Phase 2 of Bayan Lepas commercial hub project kicks off
01 Jul 2023
HUNZA Properties Group has marked the groundbreaking of Phase 2 of its Penang International Commercial City (PICC) development in Bayan Lepas.
Its managing director Datuk Khor Siang Gin said this phase introduced the PICC Commercial Hub, which will serve as the key component of the landmark development when completed in a few years’ time.
“It will have a shopping mall, a five-star hotel, a Global Business Services (GBS) hub and premium office spaces, with a combined long-term investment value ranging from RM1.3bil to RM1.5bil.
“This development is poised to create approximately 15,000 job opportunities in Penang, revolutionising the economic landscape of the Bayan Lepas township.
“Envisioned as a vibrant social and cultural hub, the shopping mall within PICC will span an impressive floor space of 1.3 to 1.5 million sq ft,” he said during the groundbreaking ceremony.
Siang Gin said the aim of the project was also to redefine the retail experience and becoming a hub for wellness and education.
He said 1,680 units of furnished, freehold serviced residences called “Senze at PICC” across three towers will be an integral part of Phase 2.
“We are committed to creating value for the surrounding communities through external infrastructure upgrades that include road widening and building flyovers and an underpass around PICC.
“We will be spending RM130mil for these enhancement initiatives that will also tie into the state’s plan of having a light rail transit (LRT) station within PICC under the newly announced Tanjung Bungah-Bayan Lepas line.”
Since the acquisition of the 17.4ha freehold land in 2010, Siang Gin said the company had allocated RM100mil to relocate 823 squatters on the land.
“This initiative ensured that they were provided with monetary compensation or new housing units in the thriving township of Bayan Lepas,” he added.
Also present at the groundbreaking ceremony were Penang Chief Minister Chow Kon Yeow, state local government committee chairman Jagdeep Singh Deo, state transport and infrastructure committee chairman Zairil Khir Johari and state environment and welfare committee chairman Phee Boon Poh.
State social development and non-Islamic religious affairs committee chairman Chong Eng, Pulau Tikus assemblyman Chris Lee and Hunza Properties Bhd founder Datuk Seri Khor Teng Tong were also at the event.
Chow said the start of PICC’s Phase 2, with its integrated components including the PICC Commercial Hub, was expected to support Penang’s growth, particularly in the southwest district.
“Penang has emerged as a major GBS hub, offering tailored spaces for international corporations, and PICC’s upcoming GBS hub will further complement what we have started.”
He attributed the Penang’s growth to its strong manufacturing industry and vibrant services sector.
He said the state had been attracting significant investments in manufacturing since 2008, totalling RM196.67bil, with companies such as Intel, Micron, Western Digital, Boston Scientific, B. Braun and LAM Research establishing their presence there.
Chow also recognised the contributions of more than 4,000 small and medium-sized enterprises (SME) that had played a pivotal role in the industry and the state’s sustainable growth.
He congratulated Hunza on the imminent completion of Muze at PICC, which would become the “Tallest Smart Residential Building in Northern Malaysia” with its 52- and 58-floor towers.
Source: The Star