Lim: Shopping mall applications must be approved by state government

GEORGE TOWN: All applications for shopping malls in Penang have to obtain permission from the state government first before proceeding according to Chief Minister Lim Guan Eng.

He said the freeze on new malls has been in place for the past few years because his administration did not want to have a surplus of malls in the state.

Lim said the local authorities - Penang Island City Council and Seberang Perai Municipal Council - have been told to refer such applications to the state for consideration.

“We do not want to have a case where we have so many shopping complexes where there is a surplus," he said in a press conference after the launch of the
The Light City project yesterday.

The project is an integrated waterfront development by IJM Perennial Development Sdn Bhd which is a joint venture (JV) between IJM Corporation Berhad (IJM) and Perennial Real Estate Holdings Limited (Perennial).

The 13.25ha project is phase two of the The Light Waterfront Penang development which runs along the Tun Dr Lim Chong Eu Expressway and has a gross development value (GDV) of RM4.5 billion.

Development consists of the Penang Waterfront Convention Centre (PWCC) with 270,000 sq ft of gross floor area (GFA), a five-storey retail mall with 1.5 million sq ft of GFA, two hotels with 745 rooms, a 28-storey office tower and two residential
towers, one with 456 units and another with 315 units.

Construction is expected to begin in the second or third quarter of 2017 and is expected to be completed by the second quarter of 2021.

IJM Perennial managing director Edward Chong said The Light City was designed to be a smart city and would come ready with fibre optics and wifi infrastructure.

“This provides endless access to new digital solutions and convenience to shoppers, delegates of MICE events, hotel guests, office tenants and residents.

“We are confident that The Light City will become one of Penang’s top destinations to live, work and play.

“The Light City will not only elevate Penang’s stature as the choice destination fo retail and MICE (meetings, incentives, conventions and exhibitions) but also create job and business opportunities as well as attract more tourists, investors and
business to Penang,” he said.