According to Sunway Property Development Division (Malaysia and Singapore) managing director Sarena Cheah, the firm has planned to launch numerous project in Penang within the next eight years, worth a total of RM5 billion.
Some of the projects planned in this state includes long-term investment projects such as hospitals, colleges and hotels.
At the moment, the firm is submitting the proposal for an RM2.3 billion integrated development in Paya Terubong. This project will be located on a 23-acre site within the island, and will commence this year following the approval from the local authorities. Meanwhile, construction works will begin in the third quarter of 2017.
Furthermore, the firm is also looking forward to a 500,000 sq ft extension to the prominent Sunway Carnival Mall and a development of a 150-bedroom hospital, both to be commenced in the year 2017. There are also plans to expand the Sunway Hotel, located in Seberang Jaya.
The firm has also committed to adopt a sustainable design for its new double-storey regional office at Anson Road, developed on a 20,000 sq ft site. This will be completed by April 2017.
For the forthcoming years, Sunway will focus more on the Klang Valley, Johor Bahru and Penang. The firm currently has 196 acres of undeveloped land in Penang.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
