DUBBED the KLCC of the north, the Penang International Commercial City (PICC), is set to change the landscape of Bayan Lepas and surrounding areas.
With a gross development value of RM6.5bil and real estate investment cost of RM2.5bil, the mammoth project located on a 17.4ha plot in southern Penang will consist of residential units, office blocks, a five-star hotel, a hospital and a shopping mall.
Hunza Group managing director Datuk Khor Siang Gin said PICC would help make Penang a choice destination for business and leisure.
“Our development is designed to be green, safe and smart with inter-connectivity to enhance the life of the people, in line with the state’s Vision 2030.
“PICC will be a state landmark and create thousands of job opportunities for the people.
“It will also bring in more foreign investment,” he said during the PICC groundbreaking ceremony on Saturday.
“This is a huge project and it will be the company’s main focus for the next 10 years.
“We purchased the land back in 2010 and had to build affordable homes for 823 nearby squatters.
“They were also given a 12-month maintenance fee waiver and we spent over RM100mil on the entire project as part of our corporate social responsibility (CSR),” he added.
Khor said PICC would be the ‘pulse of Penang’ and serve as a vibrant commercial centre for the island, adding that the first phase of the residential project ‘Muze’ was set to be launched soon.
Chief Minister Chow Kon Yeow, who took part in the ground- breaking ceremony, said PICC would be an important smart city component.
“The digital technologies to be developed within the project will have significant impact on sectors such as retail, accommodation, food and beverage, and administrative support.
“The project will complement the public infrastructure projects coming under the Penang Transport Master Plan which will be implemented in stages to improve the state’s public transport.”
Also present were Hunza Group founder Datuk Seri Khor Teng Tong and Penang Island City Council mayor Datuk Yew Tung Seang.
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