news

PDC to decide on Bayan Mutiara developer by 2Q2011, says MD

KUALA LUMPUR: The Penang Development Corporation (PDC) hopes to decide on the developer of its proposed high-end integrated Bayan Mutiara development by the second quarter (2Q) of next year, said PDC managing director Wan Zailena Noordin.

The request for proposal (RFP) documents have been made available to property players keen to bid for the project since Aug 16 and submissions are due at the end of this December, Wan Zailena told theedgeproperty.com via e-mail on Tuesday, Aug 17.

According to the RFP factsheet, interested parties must have a minimum paid-up capital of RM50 million or equivalent with strong financial standing, a solid track record and vast experience in integrated property developments.

“We believe that the strategic value of this area can be rapidly unlocked by the participation of, and ideas from established and experienced property players locally and in the region,” she said.

The development includes Grade-A offices, specialist medical facilities, commercial blocks, residential enclaves, retail and public spaces, and would also promote environmental sustainability.

PDC has been appointed as project manager by Chief Minister Incorporated (CMI) to coordinate, manage, monitor and oversee the project until its completion, she said.

However, she added that no completion date has been set as the project is still in its infancy.

Wan Zailena said the project, with a total of 97 acres of land, comprises a 62-acre site carved into three parcels as well an extra 35 acres via land reclamation at the southeastern foreshore of Penang island.

It is located close to the airport, industrial, commercial and heritage zones and is also on the waterfront.

“It has all the makings of a landmark – an iconic, prestigious and environmentally sustainable landmark,” she said.
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE