Strong demand for first phase of Ideal Capital’s PTP project

GEORGE TOWN: Ideal Capital Bhd has signed sales and purchase agreements (SPAs) with 23 local and foreign companies to occupy about 35% of the first phase of the Penang Technology Park (PTP) in Bertam.

Based on the current market price of RM65 and RM90 per sq ft for industrial properties in North Seberang Prai, the sales will generate about RM500mil or 12% of PTP’s gross development value (GDV).