Land in Penang is scarce. The land shortage creates a huge demand and the end product (be it residential or industrial) is expansive to the general public. For years, the residential units in Penang Island have been comparable to those in Kuala Lumpur, and some detached residences are comparatively higher. Penang Island has a lot of charms in terms of the natural environment – beaches and tropical jungles, often voted as one of the best places to live and retire on the planet, and having the UNESCO heritage label on George Town speaks volumes on the tourism product George Town has to offer.
Over the years, we have seen the state, through its development arm – Penang Development Corporation (PDC) – make Batu Kawan the new township in the new millennium. Sprawling some 2,680 acres, it is a new age township with the future in mind. Some world-class town planning has been envisaged here, and it looks like some of the best manufacturing companies are making the beeline to Batu Kawan. IKEA, Broadcomm, Hewlett-Packard, Honda, Pentamaster, and Western Digital. The development of land values is also encouraging, and our database shows the following (in RM):
Table 1 Transactions on 2021 (Source: IVI Valuers Database)
This article was written by Irhamy Ahmad, Founder of Irhamy Valuers International
