PENANG DEVELOPMENT CORPORATION UNVEILS RM5 BILLION STRATEGIC PLAN

PDC CEO, Datuk Aziz Bakar, said they have 15 projects under its 2024–2028 strategic plan that will cost an estimated RM5 billion.
- Start increasing their land bank now to be developed into industrial lands (est. deplete by 2030).
• To attract more investors, so that when they come, the infrastructure is ready for them.

1. Acquisition of land
(a) RM3 billion = To acquire the 3,000 acres of land in North, Central, and South Seberang Perai.

2. Land reclamation to increase their land bank.
(a) PDC is creating a complete ecosystem to support the industrial sector, which includes a distribution hub for logistics and workers’ quarters.
(b) They have launched 4 workers’ quarters projects in the Bandar Cassia area – 1 developed by PDC, 3 more by private sector (can house >30,000 workers in the area)
- One, in Penang Science Park North, is expected to be completed this August.
- Another two, in Penang Science Park South and Batu Kawan Industrial Park 3 (BKIP3), are still pending planning approvals.
- The fourth, located in Bandar Cassia, has been awarded to a developer to design and build before handing over to PDC.

3. Development of Industrial Lands
- The industrial lands PDC developed will be based on the “infra ready concept”, especially in BKIP3 and Batu Kawan Technology Park (BCTP).
(a) An 80-acre land near the Penang International Airport will be developed into a logistics and distribution park.
(b) A logistic hub will be developed on a 24.6-acre land in the Batu Kawan Industrial Park in Bandar Cassia.

4. Other Projects
- The PDC strategic plan is focused on land innovation, asset innovation, business sustainability and smart professional (LABS).
(a) Developing a linear waterfront for mixed development on 200 acres of land, will be reclaimed in Bayan Lepas at a cost of RM760 million.
(b) Develop a Medi-City project in Bandar Cassia, together with interested investors, to create an integrated medical hub at a cost of RM12 billion.

5. Potential Beneficiaries
- $PARAMON / 1724 (PARAMOUNT CORPORATION BERHAD) , developer who owns 83 acres in Penang.
- $RAPID / 7765 (RAPID SYNERGY BERHAD) , Seberang Perai Selatan, 21.35 acres
- $SCIENTX / 4731 (SCIENTEX BERHAD) , Seberang Perai Utara, 343.20 acres
- $SPSETIA / 8664 (S P SETIA BERHAD) , Seberang Perai Utara, 1691 acres
- $TAMBUN / 5191 (TAMBUN INDAH LAND BERHAD) , Seberang Perai Selatan and Tengah, 420 acres


Sources:
https://cutt.ly/Xw4uEVcg
https://cutt.ly/gw4uEBtY