SkyWorld accepts LOA to build PR1MA homes in Brickfields

• The proposed development will comprise 491 units of PR1MA Homes. In consideration of the development rights, SkyWorld will pay PR1MA RM32,170,000.

KUALA LUMPUR (Aug 29): SkyWorld Development, via wholly owned subsidiary Aspirasi Cekap Sdn Bhd (ACSB), has received a letter of acceptance (LOA) from PR1MA to build homes in Brickfields.

The proposed development will comprise 491 units of PR1MA Homes, stated SkyWorld in a filing with Bursa Malaysia yesterday. In consideration of the development rights, SkyWorld will pay PR1MA RM32,170,000.

A joint development agreement will be entered into between ACSB and PR1MA within 60 days from the date of the LOA or such other date as may be determined by PR1MA.

According to the filing, PR1MA will be providing the development land for the proposed development and SkyWorld develop and complete the homes using its own funds.

The development will not have any effect on the issued share capital and substantial shareholders’ shareholdings of SkyWorld, stated the company.

However, it is expected to contribute positively to the future earnings and enhance the net assets of SkyWorld, it added.

SkyWorld Development is one of EdgeProp START’s strategic partners. Curvo Residences at Setapak is a development highlighted in this partnership. All SkyWorld Development homebuyers also get to enjoy rewards worth up to RM18,888. 

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!