Selangor State Development Corporation (PKNS) intends to improve existing townships and property projects by introducing new concepts and incorporating contemporary designs.

According to its chief executive officer Datuk Mahmud Abba, the corporation is also passionate about revitalising existing developments by repurposing spaces and conserving natural gems.

He believes that by doing so, the developments will continue to pique the interest of the community, whether it is home buyers or entrepreneurs, and that the state's reputation as an appealing hub for investors will be preserved.

He also said that PKNS plans to develop 12 new projects with a total estimated gross development value (GDV) of RM690 million this year.

"Our goal is clear, and it is to create a better life for all. We are excited to roll out our development plans for 2022 and to see growth both economically and socially in the state of Selangor," he said in a statement highlighting the corporation's outlook for 2022.

PKNS has set a target of RM584 million in residential sales for 2022, seeing an opportunity for growth with the right mix of developments to meet rising demand.

It expressed confidence in meeting its objectives, citing the strength of its property portfolio, which includes over 160,000 homes built across 64,500 acres and industrial developments spanning 11,885 acres.

Against the backdrop of the pandemic and challenging market conditions, it recorded a total of RM900 million from residential, commercial property sales, and land for the fiscal year ended December 31, 2021.

PKNS' portfolio includes a mix of low-cost, mid-range, and high-end residential developments ranging in price from RM400,000 to RM1 million.

Despite the challenging market conditions, PKNS saw increased demand for its mid-range homes, as evidenced by the encouraging take-up rates for its Rafflesia (Bernama Jaya), Puteri Daffina X (Kota Puteri), Antara Gapi; Selangor Cyber Valley, and Residensi Aurora.

The corporation also delivered over 4,000 affordable homes under its Rumah Selangorku range in the previous year.

As of January 21, 2022, it had 5,972.04 acres of landbank, with the largest parcels strategically located around economic gateways in Klang, Bernama Jaya, and Hulu Langat.

The landbank is made up of 44 per cent commercial, 13 per cent residential, and 43 per cent mixed-use developments.

PKNS sees an opportunity for growth with the right combination of developments to meet emerging market demands.