Sunway to launch RM5bil GDV projects in Penang

Sunway Property managing director, property development division for Malaysia and Singapore, Sarena Cheah

GEORGE TOWN: Sunway Bhd is set to launch various projects with a total gross development value (GDV) of RM5bil in Penang over the next 10 years.

Sunway Bhd Property Division for Malaysia and Singapore managing director Sarena Cheah said of the amount, about RM2bil would be for long-term investment projects, including malls and hotels.

She said one of the company’s major development plans on Penang island would be the Sunway Valley City, a RM2bil integrated project in Paya Terubong.

The mixed-development project, spanning over a 9.7-ha site, is divided into four phases, comprising shop offices, serviced apartments, a shopping mall, an educational institute (Sunway College), an office tower and a medical centre, she told reporters at the the launch of Sunway's new headquarters for the northern region in Anson Road here.

“Sunway Valley City is expected to change the landscape of Air Itam and Paya Terubong.

“We hope to provide something exciting for the population there, where they do not need to travel out for leisure and entertainment," she said.— Bernama