A white knight developer has emerged to revive the long-stalled Penang World City (PWC) project in Bayan Baru, Penang. This ambitious RM10 billion development, spanning 102 acres of existing and reclaimed land, is set to move forward after years of inactivity. According to The Edge Malaysia, the new developer is restructuring Hemat Tuah Sdn Bhd, which had been mired in financial trouble following the collapse of MBI Group in 2018.

The project’s revival comes on the heels of a turbulent history. Originally launched in 2011, PWC was a joint venture between Ivory Properties Group Bhd and Tropicana Corp Bhd, operating under Tropicana Ivory Sdn Bhd. The development promised to transform the Penang skyline with residential, commercial, and mixed-use components. However, technical delays pushed reclamation works to 2017, and the project faltered due to financial woes and changes in ownership.

By 2018, both Tropicana and Ivory exited the venture, selling their stakes to Hemat Tuah. The latter’s ties to MBI, led by Tedy Teow, further complicated matters. MBI’s pyramid scheme led to its collapse, leaving investors stranded and casting a shadow over PWC’s future.

However, recent developments signal a fresh start. Activity has been observed at the project site, including the sales gallery, while signboards list China Communications Construction Company as the contractor and Mutiara Metropolis Sdn Bhd as the developer. Mutiara Metropolis, formerly Tropicana Ivory, plans to launch 326 serviced apartments and 20 commercial shop offices across from the reclamation site.

Local agents are optimistic about the renewed efforts. “The location is highly strategic, being close to the Penang Bridge and Queensbay Mall. This project will uplift the surrounding areas,” one agent told The Edge Malaysia.

If successful, PWC’s revival could catalyze further growth in the vicinity, complementing projects like Ideal Property’s Queens Waterfront and Asia Green Group’s QuayWest Residence and The Zen. Asia Green also has plans to launch The Pier, featuring 934 serviced apartments and 64 commercial units.

As the new developer finalizes its plans, with a launch expected next year, the focus shifts to reclaiming PWC’s vision of a world-class urban hub. While challenges remain, the emergence of a white knight offers hope for completing one of Penang’s most anticipated developments.

Source: The Edge Malaysia

Following the success of the Kampung Manis redevelopment project, Penang has unveiled plans for another transformative initiative—the Ujong Batu redevelopment project.

State Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu announced that 268 eligible residents of Kampung Ujong Batu would receive free 750 sq ft units, valued up to RM100,000, in exchange for their current homes. The redevelopment will be carried out in two phases.

Phase 1 will include the construction of 300 replacement units, 500 affordable homes (type B2), commercial spaces, community facilities, and car parks. Phase 2 will focus on mixed development, offering affordable homes (type C3), more commercial spaces, community facilities, and additional car parks.

At an engagement session held at Dewan Datuk Haji Ahmad Badawi in Butterworth, Sundarajoo emphasized the project’s strategic location in Perai town, near key roads such as Jalan Bagan Dalam and the Butterworth Outer Ring Road (BORR). He also symbolically presented Letters of Intent (LoIs) to 30 residents.

This redevelopment addresses the long-standing issue of squatters in the area. A recent census conducted by the Penang State Housing Board identified 268 eligible structures on the 15.23-acre site.

Sundarajoo expressed confidence that the project would improve living conditions and create economic opportunities. “This redevelopment will provide organized and efficient housing, generate income through commercial spaces, and improve traffic flow. The state government remains committed to enhancing residents’ welfare and quality of life, especially for the B40 and M40 groups,” he said.

Bagan MP Lim Guan Eng, Bagan Dalam assemblyman K. Kumaran, and other dignitaries also attended the session.

The announcement comes on the heels of the Kampung Manis redevelopment success, where 177 households were assured free 850 sq ft units worth RM400,000 each. The signing of the Memorandum of Agreement (MOA) last month marked a significant milestone in the project.

Penang’s ongoing commitment to housing redevelopment underscores its vision of providing quality homes and improving the lives of its residents.

Taman Alma Permai, a strata housing development by CMC Premier Land Sdn. Bdh. at the ever-bustling township of Alma in Bukit Mertajam. Strategically located near Jalan Alma Ria 2, this upcoming project is adjacent to Jesselton Hills and in close proximity to the Hillpark Residences gated community. Additionally, it is conveniently situated less than a five-minute drive from the Machang Bubok township.

This development to offer a gated and guarded community, featuring a variety of landed housing options, including:

• 33 units of 3-storey bungalows
• 36 units of 2-storey bungalows
• 18 units of 3-storey semi-detached houses
• 14 units of 2-storey semi-detached houses

Project Name : Taman Alma Permai
Location : Alma, Bukit Mertajam
Property Type : Gated and guarded
Tenure: Freehold
Land Area: (to be confirmed)
Built-up Size: 24′ x 45′ onwards
Total Units : 69 (bungalow), 32 (semi-detached)
Indicative Price : RM1,106,000 onwards
Developer : CMC Premier Land Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

The Penang Silicon Design @5km+ initiative was officially launched yesterday, heralding a new era in Malaysia’s integrated circuit (IC) design landscape. Spearheaded by InvestPenang under the Penang state government, the initiative seeks to establish a thriving IC design ecosystem within a 5km+ radius of the Bayan Lepas industrial park.

Prime Minister Datuk Seri Anwar Ibrahim and Chief Minister Chow Kon Yeow officiated the launch at Eastin Hotel Penang, marking the beginning of this ambitious project.

Central to the initiative is the GBS TechSpace, now serving as the Silicon Research & Incubation Space. Alongside this are two other key components: the Penang IC Design and Digital Park @Bayan Lepas and the Penang Chip Design Academy @PSDC. These components form the backbone of a strategy aimed at cementing Penang’s position as Malaysia’s IC design hub.

Chow highlighted Penang’s goal of aligning with global benchmarks like Silicon Valley. “With its integrated ecosystem within the vibrant 5km+ area, Penang is positioning itself at the intersection of IC design and Artificial Intelligence (AI), driving the next phase of technological evolution,” he said.

The state government has allocated RM60 million to fund the initiative, offering incentives of up to RM2 million annually per eligible company. These include subsidies for space and utilities, access to advanced facilities, and talent development programs through the Penang Chip Design Academy. The Federal Government has also pledged RM50 million in additional support.

Five local companies—Filpal, Infinecs Lab, Silicon X, SkyeChip, and Sophic Automation—are the first to occupy the GBS TechSpace, benefiting from these incentives. Their involvement aligns with the National Semiconductor Strategy’s (NSS) goal of developing 10 Malaysian companies in semiconductor design and packaging.

Additionally, global industry leaders, including Alchip, AMD Global Services, Celestica, Microsoft, and Monolithic Power Systems, have established operations at the Penang IC Design & Digital Park. Chow emphasized that their presence would create spillover effects, fostering innovation and knowledge transfer to local startups.

Prime Minister Anwar described the initiative as transformative, propelling Malaysia into the front-end of the semiconductor value chain. “This is a proud moment for Malaysia as we step into the forefront of global technology innovation,” he remarked.

With over 40 IC design companies now based in Penang, the state is solidifying its status as a leader in semiconductor design and innovation.

The Sultan Abdul Halim Muadzam Shah Bridge (Penang Second Bridge) will be temporarily closed from 11pm on 14 December until 10am on 15 December to facilitate the Aspen-Klippa Penang Bridge International Marathon 2024.

State Tourism and Creative Economy Committee chairman Wong Hon Wai announced the closure during a press conference at Komtar last week. He emphasized that the first Penang Bridge will remain operational throughout the event, urging the public to plan their journeys accordingly to minimize inconvenience.

This year’s marathon, scheduled for 15 December, has drawn over 22,000 participants from 65 countries, with 92% being Malaysians. It marks a special occasion, celebrating both the 10th anniversary of the second Penang Bridge and the marathon’s new starting point at Batu Kawan in Seberang Perai.

The race begins at 1.30am for the full marathon (42km), 3.30am for the half marathon (21km), and 6am for the 10km run. To set the mood, PETACE will host a Run Rev Carnival at Vervea Highstreet, Aspen Vision City, on December 14, featuring cultural performances, live bands, and fireworks.

Participants and supporters are encouraged to park at Ikea or Batu Kawan Stadium. For more details, visit the official marathon website. Let’s come together to celebrate endurance, sportsmanship, and Penang’s vibrant spirit!