Penang Development Corporation unveils RM5b strategic plan

GEORGE TOWN, March 25 — Penang Development Corporation (PDC) today unveiled an ambitious strategic plan for the next five years that included increasing its land bank in the state by 3,000 acres.

PDC chief executive officer Datuk Aziz Bakar said they have 15 projects under its 2024–2028 strategic plan that will cost an estimated RM5 billion.

Advertising

Advertising

A large portion of the costs, about RM3 billion, is to acquire the 3,000 acres of land in North Seberang Perai, Central Seberang Perai and South Seberang Perai, he said.

“We estimated that our land banks will deplete by 2030 so our focus is to start increasing our land bank now to be developed into industrial lands,” he told reporters at the launch of the strategic plan by Penang Chief Minister Chow Kon Yeow.

He said they have yet to identify any locations for the land acquisition exercise.

He added that PDC will also look at land reclamation to increase their land bank.

He said PDC is creating a complete ecosystem to support the industrial sector which includes a distribution hub for logistics and workers’ quarters.

“At the same time, we are also developing more workers’ quarters, we have launched four workers’ quarters projects in the Bandar Cassia area,” he said.

Of the four projects, PDC will develop one while the other three are by the private sector, he said.

Aziz said the quarters can house more than 30,000 workers in the area.

One of the workers’ quarters, located in Penang Science Park North, is expected to be completed this August, he said.

Another two, located in Penang Science Park South and Batu Kawan Industrial Park 3(BKIP3), are still pending planning approvals.

“The fourth workers’ quarters, located in Bandar Cassia, have been awarded to a developer to design and build before handing over to PDC,” he said.

“These are part of our efforts to attract more investors so that when they come, the infrastructure is ready for them,” he said.

He said the industrial lands PDC developed will be based on the “infra ready concept” especially in BKIP3 and Batu Kawan Technology Park (BCTP).

Aziz said an 80-acre land near the Penang International Airport will be developed into a logistics and distribution park.

“A logistic hub will be developed on a 24.6-acre land in the Batu Kawan Industrial Park in Bandar Cassia,” he added.

The PDC strategic plan is focused on land innovation, asset innovation, business sustainability and smart professional (LABS).

Among the projects under LABS included developing a linear waterfront for mixed development on 200 acres of land that will be reclaimed in Bayan Lepas at a cost of RM760 million.

PDC also plans to develop a Medi-City project in Bandar Cassia, together with interested investors, to create an integrated medical hub at a cost of RM12 billion.

Source Link

0 Comments

Leave a Comment