Fajarbaru, Penang Development Corp ink MoU to develop medical city in Batu Kawan
27 Jun 2023
Fajarbaru Builder Group Bhd has signed a memorandum of understanding (MoU) with the Penang Development Corporation (PDC) to develop a medical city and mixed development hub in Bandar Cassia, Batu Kawan.
In a statement today, Fajarbaru Builder’s group chief executive officer, Datuk Seri Eric Kuan Khian Leng, said the proposed development is on approximately 93 hectares of land, and the project has been tentatively named Medi-City Bandar Cassia.
“Upon its completion, Medi-City Bandar Cassia will serve as a medical hub providing eco-tourism and global business services with facilities including a hospital, medical campus, medical supply hub, corporate suites, rehabilitation centre, retirement village, wellness centre and so on,” he said in a statement.
Kuan said as part of the MoU, Fajarbaru would work with professional consultants and industry experts to conduct a market research and feasibility study and develop a proposal on the technical and financial aspects of the entire development.
“The MoU will remain in effect for six months from the date of the agreement or until the signing of a definitive agreement between Fajarbaru and PDC.
“Fajarbaru may request an extension of the MoU for a further three months, subject to PDC’s approval,” he said.
Kuan said the proposal would include non-medical elements, retail, hotel, residential, commercial hub, recreational components and an integrated transport system.
“Our goal is to develop a medical city that integrates into the community, contributing to the health, wellness and economy of the surrounding community while also attracting medical tourists from all over the world. Ultimately, we aim to promote Penang as a regional and global medical hub through Medi-City Bandar Cassia,” he said.
Kuan added that the development of Medi-City Bandar Cassia would spur economic growth and create employment opportunities, boosting the local economy and positioning Penang as a regional and international leader in the healthcare and technology sectors.
Incorporated in 1976, Fajarbaru Builder is an investment holding company with its subsidiaries mainly involved in the construction, property development, logging and timber trading and plantation businesses primarily in Malaysia and Australia.