Date: 10 November 2018
Media Source: Hunza Press Release

Press Release

Hunza Properties Berhad held the official ground breaking ceremony of the Penang International Commercial City (PICC) on 10 November 2018.

Held at the site of the soon to be PICC sales gallery, the ground breaking ceremony was officiated by dignitaries such as the Chief Minister of Penang, the Right Honourable Tuan Chow Kon Yeow, alongside with the Minister of Domestic Trade and Consumer Affairs who is also ADUN Pantai Jerejak - YB Datuk Seri Saifuddin Nasution Bin Ismail, Penang State Legislative Assembly Speaker YB Dato’ Law Choo Kiang, Deputy Chief Minister of Penang (2) YB Professor Dr P. Ramasamy, Penang State Executive Councillors, YB Tuan Jagdeep Singh Deo a/l Karpal Singh, Yb Chong Eng, YB Zairil Khir Johari, Mayor of Penang Island City Council, Dato’ Ar. Yew Tung Seang with the Hunza team headed by Hunza Group Founder, Dato’ Seri Khor Teng Tong and Hunza Group Managing Director, Dato’ Khor Siang Gin.

PICC - Penang International Commercial City, proudly carries the name of Penang. The name provides the status and opportunity to be the new KLCC in the Northern Region of Malaysia. This 43-acre land is strategically located in the heart of Southern Penang, accessible via the two Penang Bridges connecting Penang Island to mainland, and just minutes away from Penang International Airport. PICC is made up of a few components – Residentials, BPO Offices, a 5 Star Hotel, Hospital and a Shopping Mall. The 1st Phase of residential – Muze is targeted to be launched very soon.

PICC is a vision that heralds the quest for continuous improvement and better living. it will incorporate innovative and digital living features for lifestyles, amidst greenery to nurture a vibrant local and international community, as well as attract foreign direct investments. PICC is set to revitalize and serve as a vibrant commercial centre for the island - a new integrated landmark that represents the “Pulse of Penang”.

According to Hunza Group Managing Director, Dato’ Khor Siang Gin, the Group continues to focus on lifestyle elements such as lush greenery, comfort and safety towards creating vibrant and contemporary sanctuaries. PICC will be a most thoroughly thought through development as it promises a new landmark for Penang that is enhanced as a green, smart and family focused integrated commercial development, in line with the State’s Vision 2030.

Costing some RM6.5 billion in gross development value (GDV) and real estate investment cost of RM2.5 billion, the entire development is targeted to be completed within 10 years. A total of approximately 20, 000 job opportunities are expected to be created when this mammoth project is completed.

The company had earlier fulfilled its commitment as a responsible corporate citizen when it dedicated more than RM100 million in relocating over 823 squatters previously residing on the land. These were either in the form of monetary compensation or a brand new unit of affordable housing (Bayu Nyaman) at a matured town in Bayan Lepas. The squatter families were also provided with transportation and labour to assist in their shifting. The icing on the cake was 12 months of free maintenance for those who opted for the unit of affordable housing at Bayu Nyaman.

Hunza has always ensured that it works in line with the State’s objectives, hence its commitment towards delivering a world class integrated development in Penang. The Hunza team is always grateful for the strong support of the government, the bank and all its business associates who have always been working closely with them in all their endeavours.

Hunza Group Founder cum Executive Advisor, Dato’s Seri Khor Teng Tong and Hunza Group Managing Director, Dato’ Khor Siang Gin, alongside with all the VIPs and Hunza employees posed at the ground breaking ceremony of PICC.

The management of Hunza and the VIP guests in a ground breaking ceremony on 10th Nov 2018 for PICC which features residentials, BPO offices, hotel, hospital and shopping mall.