang with the soft opening of SkyWorld Gallery @ Bandar Cassia in Batu Kawan, marking another milestone in the property developer's expansion in the northern region.
The new gallery follows the opening of its first Penang sales gallery in Seberang Jaya earlier this year and reinforces the developer's commitment to delivering quality homes to more communities.
SkyWorld said the gallery reflects its brand purpose, "Make Living Better", through thoughtfully designed homes that prioritise quality, innovation and improved living experiences.
Chief executive officer Lee Chee Seng said the expansion would be supported by innovative construction methods, including prefabricated prefinished volumetric construction (PPVC), to improve building quality and efficiency.
"As we continue to expand our presence in Penang, we remain committed to delivering quality homes through innovation, including the adoption of prefabricated prefinished volumetric construction (PPVC) technology to enhance construction precision, quality and efficiency, " he said.
SkyWorld will adopt PPVC for its Batu Kawan development. The method involves manufacturing building modules in a controlled factory environment before transporting them to the construction site for assembly.
Lee said the approach could improve construction precision and consistency, enhancing workmanship quality while increasing efficiency.
In August, SkyWorld said it was targeting new launches with a combined gross development value (GDV) of more than RM2 billion for the financial year 2027 (FY27).
The planned launches are expected to broaden its portfolio of revenue-generating developments while keeping the company on track to achieve its post-initial public offering target of RM4.6 billion in cumulative launches by the end of 2026.
SkyWorld's net profit surged 84.3 per cent year-on-year to RM5.3 million in the first quarter ended June 30, 2026, driven by higher contributions from its ongoing property developments.
Revenue rose 45.7 per cent to RM108.7 million, supported by progressive revenue recognition from a broader base of five ongoing developments, while gross profit increased 17.1 per cent to RM31.6 million.
On the stock market, SkyWorld shares have fallen 32 per cent from their high of 50 sen to close at 34 sen on Friday, a decline of 16 sen year-to-date.
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