The Selangor State Development Corporation (PKNS) is eyeing 12 new projects valued at an estimated RM690 million in Gross Development Value (GDV) for the year 2022. With a landbank size of 5,972.04 acres, as at 21 January 2022, PKNS says it sees opportunity for growth with the right mix of developments to match emerging market demands.
The composition of PKNS’ landbank represents 44% commercial, 13% residential, and 43% mix developments with the largest parcels strategically around economic gateways in Klang, Bernam Jaya and Hulu Langat.
Being a state government agency, PKNS is entrusted with the responsibility to drive economic and social growth as the development arm of Selangor. Formed in 1964, it has developed 11 self-sufficient townships across Selangor which includes a mix of residential growth centres and industrial parks.
For the financial year ended 31 December 2021, PKNS recorded RM900 million in turnover from the sale of residential, commercial property and land against the backdrop of the pandemic and challenging market conditions. PKNS’ portfolio comprises a mix of affordable, mid-range to high-end residential developments, priced from RM400,000 to RM1million catering to the needs of diverse homebuyers in the state.
In the past year, the corporation has delivered over 4,000 affordable homes under its Rumah Selangorku range. Despite the challenging market conditions, there has been a growing demand in its mid-range homes as evident by the take-up rates for its Rafflesia in Bernam Jaya, Puteri Daffina X (Kota Puteri), Antara Gapi, Selangor Cyber Valley, and Residensi Aurora.
PKNS expects to achieve approximately RM584 million in sales this year 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.
Entrepreneurs are among the key stakeholders in PKNS’ development focus as it seeks to elevate the reach of existing entrepreneurship enrichment programmes namely, the Graduate Realizing Opportunities Way Forward (GROW) Programme, also known as Program Usahawan Siswazah PKNS and the Program Tunas Niaga Negeri Selangor (PROTUNe) targeting high school students,
PKNS CEO, Dato’ Mahmud Abbas said the corporation is committed to enhancing existing townships and developments. “Our goal is clear; it is 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. We are excited to roll out our development plans for 2022 and to see growth both economically and socially in the state of Selangor.”
“In addition to new developments, PKNS is also passionate about rejuvenating existing developments by introducing new concepts, repurposing spaces, injecting contemporary designs, and conserving natural gems. We believe by doing so, our developments will continue to excite the community, be it home buyers or entrepreneurs, and uphold the state as an attractive hub for investors,” he added.