Hunza Properties plans to construct a mixed-use project in Penang consisting of hotels, condos, retail outlets, shopping mall, a medical centre, serviced apartments and a tower intended for firms in the business process outsourcing (BPO) industry.
Known as the Penang International Commercial City (PICC), the RM8 billion development will be built on a 17.54ha plot along Jalan Tun Dr Awang in Bayan Baru over the span of 10 years starting in 2018.
“It is set to be a new landmark for the state. It will stimulate population and economic growth and provide job opportunities for the locals here,” said Hunza Group’s Managing Director Datuk Khor Siang Gin.
Moreover, the PICC site will be near a proposed 0.5km-long underpass at the Bayan Baru roundabout. Hunza Properties intends to build it from Krystal Point in Bayan Lepas to someplace close to Kompleks Bukit Jambul to address the frequent traffic jams in the area
In line with this, a consultant of Hunza Properties Bhd is preparing to submit an application for planning permission for the underpass to the Penang Island City Council (MBPP), with the document expected to be submitted later this year, Khor noted.
According to Penang Local Government, Traffic Management and Flood Mitigation Committee Chairman Chow Kon Yeow, the construction of the underpass could take three to five years.
“We will have to wait for the developer to submit their planning permission before going into the details,” he told the media after visiting the Setia SPICE Convention Centre on Monday (23 January).
Meanwhile, Chow lauded the developer of the Setia SPICE Convention Centre, which is expected to ready by February 2017, after about six years since the idea came about.
“Penang will soon have a very modern convention centre.” The completion comes at a right moment, as the state is already attracting more tourists, and gaining recognition as a destination for meetings, incentives, conventions and exhibitions (MICE).
“The convention centre will open its doors for its first function in the first weekend of March,” but it is scheduled to officially open in either May or June this year, added Ng Han Seong, SP Setia Bhd’s General Manager (North).
Image sourced from Getty Images
Diane Foo Eu Lynn, Senior Content Specialist at PropertyGuru, edited this story. To contact her about this or other stories email diane@propertyguru.com.my
