Sunway City – Sunway Berhad (“Sunway” or “Group”) via its wholly-owned subsidiary, Sunway Bukit Gambier Sdn Bhd, through its joint venture with Umech Land Sdn Bhd had today signed a Joint Development Agreement with Penang Development Corporation (“PDC”), the Penang state’s development arm to collaboratively develop a 559-acre parcel of prime industrial land at Batu Kawan, Penang in exchange for a land entitlement of RM646 million to PDC.
The land is strategically situated around 4km from the Penang Second Bridge, offering excellent connectivity, and is just a 20-minute drive from Penang Island, as well as a 30-minute drive from the Penang Port. The strategic location makes it an ideal site for the proposed Industrial Park, which would complement the Batu Kawan region’s burgeoning industrial areas such as the Batu Kawan Industrial Park 1 (“BKIP 1”) and Valdor Industrial Park.
The proposed Industrial Park will comprise factories, industrial lots and commercial components with a gross development value (“GDV”) of at least RM3.5 billion. The vision for the Industrial Park is to create a dynamic, innovation-driven ecosystem that serves as a global hub for cutting-edge industrial technology, research, development, and collaboration building upon the success of BKIP 1.
Sunway Property Managing Director, Sarena Cheah said, “We are excited to announce the proposed development of the second parcel of industrial land this year to add to our industrial development portfolio. This investment signifies Sunway Property’s commitment to not only create a sustainable industrial park but also to contribute to the economic growth and prosperity of the state of Penang by attracting investments and fostering technological advancements in the region.”
“The strategic development aligns seamlessly with Sunway Property’s dedication to advancing innovation, technology, and sustainable development within the industrial sector, while accommodating the ever-changing requirements of businesses in the digital era,” she added.
In August, Sunway Property acquired a strategic 245-acre freehold industrial parcel in Kuang, Rawang for an Industrial Tech Park which will comprise factories, warehouses, and commercial components with a GDV of at least RM2 billion.
Sunway Property’s extensive experience in sustainable development and its steadfast commitment to harnessing technology will help ensure that the Industrial Tech in Batu Kawan, Penang, not only meets the demands of the industrial sector but also establishes pioneering standards for the entire industry.
With a total landbank of 3,312 acres and a potential gross development value of RM 53.9 billion over a period of more than 15 years, Sunway Property is poised for resilient growth.