Fajarbaru Expects RM2 Bln GDV For Penang Medi-city Phase One

GEORGE TOWN, Jan 20 (Bernama) -- Fajarbaru Builder Group Bhd (FBG) anticipates the upcoming Penang Medi-City phase one project in Batu Kawan, Penang, to have a gross development value (GDV) of RM2 billion.

Its group chief executive officer and executive director, Datuk Seri Eric Kuan said 30 per cent of the development in phase one will consist of medical components.

“This includes a 200-bedded specialist hospital, a wellness centre and a healthcare complex.

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“In phase one, the development will also include the construction of FBG Global Park which serves as a commercial area, international school and residential area, namely service apartments and villas,” he said after a press conference, here today.

Meanwhile, Penang Development Corporation (PDC) chief executive officer Datuk Aziz Bakar said the corporation foresees phase one of the Medi-City to be fully developed in about five to eight years, while 15 years for the completion of the whole project.

“This is a long-term project. It is going to be a catalyst project for Batu Kawan as we anticipate around 1,000- bedded hospitals for the total development project area of 95.42 hectares,” he said.

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Aziz noted that this project will also be a one-stop centre for medical facilities in Penang and the Northern Region.

“We are thinking about serving other ASEAN countries and that is our vision for this project,” he said.

Earlier, FBG and PDC signed the master purchase and development agreement for the first phase of the Penang Medi-City project.

The signing ceremony was witnessed by Penang Yang Dipertua Negeri Tun Ahmad Fuzi Abdul Razak and the state’s Chief Minister Chow Kon Yeow.

-- BERNAMA