KUALA LUMPUR, Property developer SkyWorld Development Bhd has signed a memorandum of understanding (MoU) with a Vietnamese partner to hold exclusive negotiations for a proposed RM136 million mixed development project in Vietnam.
In a filing with Bursa Malaysia, SkyWorld said the MoU will allow the group to explore potential collaboration on a residential-led development in Ho Chi Minh City. The talks are expected to finalise terms for a joint venture or acquisition deal within the next six months. “The proposed venture in Vietnam is in line with our long-term strategy to expand regionally and diversify revenue streams beyond Malaysia,” SkyWorld said.
The RM136 million project is targeted at the mid-market segment, with plans for modern residential units complemented by lifestyle and retail components. SkyWorld said demand for quality housing in Vietnam remains strong, supported by rapid urbanisation and a growing middle class.
Analysts view the MoU as a strategic step for SkyWorld, which has been actively seeking overseas opportunities following its successful listing on Bursa Malaysia last year.
The company emphasised that the MoU is not legally binding and the project remains subject to further due diligence, approvals and the signing of definitive agreements. “Should the collaboration proceed, it is expected to contribute positively to the group’s long-term growth,” SkyWorld said.
