Fajarbaru inks deal to build Penang Medi-City


Done deal: (From left) KJTS Group Bhd managing director Lee Kok Chong, FBG CEO Datuk Seri Kuan Khian Leng, Aziz, Chan, Ahmad Fuzi, Chow, Cellax Therapy CEO Alex Wong, Solarvest Holding Bhd executive director and CEO Davis Chong and Pelaburan Hartanah Bhd managing director and CEO Mohamad Damsyal Awang Damit at the signing ceremony event in George Town.

GEORGE TOWN: Fajarbaru Builder Group Bhd (FBG) will develop the first phase of Penang Medi-City in Batu Kawan Penang, covering 51.17 acres to serve as a one-stop medical hub for the northern and Asean regions.

Group executive chairman Tan Sri Chan Kong Choy said the project, with a RM2bil gross development value (GDV), would occupy 15.3 acres of the first phase.

“In the first phase, a 200-bed hospital with the latest medical facilities will be built.

“The remaining 35.8 acres will be allocated for residential and commercial development, supporting the vision to create a dynamic development hub in Batu Kawan,” Chan said.

Chan spoke after signing a master sales and purchase agreement to build Penang Medi-City with the Penang Development Corp (PDC).

Penang Yang di-Pertua Negri Tun Ahmad Fuzi Abdul Razak, Penang Chief Minister Chow Kon Yeow, and PDC chief executive officer Datuk Aziz Bakar were also present.

The entire Penang Medi-City development covers 235.8 acres and features a medical education institution, a hybrid health technology park and commercial and residential centres for the community.

Chan said a traditional Chinese medicine component would also be considered for Penang Medi-City.

“With a combination of medical, residential and commercial components, we hope to create a community based on equality, integration and sustainable lifestyles to serve as a model for future development.

“In line with the goal of sustainable development, this project will prioritise green buildings and renewable energy sources.

“Given FBG’s excellent reputation for developing high-quality projects, we are confident that this collaboration is the perfect recipe for success,” he said.

Chan said that by aligning its resources and expertise, FBG could develop a project that will benefit the local community and establish Penang as a globally recognised regional medical hub.

“This project will have a significant economic impact, attract domestic investment, and create thousands of job opportunities.

“It will directly stimulate economic growth, support sustainable development and be a key driver for Penang’s emergence as a leading medical tourism destination,” he said.

According to Chan, the Penang Medi-City will be a one-stop for the northern and Asean regions.

Meanwhile, Chow said the Penang Medi-City was in line with the Penang2030 Vision for inclusive growth, which ensures that all can enjoy the benefits of progress.

“Penang’s position as a central medical tourism hub in South-East Asia will also be strengthened and this project is a testament to the state government’s belief in the state’s great potential.

“With a combination of modern healthcare facilities and sophisticated infrastructure, Penang Medi-City supports Penang’s strategic goal of strengthening its infrastructure and attracting significant domestic and international investment.

“Penang Medi-City is more than just an infrastructure project; it is a holistic vision that combines health, economy and sustainability to ensure a better future for all stakeholders, including the local population and the global community,” Chow said.

Aziz stated that the first phase will take five to eight years to develop.

“There will be three more phases. Some 15 years will be required to complete the entire development on the 235 acres,” Aziz said.

Separately, FBG also entered into strategic collaboration agreements with Pelaburan Hartanah Bhd (PHB), Solarvest Holdings Bhd (SHB), KJTS Group Bhd (KJTS) and Cellaax Sdn Bhd to explore collaborative opportunities to spearhead the development of the 235.8-acre project.

As part of their respective scopes, PHB will explore to establish facilities such as international school, wellness centre and other additional healthcare infrastructures while KJTS will collaborate to develop a high energy efficiency and cost-effective district cooling system.

SHB will collaborate to develop renewable energy and clean energy solutions.

Meanwhile, Cellaax will collaborate and set-up a stem cell facility to further enhance the medical hub ecosystem.

“These key strategic partnerships will capitalise on the collective expertise and resources of all parties, fostering collaboration and maximising the impact of this significant development project,” said FBG in a statement.

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