SkyWorld Development Berhad (“SkyWorld” or “the Group”) has been recognised as the Best Performing Company in the Property Sector at The Edge Malaysia ESG Awards 2026, reaffirming the Group’s continued commitment to integrating environmental, social and governance (“ESG”) considerations into its business strategy and operations.

Organised by The Edge Malaysia in collaboration with Bursa Malaysia and FTSE Russell, the awards recognise public-listed companies that demonstrate strong performance and progress in advancing ESG practices.

The recognition reflects SkyWorld’s continued efforts to embed sustainability across its business, from responsible property development and quality management to environmental stewardship, social impact and corporate governance.

SkyWorld Development Berhad Chief Executive Officer, Mr Lee Chee Seng, said:

“We are honoured to be recognised as the Best Performing Company in the Property Sector at The Edge Malaysia ESG Awards 2026. This recognition is particularly meaningful as it reflects the progress we have made in embedding ESG into the way we conduct our business and create long-term value for our stakeholders.”

“At SkyWorld, we view sustainability not as a separate agenda, but as an integral part of responsible city development. It shapes the way we design and deliver our developments, manage our operations, engage our stakeholders and contribute to the communities in which we operate.”

The Group’s ESG approach is anchored in its broader purpose of “Make Living Better”, which guides SkyWorld’s efforts to create quality homes, better living environments and sustainable communities.

As the Group continues to grow its development footprint, SkyWorld remains focused on balancing business performance with responsible development, strengthening resilience and creating sustainable value for its stakeholders.

A key component of SkyWorld’s sustainability efforts is its adoption of Prefabricated Prefinished Volumetric Construction (PPVC), an advanced construction methodology that moves a significant portion of the building process from conventional construction sites into a controlled factory environment.

By prefabricating building components in a controlled setting, PPVC can help minimise material wastage, improve construction consistency and reduce activities typically carried out on-site. The approach also contributes to a safer and more efficient construction environment.

For SkyWorld, the adoption of technology and innovation is part of a broader effort to improve the way homes and communities are delivered, balancing quality, efficiency and sustainability throughout the development lifecycle.

The Group continues to explore practical solutions that can contribute to more sustainable development while enhancing the quality of living for the communities it serves.

SkyWorld’s recognition at The Edge Malaysia ESG Awards 2026 also marks its continued presence among Malaysia’s leading companies demonstrating strong ESG performance, following its recognition as Emerging Leader at the awards in the previous year.

Buying a strata property could eventually involve looking beyond the purchase price, monthly instalment and maintenance fee, with the government proposing that longer-term maintenance and replacement costs be disclosed in sale and purchase agreements.

The proposal is part of the National Housing Policy (Dasar Perumahan Negara or DRN) 2026-2035, which takes a life-cycle approach to housing by looking not only at construction and ownership, but also the cost of operating, maintaining and eventually replacing building components.

Under the proposed policy, sale and purchase agreements for strata housing could include estimated maintenance charges and replacement costs throughout the property’s useful life. This would give buyers a clearer picture of the potential cost of ownership over the longer term.

Strata properties, such as condominiums and apartments, comprise individually owned parcels together with common property including lifts, corridors, swimming pools, landscaping and other shared facilities. Owners contribute maintenance charges and sinking funds towards the upkeep of these areas.

The distinction is important because the condition and future repair requirements of common facilities can affect both ownership costs and property values.

The DRN also proposes the use of Life Cycle Costing (LCC) in the design and maintenance of public housing. LCC considers the total cost of an asset over its useful life, including operation, maintenance and future replacement. The policy refers to the LCCsoft application developed by the Construction Industry Development Board (CIDB) and the JKR Life Cycle Costing manual.

At the management level, the policy proposes assessing strata management based not simply on whether maintenance charges are low, but whether expenditure is adequate and sustainable based on factors such as a development’s age, design, facilities and condition.

The government also plans to strengthen the capacity of Joint Management Bodies (JMBs) and Management Corporations (MCs), alongside amendments to the Strata Management Act 2013 (Act 757).

Greater professionalisation of building and property management is another focus, with more training and professional managers needed to handle increasingly complex strata developments, including common facilities, finances, maintenance and insurance.

For older developments, the policy could also bring greater emphasis on building-condition and dilapidation reports. These assessments could help determine whether a building should be maintained, rehabilitated or redeveloped as part of urban renewal efforts.

The DRN further proposes stronger urban renewal guidelines, cost-benefit analyses for redevelopment projects and greater protection and participation of existing communities.

Meanwhile, Universal Design Guidelines are proposed for all new housing developments, with the aim of making homes more accessible to older residents and persons with disabilities.

For prospective strata buyers, the biggest change could ultimately be greater transparency over the real cost of owning a property.

Instead of asking only, “How much is the maintenance fee?”, buyers may increasingly need to consider another question: “How much will it cost to maintain this building throughout its useful life?”

The DRN signals a broader shift towards treating housing as a long-term asset that must be properly planned, managed and maintained — rather than simply a property that is built and sold.

Mirage Beach Front Residences, a high-rise mixed development by Kobay Development on a 1.5-acre seafront site along Jalan Tanjung Bungah. The project is located diagonally opposite Grand Ocean Condominium, with several seafood restaurants within walking distance.

The development comprises a 40-storey commercial block featuring 299 serviced residence units and a 12-level car park podium. Facilities will be located on Levels 15 and 16, while seven shop units are situated on the ground levels.

This project is still pending for approval, more details to be available upon official launch.

Property Name: Mirage Beach Front Residences
Location : Tanjung Bungah
Property Type : Mixed development
Total Units : 299 (serviced residence)
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : Super Tropica Development Sdn. Bhd. (Kobay Property)

DISCLAIMER: This article is solely based on research done using publicly available data at the time of publication. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

Armenian Park in George Town is set to take on a vibrant pink glow as colourful decorations are installed ahead of this year’s Mid-Autumn Festival.

The festive displays are gradually transforming the park into a photogenic setting, with the predominantly pink decorations adding a warm and romantic touch to the historic surroundings.

Village Community Management Council (MPKK) Kampung Kolam chairman Quah Peng Eow said this year’s decorations carry the theme “Mid-Autumn in Nanyang”, drawing inspiration from the rich cultural heritage and distinctive aesthetics of the Nanyang region.

The decorations are expected to be completed ahead of a lighting-up ceremony on Sept 6, which will be officiated by Penang Chief Minister Chow Kon Yeow.

Following the ceremony, the decorations will remain at Armenian Park for one month, allowing members of the public to visit, take photographs and enjoy the festive atmosphere with family and friends.

The celebrations will culminate in a Mid-Autumn Festival carnival at the park on Sept 19.

Quah said the combination of the festive decorations, lighting-up ceremony and carnival is aimed at creating a lively and memorable celebration for both the local community and visitors.

The Mid-Autumn Festival, traditionally celebrated on the 15th day of the eighth month of the lunar calendar, is associated with the full moon and gatherings with family and friends.

Image source: Buletin Mutiara

Ongoing developments on Andaman Island by E&O

Eastern & Oriental Bhd (E&O) remains confident of achieving its RM1 billion property sales target for FY2027, following a strong start to the financial year.

The property developer recorded RM356 million in property sales for the first quarter ended June 30, more than double the RM? recorded a year earlier. Penang remained its key market, contributing 72% of quarterly sales, while the Klang Valley accounted for the remaining 28%.

Managing director Kok Tuck Cheong said the group expects continued economic and population growth in Penang to support property demand. He highlighted the state’s limited land availability and George Town’s role as a commercial, tourism and financial hub as key factors underpinning the outlook.

“Land scarcity” is also expected to encourage existing homeowners to upgrade, further supporting demand for E&O’s projects.

Penang accounted for 77% of the group’s RM1.72 billion unbilled sales as at June 30, with the Klang Valley contributing the remaining 23%.

Kok said E&O expects its performance to strengthen in FY2027 if the current momentum continues, following a record FY2026. The group is also expected to benefit from Malaysia’s economic expansion, growth in the northern corridor and a potential recovery in the global semiconductor industry.

For 1QFY2027, E&O’s net profit rose 28% year-on-year to RM58.1 million, from RM45.4 million previously, while revenue increased 53.4% to RM281.5 million.

The strong quarterly performance follows a record FY2026, when net profit climbed 31.2% to RM221.21 million, while revenue reached an all-time high of RM867.64 million.

E&O is also set to launch two new projects in FY2027. Senna & Fera Phase 5 will comprise 46 landed homes with an estimated gross development value (GDV) of RM197 million, while the first phase of Plot 16A-1 on Andaman Island will feature 440 serviced apartments with an estimated GDV of RM680 million.