Light Waterfront Penang enters phase two

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Phase 2 is the RM4.5bn Light City, which will cover 33 acres of reclaimed land out of the 152-acre Light Waterfront Penang project.

The Light Waterfront masterplan

The developer is IJM Perennial Development Sdn Bhd, a joint venture between IJM Corp Bhd and Perennial Real Estates Holdings Ltd. Perennial Real Estates is an “integrated real estate and healthcare company headquartered and listed in Singapore”, which also has business interests in Singapore, China, and Ghana.

The Light City, which is Phase 2, consists of the following components:

• Residential
• Mixed commercial mall
• Business district
• Signature office and showroom
• Resort hotel
• Marina
• Office tower and business convention hotel
• Convention centre
• Waterfront mall
• “Boutique lifestyle hotel”
• Performing arts and cultural centre

The 4.1m square feet in gross floor area is broken down as follows:

  • a shopping mall and thematic shops (~38%),
  • residential towers (~26%),
  • an office tower (~16%),
  • two hotels (~13%, over 750 rooms) and
  • a convention centre (~7%).

Under a swap deal during the BN administration of Penang, highway developer Jelutong Development Sdn Bhd (JDSB) was “compensated for the construction of a 4.7km three-lane dual carriageway with 368 acres of land reclamation rights”, according to the International Journal of Construction Management.

JDSB is an 80 per cent subsidiary of IJM Properties Sdn Bhd, which in turn is a 100 per cent subsidiary of IJM Land Bhd.

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20 COMMENTS

  1. “Under a swap deal during the BN administration of Penang, highway developer Jelutong Development Sdn Bhd (JDSB) was “compensated for the construction of a 4.7km three-lane dual carriageway with 368 acres of land reclamation rights” ”

    368 acres of land reclamation rights just for a 4.7km highways?? Did they open tender for this project??

    • Why not like any condo living? Mat rempit dashing across red lights and questions as how much enforcers can do when they are busy with politicians escorts and harassing. If you have money they nust caged up. No money who cares about him

  2. CNN highlights Iskandar Johor’s massive development in becoming Malaysia’s Shenzhen:

    Penang’s development pales in comparison.

    • Most Johoreans are busy working and making money in Singapore.
      Unlike certain groups of Penangites who have time to criticize development on Penang island.

      • Pathetic comment.
        Then we in CAT controlled territory might as well have duct tapes over our mouths!
        What a contradiction to Speakers’ Square, a by-product of 308 Euphoria of Bee-End Bashing!

    • Maybe we should ask The FED to announce the whole Penang state as a special region like Iskandar with dozens of tax incentives. 10+5 years free taxes for investment, cheap land price, and without the restriction of any bumiputra policies. And please ask the FED to pour back penang taxes to penang state. FYI, Iskandar region is 2200++ sq km and the whole Penang state is only 1000++ sq km. The whole Iskandar is like a FTZ, and you try to use 2200++ sq km of FTZ with lots of FED incentives to compare with Penang??

  3. Lifestyles of Penangites to be dictated by Developers or Home Fairs conducted at Spice?

    Not much $ left for your descendants if you pursue your present lifetime indulgence as defined by them!? unless work hard to earn more (of course not through money games quick get rich schemes).

    • Cosmopolitan Penang Frenzied already superseded Penang Local Plan by Niao Kong while ‘it’ rode Merc S300Lansi for the first time.
      So, who cares for ordinary Penangites, some of whom have to desperately earn more fast-money in money-games?
      Actually, PTMP is the harbinger of unaffordable Penangite lifestyle for the rich & famous thro’ unsavoury CAT’s swap deals that are beholden to greedy developers who have no qualms favouring selling high-end homes.

      • Out of tropic and shouting like gilakan. Here talk about waterfront not ptmp. If ptmp tram and monorail keep one on track and not walkabout…

      • Your gila-gilakan observation + blame game shows you are out of touch with ground zero Penang. Pls comment based on realities (in Penang)…

      • Anil is talking about waterfront and not ptmp. If you want to talk go and create your own blog and talk whatever rubbish and bark as loud. Meanwhile anil’s local plan here is waterfront and that is reality. Ask him to put up ptmp in coming topic and you talk be the all conquerer there

    • Ladies should never jog alone in Malaysia.
      Remember the Canny Ong incident?
      Be wise, take up MMA instead to protect yourself while staying fit.

  4. The price for trading the east coast of island for the present Jelutong highways, the ordinary folks get to drive on highways while the privileged ones get to enjoy sea breeze views.
    IJM must do more CSR to match SPSetia, who has given the public a nice open field, children park and a bamboo garden on rooftop of Spice!

    Penang Forumers must engage IJMers for better contribution to the public at large.

  5. The Light Waterfront’s beach very likely becomes exclusive access to the privileged owners of properties there, and ordinary Penang folks may be barred to walk there.
    If this is true, the same thing SHOULD NOT happen to the coastal walks of future development on Jerejak Island.

    • The high pricing is a premium for exclusivity?

      Mary Chin can elaborate how such rich people enclaves could promote integration among people of different income levels.

    • i agreed the coastal beach overseeing Penang 1st Bridge should not be reserved for privileged folks living in the The Light properties.

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