Penang New Waterfront City Coming Up

The Light City is a highly-acclaimed integrated waterfront development in Penang, Malaysia. It has gone through many design revision over the years and was put on hold last year due to Covid-19.

Construction works have finally commenced on Phase 1 of this mega undertaking by IJM Perennial Development Sdn. Bhd. ("IJM Perennial") - a joint venture between IJM Corporation Berhad ("IJM") and Perennial Holdings Private Limited ("Perennial").

Situated adjacent to an Expressway that connect the city to the industrial parks at the Southern part of the island, it is easily accessible by both residents and travellers. The Penang Bridge, International Airport and Ferry Terminal are within a 10km radius, and even the proposed The Light LRT Station will be located next to the site.

The Light City spans a total gross floor area (GFA) of over 4.1mil sq ft and will be developed in two phases into a unique waterfront precinct.

Key components of the project includes the Penang Waterfront Convention Centre (PWCC) which will be the largest in the state with 270,000sq.ft. of Gross Floor Area, a 1.5mil sq.ft. retail mall, 34-storey hotel and office towers, as well as two residential apartments - Mezzo and Essence.

Phase I comprises the PWCC, 1mil sq.ft. of the retail mall, the hotel and office tower, and Mezzo. Construction commenced on Oct 1, 2020 and is expected to complete progressively from December 2024 onwards.

Officially named The Waterfront Shoppes, the retail mall will offer new-to-market shopping, dining, entertainment and lifestyle experiences set against the architectural heritage of Penang.

Features include an exclusive Beverly Hills-inspired rodeo drive with external flagship stores lining the street. The F&B zones will feature an open concept gourmet food hall, food street and large-format dining concepts.

Meanwhile, al-fresco waterfront dining outlets provide diners with the perfect setting to unwind with an extensive selection of cafes, eateries and restaurants framed by clear views of the sea and the majestic Penang Bridge.

Located adjacent to the retail mall and seamlessly connected to it and the PWCC will be a luxurious four-star hotel catering to Meetings, Incentives, Conventions and Exhibitions (MICE) delegates and leisure guests alike.

The 500-room hotel will also have smart security and access features such as mobile app check-in, keyless entry and room automation control to create a seamless guest experience.

The Light City aspires to be the first smart city in Penang. A leading converged solutions provider in Malaysia has been appointed to integrate the latest information and communications (ICT) infrastructure and turn it into a 5G city.

This affords MICE delegates, shoppers, hotel guests, office tenants and residents optimal online connectivity and high-quality voice, data and digital solutions.

Source: The Edge

经过多次设计更改和由于去年疫情暂停后，这独特项目终于开启啦！它将为马来西亚的槟城增多一个旅游和打卡景点。

The Light City

GEORGE TOWN: IJM Land Bhd will restart work on the stalled RM4.5bil The Light City project, which is located next to the Penang Bridge, in August.

IJM Perennial Development Sdn Bhd general manager Tan Hun Beng said the construction work was supposed to start in April.

IJM Perennial is a joint-venture company between IJM Corp Bhd and Singapore-based Perennial Real Estate Holdings Ltd to oversee the project.

“But because of the movement control order (MCO), we have to postpone it to August, ” Tan added.

According to Tan, the details of the contract for the project are now being finalised.

“The contract should be awarded in July to the group’s construction subsidiary, Jurutama Sdn Bhd.

“The time is right to start the project because the drop in fuel price will lower the construction cost, ” he said.

Tan added that the project, scheduled for completion within a four-year period, might take longer because of the new SOPs that needed to be adhered to in light of the Covid-19 outbreak.

Last December, IJM Perennial signed with OCBC Bank Bhd, RHB Bank Bhd, CIMB Bank Bhd and Malayan Banking Bhd for a loan facility of over RM1bil to finance the project.

Initially, IJM Land had planned to start work on The Light City in 2018, but given the property market slowdown, the group held back the implementation of the project to revise the plan.

“We made revisions so that the project could be launched in two phases, according to the pace of market demand.

“The new plan can now accommodate more food and beverage outlets and possibly, an experiential themed park in phase two, ” Tan said.

In the revised plan, the first phase will have a mall with a 680,000-sq-ft net lettable area, the Penang Waterfront Convention Centre, a four-star hotel with 500 rooms, offices and the Mezzo residential condominiums.

The second phase will have a 300,000-sq-ft mall, a five-star hotel with 250 rooms, offices and the Essence residential condominiums.

“The work on the first phase should create some 1,000 jobs for the local construction industry.

“The first phase is scheduled for completion in 2024, ” Tan said.

Tan said the sales of the Mezzo condominiums and the occupancy of the mall would determine the commencement of the second phase.

“If the response to the condominium and the mall is good, we will start the second phase as soon as possible, ” said Tan.

“The retail mall and the hotel business would be well supported by the convention centre, which is expected to bring in the crowds.

“The meeting, incentive, convention and exhibition market will drive the demand for the convention centre space.

“Our location is well-centralised around the airport, free industrial zone, George Town city and the mainland. This is also an added advantage, ” he added.

IJM is one of Malaysia’s leading conglomerates with businesses in construction, property, plantations, industry and infrastructure. It has operations in 10 countries, with the primary focus on Malaysia, India, the United Arab Emirates, China and Indonesia.

Perennial is an integrated real estate and healthcare company headquartered and listed in Singapore.

As a real estate owner, developer and manager, Perennial focuses strategically on large-scale, mixed-use developments.

It has operations in China, Singapore, Malaysia, Indonesia, Myanmar and Ghana with a combined portfolio spanning over 65 million sq ft.

Source: The Star

Penang's New Waterfront In The Making

Reclamation works of Phase 2 Queensbay Waterfront is 100% complete!

 

Queensbay Masterplan