Benefiaries of Penang LRT Phase 1
2 Apr, 2024
Category: Real Estate
Tags: Penang LRT
Developers with landbank along the alignment
Segment 1 of the Penang LRT
Mutiara Line project, which connects Komtar to Silicon Island has been approved
by the cabinet on 22 March 2024.
Based on the alignment, a
few projects are expected to benefit from the railway network. These include
Gamuda’s Silicon Island (2,273 acres to be reclaimed), Mah Sing’s Southbay City
in Batu Maung (51 acres) and IJM Corp’s.The Light Waterfront project (119
acres).
Although there was no
mention on the potential line extension to Tanjung Bungah, E&O as a major
asset and landowner in Penang Island (710 acres excluding 365 acres in Gertak
Sanggul) should also benefit from the wealth effect.
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