Shares of SkyWorld Development Bhd (KL:SKYWLD) gained after resuming trade on Wednesday morning, following the signing of an agreement on Tuesday to jointly develop the country's largest affordable housing project with the Penang state agencies.

Tropicana Corp Bhd and global hospitality company, Banyan Group Ltd has inked an agreement on Tuesday (Dec 10) to jointly develop Skypark Kepler, a new branded residence in Johor.

Noteworthy:

• Freehold
• Built-up size: 4,771 sq ft
• Floor level: mid
• 5 bedrooms, 6 bathrooms
• Semi-furnished
• Nearby amenities: MRT Pusat Bandar Damansara, Bangsar Shopping Centre, KLGCC, Pantai Hospital Kuala Lumpur, Bangsar Village I&II
• Accessibility: SPRINT Damansara and Kerinchi Link, Federal Highway, NPE, Jalan Maarof

When: July 2024

The RM13 billion project is said to be the largest affordable housing project in Penang and Malaysia's history.

The two nominees are Ng Cheng Shin and Ooi Hoot Kuang. 

Launched on Jan 23, ViO Banj’ran occupies 13-acre (5.26-hectare) freehold land, and features a total of 40 three- and two-storey bungalows.

The research house raised its target price for Gamuda by RM1.15 to RM11.67, the highest among 21 covering the stock, and maintained its “buy” call.

The latest contract win is split into three phases and includes the construction of a power substation and two units of show houses.

"Kwasa Land will act as the master developer for this project."

The MOU, which was signed on Feb 2 with Solarvest and focused on developing a green industrial township within DESA 100, is now considered irrelevant due to the land sale.