A newly proposed commercial development in the heart of George Town. It is located on a 1.04-acre plot at the intersection of Jalan Anson and Jalan Macalister, directly opposite Ghee Hiang, and just a stone’s throw from 22 Macalisterz and Tropicana 218 Macalister.

The project involves the restoration of the existing two-storey building and the construction of a new 40-storey serviced residence block. The new building will feature several components: retail spaces across three levels—specifically on levels 1, 2, and 40. Parking facilities will occupy ten levels, from level 2 to level 11, to serve both residents and visitors. An office floor will be located on level 12, while levels 13 to 38 will house 250 serviced apartment units. Several community facilities will also be incorporated across multiple floors, including on the rooftop.

The development is currently in the planning stage. More details will be available upon the official launch.

Project Name: (to be confirmed)
Location : George Town
Property Type : Serviced residence
Total Units: 250
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : (Follow us to find out more)

About Terraces Condominium

A highrise residential development by IJM Land at Bukit Jambul, Penang. Strategically located on 9.32 acres of land next to INTI International College. It comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from.

*Photo taken in Mar 2025

Find out more about Terraces Condominium

The large-scale construction phase of the Penang Mutiara Light Rail Transit (LRT) line is expected to commence in the fourth quarter of 2026, marking a significant milestone for one of the state’s most anticipated public transport projects.

Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) Chief Executive Officer, Datuk Mohd. Zarif Hashim, announced that appointed contractors will first begin with soil investigation works before finalising the rail line’s design based on site conditions.

“Once the design is finalised, the first step will involve identifying and relocating existing utilities at the construction sites,” he said. “In the next six months, the public will start seeing machinery being deployed to carry out these utility relocation works. However, heavy construction activities, such as pillar installation, will only begin in the final quarter of next year.”

Speaking to reporters during the 2025 Mutiara LRT Hari Raya celebration held at The Top, Komtar, Mohd. Zarif also shared that the LRT project will take approximately five years to complete and is targeted for full completion by 31 December 2031.

“This timeline is typical for mega infrastructure projects, which usually follow an ‘S-curve’ development pattern—slower progress in the initial stages followed by acceleration once critical phases are underway,” he added. “We are aware that the people of Penang have been waiting a long time for this LRT, and we are committed to delivering it efficiently.”

In an earlier statement on 21 April 2025, MRT Corp confirmed that the project remains on track according to schedule. Significant progress has been made in recent months, including the approval of preliminary works under Section 20A of the Town and Country Planning Act 1976, granted on 15 April 2025.

Additionally, land acquisition efforts have advanced rapidly, with access secured for 86 land lots to date. The gazettement process under Section 8 of the Land Acquisition Act 1960 has also been completed—a major achievement ahead of the original target set for October 2025.

The 29.5-kilometre Mutiara LRT line will feature 21 strategically located stations and aims to enhance connectivity between Penang Island and Seberang Perai. It is expected to significantly ease traffic congestion and improve public accessibility across the region.

The main alignment includes a route stretching from the southern reclaimed island of Penang (PSR-A) to Penang Sentral and Komtar Station in George Town. Train services will run in alternating loops across the line once operational.

PDC Properties Sdn. Bhd. (PDCP), a subsidiary of Penang Development Corporation (PDC), has entered into a significant financing agreement with Maybank Islamic Berhad to support several upcoming residential and commercial developments across Penang. The collaboration will provide working capital to facilitate the execution of projects with a total cost of RM1.09 billion.

According to PDCP, the financing will support the development of Cassia Cempaka Phase 3 in Batu Kawan, which will consist of 92 units of double-storey terrace homes with a total project value of RM71 million. Construction for this project is expected to commence in May 2025. Another project included under the financing is Bertam @ Damai Lestari in Kepala Batas, which is already under construction. It comprises 20 semi-detached homes and 28 double-storey terrace units, with a combined value of RM35.2 million.

In addition to these, three projects in the Northeast District have already received planning and building approvals. Burma Square @ Legasi Burma, located along Jalan Burma in George Town, will feature a 27-storey mix of serviced apartments, condominiums, and commercial units, with a total development value of RM511 million. BJ 1 in Bukit Jambul will offer 583 condominium units with an estimated value of RM459.9 million, while One Mutiara in Pantai Jerjak will provide 356 affordable housing units worth RM115.9 million.

PDCP described the financing as a crucial step in accelerating project delivery and enhancing housing options across the state. The collaboration also reflects strong confidence from the banking sector in PDCP’s ability to undertake large-scale, sustainable developments that align with Penang’s long-term urban planning goals.

GSD Land cordially invites you to the Exclusive Pre-Launch and Signing Ceremony Event

Experience the unveiling of G’Vinton Executive Residences & Suites before anyone else. Join the event on 26 April 2025 for an exclusive pre-launch showcase and be among the first to explore the refined living concepts, curated spaces, and investment opportunities.

✨ Date: 26 April 2025
📍 Venue: Lava Mansion, (Level 3, Skyridge Event Hall) [Location]
🕘 Time: 1:00 PM – 3:00 PM

Indulge in a personalized preview, enjoy light refreshments, and secure your preferred unit with priority selection privileges.

Contact GSD Land at +6017-7355932 to RSVP and secure your spot.

The future of urban luxury awaits!