PDC to launch new township


  • Business
  • Wednesday, 25 Aug 2004

BY David Tan in Penang

PENANG Development Corp (PDC) plans to launch some 30,000 residential, commercial, and office properties in Bandar Baru Pulau Cassia in Batu Kawan over the next 15 to 20 years. 

The properties would be developed on a 2,887-acre site, PDC chairman Tan Sri Dr Koh Tsu Koon told a media briefing yesterday. 

“About 9,000 of the properties will be low-cost houses. There will be some 4,500 medium-cost houses. By the time the township is fully developed, it will have a population of 150,000,” he said. 

He said the new township would also have bungalows, terraced houses, “country” homes, “ranch homes” and “canal homes”.  

Dr Koh said the township was designed to accommodate the development of a jetty and marina, eco-tourism facilities, fisherman's wharf, water theme park, maritime museum, electronic bazaar, gold bazaar, equestrian club, 27-hole golf course, duty-free enterprise park, Islamic civilisation centre, town centre, institutions of higher learning and an integrated transportation centre. 

“The new township is planned to be the third Cyber City in 2008 after Bayan Lepas and Bertam,” he said. 

Dr Koh said on a separate 450-acre site, which was also part of Bandar Baru Pulau Cassia, Abad Naluri Sdn Bhd was developing about 4,000 landed residential and commercial properties. 

“Abad Naluri is kicking off this year the development of 1,239 residential properties, comprising 720 low-cost and 519 medium-cost houses. These units are scheduled for completion within two years. Abad Naluri plans to develop the remaining units in phases within five to six years,” he added.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Wall St drops as strong inflation data fuels rate hike bets
SC approves Yenher's plan to list on Main Board
Banks: Repayment aid continues to be made available
Malayan Cement buys YTL's cement biz for RM5.16b
Teladan Setia posts net profit of RM7.1mil in 1Q
Taiwan stock crash shows world dangers of too much leverage
Philippine cenbank holds rates at record low to support pandemic-hit economy
Kerjaya Prospek announces boardroom changes after takeover for E&O
Private equity firm to buy UDG Healthcare in US$3.7b deal
Zafrul: Keeping economy open during MCO 3.0 helps protect vulnerable, businesses

Stories You'll Enjoy


Vouchers