News about Penang

GEORGE TOWN (July 21): The Penang government has appointed PricewaterhouseCoopers Advisory Services Sdn Bhd (PwC) as consultant to prepare a white paper, strategic blueprint and action plan for the proposed Penang International Financial Centre (PIFC), which will serve as the foundation for establishing the international financial hub.

PETALING JAYA (July 20): Marriott International Inc and Iconic Group have signed an agreement to introduce the Courtyard by Marriott brand to Penang mainland through the rebranding of the existing Iconic Hotel Penang into Courtyard by Marriott Penang Icon City.

PETALING JAYA (July 18): ACE Market-listed Ambest Group Bhd said its wholly owned subsidiary Ambest Technology Sdn Bhd (AT) has entered into a sale and purchase agreement to acquire a freehold two-storey shophouse in Bayan Lepas, Penang for RM1.

PETALING JAYA (July 13): A proposed 26-storey condominium development has emerged on a roughly 0.

PETALING JAYA (July 13): Penang expects to gazette its first-ever Seberang Perai Local Plan 2030 (Rancangan Tempatan Seberang Perai 2030) by October this year, a move that is expected to formalise planning parameters and provide a statutory reference framework for future land-use and development decisions on the mainland.

PETALING JAYA (July 13): UDA Holdings Bhd is advancing the redevelopment of wakaf (Islamic endowment) land with the launch of Amaanee Residences @ Wakaf Seetee Aisah in Seberang Jaya, Penang, a 410‑unit apartment project developed in collaboration with the Penang State Islamic Religious Council (MAINPP).

Note: This article has been amended for accuracy.

PETALING JAYA (July 8): Hektar Real Estate Investment Trust (Hektar REIT) has completed the acquisition and lease of a leasehold industrial property in Penang following fulfilment of the conditions precedent and satisfaction of the purchase consideration, according to a Bursa Malaysia filing.

PETALING JAYA (July 6): Ascott has launched HARRIS Hotel & Conventions Sunshine Penang, introducing the HARRIS brand to Malaysia and adding hotel and conventions capacity to Malaysia’s hospitality market.

PETALING JAYA (July 2): Oriental Holdings Bhd (OHB) said the second sale and purchase agreement (SPA 2) under its proposed RM411 million acquisition package involving hotel‑related assets in Penang and Langkawi has become unconditional after the remaining conditions precedent were fulfilled or waived.