The residence is positioned to serve medical tourists, wellness travellers and corporate guests, particularly from regional markets such as Malaysia, Indonesia, Thailand and China.
The township integrates residential, recreational and commercial elements, with infrastructure designed to incorporate solar energy, responsible waste management and the conservation of water and biodiversity.
Its chairman Datuk Seri Ahmad Shabery Cheek said the move aims to ensure the funds are distributed efficiently and achieve the government’s objectives.
The move marks a concrete step towards realising the 600-hectare industrial park, following an initial joint venture agreement signed in October last year, said Tanco in a bourse filing on Friday.
The properties span approximately 339,386 square feet and comprise three blocks of four-storey office buildings, three blocks of single-storey detached factory buildings, and an ancillary building.
In a bourse filing, HCK Capital said its indirect wholly-owned subsidiary Reside Capital Sdn Bhd has entered into two conditional sale and purchase agreements (SPA) with Bandar Setia Alam for the land acquisition.
Developed by Ideal Property Group, Queens Residences brings seafront luxury to life in Queensbay, Penang.
The project comprises a total of 1,260 units across three towers, ranging from 19 to 20 floors.
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Developed by UDA Land, Crescent Dew 1B (officially listed under Residensi Bertam Vila) is a freehold landed project located in Kepala Batas, Penang.
Developed by Kobay SB Sdn Bhd, Laguna Bay Residences is a freehold high-rise residential project nestled in Teluk Kumbar, Penang.
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