PE Land Sdn Bhd, a pioneer developer in Bandar Cassia, is set to transform the Batu Kawan skyline with its first Grade A and green office tower in the northern region.

Called the Capstone Corporate Suites, this project will offer first-of-its-kind commercial offices and retail units to local and multinational companies seeking a unique and sustainable work environment in Batu Kawan.

Chief Minister Chow Kon Yeow commended PE Land for playing a key role in Batu Kawan’s journey towards becoming a self-sustaining ecosystem, solidifying its position as a destination not only for living and leisure but also for pioneering businesses, attracting investments and fostering economic vibrancy.

“Given our robust manufacturing capabilities, numerous companies are drawn to Penang for establishing their corporate services. This includes the exploration of venues for conducting global business inspections remotely.

“So, the demand for office towers in the state is unsurprising, and in fact, the Penang Development Corporation (PDC) have two similar projects in the pipeline in Bayan Lepas.

“As for this project in Batu Kawan, we are happy with PE Land’s commitment to ensure this initiative becomes a reality, especially considering the growing number of multinational companies here.

“These corporate suites are also capable of supporting other services, such as procurement and accounting-related works by businesses,” Chow said in his speech before officiating the ground-breaking ceremony of the Capstone Corporate Suites project in Batu Kawan yesterday.

The 36-storey tower, which is strategically located adjacent to the Design Village Mall, is estimated to have a development value of RM500 million.

Expected to be completed in 2027, the tower will comprise 17 retail lots ranging from 2,110sq ft to 7,623sq ft, and 395 office spaces ranging from 1,179sq ft to 3,859sq ft.

The development will also include 1,740 covered parking lots with an additional 1,600 lots available next door at Design Village.

The Capstone Corporate Suites, upon completion, will stand as PE Land’s third venture in the area, following two notable projects: the acclaimed 24-acre outlet mall, the Design Village Mall, and the upcoming Anggun Residences, expected to be finished soon.

Meanwhile, PE Holdings Sdn Bhd chief executive officer Joanna Ling expressed her delight and was proud that PE Land has witnessed the transformation of Batu Kawan, from its humble beginnings to the vibrant township it is today.

“The evolution has been inspiring, and we are eager to continue contributing to Penang’s growth story.

“Our commitment to giving back to this community has only strengthened over the years,” Joanna said in her speech.

Among others present during the event were state Local Government, Town and Country Planning Committee chairman Jason H’ng Mooi Lye, Pansar Berhad managing director Datuk Jason Tai, PE Holdings Group managing director James Ling, PE Holdings Group deputy managing director Ronald Ling and Pansar Berhad chief operating officer David Tai.

PE Land is part of Pansar Group, a 60-year-old family-owned conglomerate based in Sarawak with branches and offices in Malaysia, Brunei and Singapore.

Source: Buletin Mutiara

Capstone Corporate Suites, a high-rise commercial development by PE Hospitality (Penang) Sdn. Bhd. in Batu Kawan. Situated adjacent to Anggun Residences and the Design Village, this development offers the convenience of being within walking distance to a plethora of outlet stores. It is also just a mere minutes’ drive to IKEA, about 3km to Penang Second Bridge.

This project consists of a 36-storey lifestyle corporate tower, featuring 395 office suites and a 10-storey car parking podium. Additionally, there will be 17 retail lots situated at the ground level.

Project Name: Capstone Corporate Suites
Location : Batu Kawan
Property Type : Office suites
Built-up Size: (to be confirmed)
Total Units: 395
Indicative Price: (to be confirmed)
Developer : PE Hospitality (Penang) Sdn. Bhd.

Location Map:

Penang has recorded an increase in the supply of affordable houses (RMM) by 154,685 units or 70.31 per cent at various stages from 2008 to December 31 last year.

State Housing and Environment Committee chairman Datuk Seri S. Sundarajoo said from the total, 50,700 units of RMM have been completed followed by 20,249 units under construction while 83,736 units are still at planning or approval stage.

“The RMM segment has strong demand and I urged all developers to continue actively supply RMM and the state government haS also extended Home Ownership Campaign 3.0 Plus (HOC 3.0 Plus) starting January 1 to December 31 this year.

“The policy which was implemented since 2020 is aimed at stimulating the property sector and at the same time assist the people to own houses in Penang,” he told a press conference on the extension of HOC 3.0 and the Property Sector Stimulation Policy at Penang level in 2024.

He said through the HOC 3.0 Plus policy, there are four targeted initiatives which are aimed at the people involving a 10 per cent reduction in the ceiling price of RMM C with a minimum area of 850 square feet and then the second is the initiative to preserve the sale of unsold finished units or “overhang”.

Sundarajoo said that through the second initiative, the reduction of the ceiling price limit for the purchase of properties allowed for foreigners, namely strata properties on the island from RM1 million previously to RM700,000 and Seberang Perai from RM500,000 to RM400,000 while hillside properties on the island from RM3 million to RM1.5 million and Seberang Perai RM1 million to RM750,000.

Source: Bernama

About Sanctuary Terrace

A residential development by IJM Land at Alma in Bukit Mertajam. Located on 8.9 acres of land along Jalan Santuari 2, about a 20-minute drive to both Penang bridges. Nearby amenities include AEON Mall, Tesco Hypermarket, eateries, schools and banks. This development will offer 95 units of 2-storey terrace houses.

*Photos taken in Dec 2023

Find out more about Sanctuary Terrace

Penang will give importance to mega infrastructure projects such as the light rail transit (LRT), airport expansion, and Silicon Island in 2024.

In his New Year message on Sunday, Chief Minister Chow Kon Yeow said the state government is confident that the Silicon Island project will replicate the success of the Bayan Lepas Free Industrial Zone (FIZ), which brought economic renewal to Penang over 50 years ago, Bernama reported.

“It is undeniable that we need Silicon Island to further develop the industrial land in Bayan Lepas to ensure the growth and increase in competitiveness of our state’s leading electrical and electronics (E&E) manufacturing sector,” he said.

While admitting that it might be impossible for all these mega projects to be completed before the end of his tenure as chief minister, Chow reiterated his commitment to initiating these projects for the well-being of the people in the future.

“Penang must continue to lead, inspire and contribute to the well-being of all Malaysians,” he said.

Chow said the state would strive to achieve its “Penang 2030 Vision: A People-centric Smart and Green State That Inspires the Nation” objective to revive the economic sector.

He was grateful to the federal government for constantly working together with Penang to ensure the implementation of projects or programmes that benefit the people.

During an official visit to the state in May, Prime Minister Anwar Ibrahim said the federal government had agreed to provide additional funds to the Penang government to expedite the development of the LRT project in the state.

He had acknowledged that traffic congestion had been a longstanding issue in Penang and that the state was in need of a LRT system as a solution.

The LRT is expected to follow the Bayan Lepas-Komtar-Tanjung Bungah-Air Itam-Butterworth-Kepala Batas-Simpang Ampat route.

The whole project is expected to cost RM10 billion.

Chow urged the people of Penang to maintain harmony for them to live in prosperity and unity, heralding 2024 with “a spirit of love, unity, tolerance and joy”.

Source: FMT Online