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 nation’s 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.

𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐉𝐃𝐀:
🏘 Development of Rumah Mampu Milik and Rumah Bakat Baru MADANI housing schemes.
💰 Homes priced between RM225,000 and RM420,000, catering to the B40 and M40 income groups.
🌍 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 HHQ’s 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