By BUSINESS TIMES
THE Penang Development Corporation (PDC) has sold land at its sea-fronting integrated Bayan Mutiara development to two government agencies so far and is in negotiations with another federal agency.
PDC general manager Datuk Rosli Jaafar yesterday said besides selling a 0.82ha plot to the Inland Revenue Board (IRB) to build a 16-storey corporate tower, the Marine Police Department has also purchased land totalling 4ha.
“The 4ha plot is the biggest we have sold to a government agency so far and negotiations are in progress with another federal agency at the moment,” he told reporters after the signing of a sales and purchase agreement between PDC and the IRB for the land purchase.
Rosli signed on behalf of the PDC while IRB’s chief executive officer and director-general Hasmah Abdullah represented the board.
Witnessing the signing was Penang Chief Minister and PDC chairman Tan Sri Dr Koh Tsu Koon.
The Bayan Mutiara project which is sited on 40ha of land (with another 20ha earmarked for reclamation) will boast high-end homes, affordable housing units, schools, a mosque and a government administrative complex, including the State Legislative Assembly building.
It is also sited within the Penang Multimedia Super Corridor cybercity.
The project is expected to encompass four precincts and the State administration complex will include the assembly building, offices for elected Penang representatives and the office of the Chief Minister.
Koh said the State Legislative Assembly building is expected to be the last building to be built and it should be ready in about five years from now.
PDC has already begun building residential properties and selling them.