GEORGE TOWN – Tiara Sumberjaya Sdn Bhd signed a memorandum of agreement (MoA) with Koperasi Kampung Melayu Balik Pulau Bhd to jointly develop 71.62ha with a gross development value of RM1.7 billion over 15 years.
Penang Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman said the development in Permatang Pasir will help transform Balik Pulau into a modern satellite town.
Phase one will involve three blocks of affordable housing comprising 1,026 units with built-up areas ranging from 930 to 1,000sq ft. Subsequent phases include luxury housing, commercial buildings, a hospital and a sanatorium.
“I hope the proposed development will be holistic, with the various amenities carefully considered and planned to cater to the thousands of households that will be making their home there.
“This development will boost Penang’s economic growth, create jobs for the locals, and attract investors to Balik Pulau,” he said.
The signatories to the MoA were Koperasi Kampung Melayu Balik Pulau chairman Ilias Hassan, Tiara Sumberjaya vice-chairman Datuk Tan Kah Choun, and director Nik Sheqal Alif Nik Zainorden. Zakiyuddin witnessed the signing ceremony.
The developer will be applying for planning permission from the Penang City Council in January 2022. It targets to launch sales in April 2022. – Bernama, December 17, 2021
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