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Bayan Lepas is an up-and-coming town located in the Southwest District of Penang Island. It is the largest town within the district comprising 62% of the Southwest District’s population. It is also where the Bayan Lepas Free Trade Zone, the Convention Centre, Penang International Airport and Penang Golf Club are located.
Penang is an established E&E hub, contributing 8% of all global semiconductor output. Created in 1972, it is Malaysia’s first free-trade zone. Currently, it houses the manufacturing facilities and assembly lines of over 300 multinational corporations, including Intel, Broadcom, HP, B. Braun and Sony, and over 3,000 small medium-sized enterprises here at this bustling hub.
The creation of the free trade zone ushered in a new age of industrialisation and rapid development for Bayan Lepas. It propelled the manufacturing sector to become the major contributors to Penang’s economy, generating 44.6% of Penang’s total Gross Domestic Product (GDP).
Due to the presence of multinational firms, Bayan Lepas has received great amounts of Foreign Direct Investment (FDI). In 2021, Penang received the highest level of foreign direct investment of approx. HKD138 billion in the country.
Before then, agriculture and rice farming in particular was the major economic activity of the district.
As shown in the map below:
The Penang state government has invested RM46 billion to develop an integrated public transport network on both Penang Island and Wellesley. The transport plan involves constructing Light Rail Transit (LRT), monorail and tram networks, Bus Rail Transits (BRT), and an undersea tunnel. This will complement concurrent plans to improve existing road and highway networks. The goal is to improve travelling time for commuters in Penang.
The Bayan Lepas LRT line is the backbone of the Penang Master Transport Plan. It will be 30km in length with 27 stations running between the KOMTAR Tower in George Town passing by PICC (Penang International Commercial City), the Bayan Lepas Free Industrial Zone, the Penang International Airpot all the way to the future reclaimed islands in the south.
The PICC (Penang International Commercial City) developed by Hunza Properties Group is positioned to be the new epicentre for commerce. It is a multi-billion Ringgit large-scale project built on 43-acres of freehold land at the new heart of Penang in Bayan Lepas. Upon completion, it will be Penang’s first smart city comprising of a lifestyle shopping mall, A-grade offices, five-star hotel, serviced apartments, medical centre, central park, F&B boulevard and residences – all components are integrated via covered pedestrian walkways and are directly connected to a future LRT station.
PICC is situated in a strategic location:
PICC Tower will be a gleaming commercial building that crowns the development as a commercial hub. It will feature cutting-edge technology, comprehensive security and business facilities to become the new landmark for corporate headquarters and visionary companies in Penang. It offers a well-equipped hub designed for Business Process Outsourcing (BPO). It is set to be the tallest commercial building in Penang.
Units are available for sale at the first residential phase, “Muze” at PICC.
A 43-acre comprehensive mixed-use development with smart city features in the heart of Penang, the “Silicon Valley of the East”.
A mixed-use development located in the heart of Kuala Lumpur City Centre, Malaysia’s most sought-after neighbourhood.
© 2024 Jade Land Properties (HK) Limited. All Rights Reserved. | EAA License No.: C-057255 | Privacy Policy | Disclaimer