Penang’s RM1 Billion Designer Village

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13 September 2014

PENANG will soon have its very own premium shopping outlet, the second state in the country after Johor.

The Penang Development Corporation (PDC) has signed a purchase and development agreement for the construction of a premium retail outlet in Bandar Cassia, Batu Kawan. The agreement, signed between PDC and developer PE Land Sdn Bhd, will see the nation’s second premium outlet after the Johor Premium Outlet.

The RM1 billion Penang Designer Village, which will cover an area of 16.2ha, will be built in Bandar Cassia, Batu Kawan, in three years.

Chief Minister Lim Guan Eng was quoted saying the outlet mall is the latest component in the state government's plan to develop Batu Kawan with new attractions, making it a quality place to work, live, learn, shop and play in.

Penang Chief minister Lim Guan Eng witness the signing of purchase and development agreement between Penang Development Corporation General manager Datuk Rosli Jaafar (left) and PE Land Jason Tai (3rd left) and CBRE managing director Allan Soo (3rd right) on October 11, 2013.

Developer PE Land Sdn Bhd, which currently operates Sarawak's premier mall, Kuching's The Spring Mall, has won a tender from the Penang Development Corporation (PDC) in an open bid for the ambitious project that includes a premium retail shopping outlet and hotel.

PE Land will own, build and operate the facilities while CBRE Malaysia will act as the principal consultant. The project will have an upmarket outlet shopping mall, a 300-room international-class hotel and other facilities such as food and beverage outlets, playground and landscaped gardens,

Bandar Cassia was chosen because of its strategic location near the second bridge and the North- South Expressway, and also the fact that it is at least 40km from the nearest commercial centre in the city.

PE Land Sdn Bhd, with a paid-up capital of RM3.7 Million, is the property development arm of PE Holdings and under Pan Sarawak Group, while CB Richard Ellis is a Fortune 500 and S&P 500 company, headquartered in Los Angeles, and is also the world’s largest commercial real estate services firm in terms of its revenue in 2011.

Unitech is delighted to announce our appointment by PE Land Sdn. Bhd. as the Consulting Quantity Surveyor for this premium development project.

The works contract for site clearance and bulk earthworks has recently been awarded and construction has started which is scheduled for completion by first quarter of 2015. All subsequent work packages will be awarded in due course.