Register for our Penang Property Exhibition

Investors look to the geopolitical haven of Malaysia to park their money

Muze @Penang International Commercial City (PICC)

Prices from HK$2M for over 1,000 sq.ft. apartments

Up to 70% loans from HSBC Malaysia and Standard Chartered Bank Malaysia

5% rental yield

Asia Pacific property awards jade land properties

Asia Pacific Property Awards 2020-2021

Jade Land Properties

Best Real Estate Agency Marketing
Hong Kong

Register for our Property Exhibition

30 September to 2 October (Fri to Sun)

11am to 7pm

Shop A, UG/F, Winway Building, 50 Wellington Street, Central
(Next to Yung Kee Restaurant / Central MTR Exit D2)

Why invest in Malaysia?

Key highlights:

  • Malaysia presents compelling long-term growth opportunities with continuing infrastructure projects, reviving tourism, accelerating digital transformation, strengthening corporate governance, and as an alternative manufacturing base to China. 


  • In Q1 of 2022, the Malaysian economy registered a positive GDP growth of 5%. 


  • The region is acting as an inflation hedge as the Ukraine war pushes global commodity prices higher. Malaysia is a net oil and palm oil exporter.
  • Malaysia upholds a common law system and English is used in legal agreements.
  • Malaysia allows foreigners to fully own property and land on a freehold basis.

Ideal as an investment property

Foreigners can fully own property and land on a freehold basis

Common law legal system

A former British colony
English is used in legal agreements

Favourable low exchange rate over 10 years

MYR : HKD = 1 : 1.76

Relatively low tax policies

No inheritance tax

Limited developable land on Penang Island

Making for resilient and rising property prices

Young population

Median age of 30.26 years

Why invest in the Malaysian state of Penang?

Penang is a scenic coastal city advantageously located on the north-western part of Malaysia by the Straits of Malacca, an invaluable maritime transport route.

Known as the "Silicon Valley of the East", Penang registered the largest share of foreign direct investment (USD17 billion) in its manufacturing industry in Malaysia in 2021.

  • Demand for semiconductors (i.e. computer chips) has been growing for years as the world becomes more digital given its use in all machinery from smartphones to cars. 
  • The covid-19 pandemic’s severe disruption of global supply chains has further exacerbated the worldwide semi-conductor shortage problem.
  • Penang is an established Electrical & Electronics hub contributing 8% of global semiconductor output
  • Over 300 MNCs and 3,000 SMEs in operation


  • Penang’s trade surplus continues to expand along with improved global export demand amid the US-China trade war. 

In 2021, Intel (the world’s largest semi-conductor manufacturer) further invested USD7 billion to create a new advanced facility in Penang's Bayan Lepas Free Trade Zone.

In recent years, Penang has emerged as a popular choice by Hong Kong people looking to purchase property for investment or as a holiday or future retirement home.

59% of Penang Island's population is of Chinese ethnicity

59% of Penang Island’s population is of Chinese ethnicity

Ease of communication & cultural similarities

Proximity to Hong Kong

3.5 hour flight

High quality of life at a low cost

Penang International Commercial City (PICC)
Project Summary

Prime location: Located in Penang’s new business district of "Bayan Lepas"

Adjacent to the Bayan Lepas Free Trade Zone, Penang Golf Club, and Convention Centre

A comprehensive mixed-use development

Comprising of residences, shopping mall, F&B boulevard, central park, A-grade offices, 5-star hotel, and medical center

Connected to an LRT station

PICC’s Unique Smart City Features

Implementing the latest in smart home technologies, experience an augmented lifestyle with personalised control of your home. 


PICC incorporates an all-encompassing smart city function as well. Other innovative features optimise operations through mobile booking for healthcare facilities, smart public lighting, parking management, digital wayfinding, and predictive maintenance for building management. 


PICC aims to be a green, smart and family-focused integrated estate in line with Penang’s Vision 2030.

PICC's Masterplan


An Integrated Development

Satisfy your day-to-day needs within walking distance

  • All components are connected by covered pedestrian walkways enabling residents to benefit from the utmost of convenience

The Penang Master Transport Plan (PMTP)

PICC will have its very own LRT station on the Bayan Lepas Line. Construction is set to be completed by 2026.

Under the PMTP, the state government is investing MYR$46 billion (approximately US$11 billion) with the purpose of enhancing the infrastructure of Penang Island and the Mainland.

This includes incorporating monorail and Light Speed Rail (LRT) transit lines, tram lines, additional main highways and an undersea tunnel.

Penang Master Transport Plan
PICC's LRT - Bukit Jambul Country Park Station

Freehold apartments

Sizes from 1,087 to 1,862 sq.ft.

Smart home features

Crafted by reputable Penang-based developer Hunza Properties Group

With a history of over 40 years and over 20,000 residential & commercial properties completed to date

"Hunza Care" property management by the developer

Leasing/re-sale, maintenance, airport pick-up

PICC’s first residential phase

Show Flat Units


Type B

4 bedrooms


Type F

3 bedrooms


Type E

3 bedrooms


Penang Golf Club

Convention Centre


Muze features over 70 facilities spread across 7 levels


Including a multi-purpose court, gymnasium, children’s playground, yoga deck, e-games room, landscaped gardens, sky facilities, mini theatre, karaoke room, gourmet dining, and executive lounge.

A top international school and university network

All within a 10-minute drive from PICC

  • Prince of Wales Island International School
  • Dalat International School
  • Straits International School
  • Fairview International School
  • Wesley Methodist School Penang
  • Uplands

Hunza Properties Group

A Reputable Penang-based Developer

PICC is the brainchild of the leading property developer, Hunza Properties Group. With a history of over 40 years, Hunza is exemplified by its portfolio of over 20,000 condominiums, townships and commercial properties throughout Malaysia. The company has greatly contributed to the transformation of Penang’s skyline, boasting its flagship development, the Gurney Paragon Mall waterfront complex on Gurney Drive.

About Jade Land Properties

We are the Exclusive Agent in Hong Kong for PICC as appointed by Hunza Properties Group.

Jade Land Properties is an award-winning boutique real estate agency based in Hong Kong with a history of close to 30 years. Our company is licensed by the Estate Agents Authority (EAA). 

We identify auspicious markets abroad and handpick quality developments to assist our clients in building their international property portfolio. 


Hear what our clients have to say

In December 2021, Jade Land Properties secured UK private equity firm's bulk investment of 20 units in Muze @PICC.

Request for a personalised presentation from our experienced team

Learn more about our other exclusive international projects

Kuala Lumpur, Malaysia

YOO8 Serviced by Kempinski Branded residences

Situated amid Kuala Lumpur’s most sought-after neighbourhood, the Kuala Lumpur City Centre (KLCC) Golden Triangle area, 8 Conlay consists of two YOO8 towers devoted to branded serviced residences, a five-star Kempinski Hotel and lifestyle retail quarter.

705 - 1,328 sq.ft. / Prices from approx. HK$4M

Jade Land Properties (HK) Limited 翡翠島物業(香港)有限公司 and the respective vendor give no warranty as to the completeness or accuracy of the information contained herein. Travel times are approximate and are sourced from Google Maps. The selling price is correct at the time of printing. The information contained herein does not form part of an offer or contract. Prices and details are correct at the time of publishing. Our sales representative for overseas property work exclusively in relation to properties outside Hong Kong and, unless stated otherwise, are not licensed under the Estate Agents Ordinance to deal with Hong Kong properties. Property No.: JL0003. Date of Advertisement: 28 June, 2019. SPOB No.: C-057255-A000. Agent: Jade Land Properties (HK) Limited. EAA Licence No.: C-057255. Place of business: Unit 701, 7 Floor, Winway Building, 50 Wellington Street, Central, Hong Kong. Developer Licence No.: 10294-304-2021/0373(L) Advertisement and Sale Permit No.: 10294-304-2021/0373(P). Approving Authority: Majlis Bandaraya Pulau Pinang. Purchasing uncompleted properties situated outside Hong Kong is complicated and contains risk. You should review all relevant information and documents carefully before making a purchase decision. If in doubt, please seek independent professional advice before making a purchase decision.