Hunza Properties Berhad started the second half of 2023 with a bang as they successfully broke the ground for Phase 2 of Penang International Commercial City (PICC) here at the doorstep of the soon-to-be-completed MUZE at PICC.

PICC was first unveiled to the public back in 2018 in conjunction with the Group’s 40th Anniversary. With a massive gross development value (GDV) of RM7.5 billion and long-term real estate investment value of RM2.5 billion on a 43-acre freehold land, it is expected to create more than 15,000 job opportunities upon its complete manifestation. The first phase, MUZE at PICC, was launched shortly after in 2019 to a great reception from both the local and international markets.

After more than four years-and despite the onslaught of the pandemic from 2020-2022-MUZE at PICC will finally be completed within the next few months to the title of “Tallest Smart Residential Building in the Northern Region of Malaysia”. The penthouse component, MUZE Signature VI, which was designed by the world-renowned YOO from the UK will also be launched shortly.

In time for its 45th anniversary, Hunza Group will embark on the next phase of PICC which comprises PICC Commercial Hub and SENZE at PICC. The PICC Commercial Hub will be at the heart of the entire development with a shopping mall, a 5-star hotel, a Global Business Services (GBS) hub, and high-grade office spaces in the mix. More details on the hotel and the mall’s anchor brands will be revealed across 2024.

“The combined long-term investment value for our PICC Commercial Hub will be around the range of RM1.3 to RM1.5 billion. The different components will also bring about 15,000 job opportunities to the state of Penang,” said Dato’ Khor Siang Gin, the Group Managing Director of Hunza. He also said that the Group commits to creating positive ripple effects to the surrounding communities through external infrastructure upgrades that will involve approximately RM130 million on top of job creation and the establishment of a vibrant social hub for the township of Bayan Lepas.

The other half of Phase 2 – SENZE at PICC – will be Hunza Group’s biggest endeavour to date. With 1,680 furnished units of serviced residences spread across 3 towers, the Group intends to present a brand-new living experience amidst the metropolitan setting of PICC. The project will be officially launched with more details in the coming months.

Earlier on, YB Jagdeep Singh-the Penang State EXCO for Housing, Local Government, and Town & Country Planning – delivered his speech with much optimism for the upcoming Phase 2. “When Phase 2 is completed down the road, I believe it will be able to rival those landmark developments we often see in capital cities around the world,” said YB Jagdeep. He also mentioned that the Penang Housing Board is collaborating with Hunza Group for the former’s first RMMPg (Rumah Mampu Milik Pulau Pinang) – The Millennia at Bukit Gedung.

In his congratulatory remarks, YAB Chow Kon Yeow, who is the Chief Minister of Penang and Guest of Honour at the event, said: “PICC will be an embodiment of what Penang aspires to be for the future: vibrant, integrated, metropolitan, forward-looking, and powered by technology. With the myriad of commercial components at play in Phase 2, it will further exemplify Penang’s potential as a major economic gateway as well as amplify the variety of job opportunities in the State.”