GEORGE TOWN: Fajarbaru Builder Group Bhd
(FBG) and the Penang Development Corporation (PDC) have signed the master purchase and development agreement (master PDA) for the first phase of the Penang Medi-City project in Batu Kawan.
FBG executive chairman and executive director Tan Sri Chan Kong Choy said the first phase of Medi-City spans 20.70 hectares out of the total 95.42 hectares to be developed for the entire project.
"Of the 20.70 hectares, 6.19 hectares will be allocated for healthcare component, including a 200-bed hospital equipped with various state-of-the-art medical facilities.
"The remaining 14.48 hectares will be designated for residential and commercial development, supporting the vision of creating a dynamic development hub in Batu Kawan,” he said during the signing ceremony of the Penang Medi-City master PDA here today.
Chan said this collaboration is not just focused on business aspects but also reflects the commitment of both parties to strengthen the well-being of the local community.
"With the Medi-City master plan located near the Batu Kawan Industrial Park, we are committed to creating a complete ecosystem with innovation, entrepreneurship, and development.
"This aligns with Penang's vision to become a competitive and sustainable state,” he said.
Meanwhile, Penang Chief Minister Chow Kon Yeow said that the Medi-City project plays an important role in revitalising and strengthening the tourism and healthcare industries in Penang.
With a focus on medical tourism, he said, the project is expected to have a significant impact on the state economy and enhance Penang's status as a key healthcare hub in Southeast Asia.
"Visitors to Penang Medi-City will have a significant effect on the local economy, particularly in stimulating the business ecosystem and creating various new opportunities.
"This project will not only benefit the healthcare sector but also open up opportunities for small and medium enterprises (SMEs) to grow, as well as providing an important platform for skill and career development,” he said.
According to Chow, Penang currently dominates Malaysia’s medical tourism sector, accounting for 45 per cent of the country's medical tourism revenue. - Bernama
