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PKNS to roll out 12 projects with a total GDV of RM690m in FY2022

PETALING JAYA (Jan 27): The Selangor State Development Corp or Perbadanan Kemajuan Negeri Selangor (PKNS) — the development arm of Selangor — plans to launch 12 projects with a total gross development value (GDV) of RM690 million in FY2022.

At the corporation’s outlook briefing on Wednesday (Jan 26), PKNS CEO Datuk Mahmud Abbas (pictured) said: “We are excited to roll out our development plans for 2022 and to see growth both economically and socially in the state of Selangor.”

“We plan to launch 12 projects with a total GDV of RM690 million in FY2022. Our sales target for the residential projects this year will be over RM500 million. Some of the projects will be located in Antara Gapi, Bernam Jaya and Tanjung Malim,” Mahmud revealed.

PKNS chief technical officer Md Kamarzan Md Rais said the corporation “recently unveiled Rafflesia 2, which has a GDV of over RM100 million, in Bernam Jaya last week. The booking has been encouraging.

“Our next launch will be a residential project of 232 apartment units, which has a GDV of more than RM80 million, in Seksyen 16, Shah Alam, which we target to launch in June this year,” Kamarzan said.

“Our target of launches this year will mostly be landed homes and one apartment projects, that are lower than the RM500,000 price bracket. We plan to roll out more of the projects in 2H2022.

“Our target market will be young families, first-time homebuyers in the lower-middle income group. Our goal is clear; 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,” said Mahmud.

Continued growth

As of January this year, PKNS has a total landbank of 5,972.04 acres (44% commercial, 13% residential, and 43% mix developments) with the largest parcels strategically around economic gateways in Klang, Bernam Jaya and Hulu Langat.

PKNS is responsible for driving economic and social growth as the development arm of Selangor. Formed in 1964, PKNS has developed 11 self-sufficient townships across Selangor which include 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 a total of approximately RM900 million in sales of residential and commercial properties, and land against the backdrop of the pandemic and challenging market conditions.

Its portfolio comprises a mix of affordable, mid-range to high-end residential developments, priced from RM400,000 to RM1 million. In 2021, PKNS has delivered over 4,000 affordable homes under its Rumah Selangorku range.

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, PKNS plans to elevate existing entrepreneurship enrichment programmes among its key stakeholders, namely the Graduate Realising Opportunities Way Forward (GROW) Programme, also known as Program Usahawan Siswazah PKNS for potential graduate entrepreneurs and the Program Tunas Niaga Negeri Selangor (PROTUNe) targeting high school students. The latter was mooted by the Economic Affairs Ministry and carried out by PKNS in collaboration with the Selangor State Education Department.

Mahmud also highlighted the corporation’s commitment to enhance both new and existing townships.

“We will be putting more emphasis on environmental, social and governance elements in our developments. We are also passionate about rejuvenating existing developments by introducing new concepts, repurposing spaces, injecting contemporary designs, and conserving natural gems.”

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