Titijaya Land, PDC to develop Medi-Tech City in Batu Kawan, Penang with RM9.9 bln GDV

KUALA LUMPUR, Jan 18  -- Titijaya Land Bhd has signed a memorandum of understanding (MOU) with the Penang Development Corporation (PDC)  for the development of Medi-Tech City, which will occupy a 93.07-hectare piece of land in Batu Kawan, Penang, with a gross development value of RM9.9 billion.

Slated for completion in 10 years, Medi-Tech City is earmarked to be an integrated, sustainable and hi-technology medical city and business hub in Penang, which is already occupied by more than 300 multinational companies.

“It will be a development with compliance to the Responsible Business Alliance (RBA) and Environmental, Social and Corporate Governance (ESG),” the company said in a statement.

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Upon its completion, Medi-Tech City would serve as a medical hub, providing eco-tourism and global business services with facilities including a hospital, medical campus, medical supply hub, corporate suites, and a rehabilitation centre.

Titijaya also has an 8.09-hectare built-to-suit development in Penang situated at Bayan Lepas with close proximity to Penang International Airport and Sultan Abdul Halim Muadzam Shah Bridge, providing value-added logistical support to the project, which aims to capture demand from various sectors in the vicinity of Bayan Lepas.

-- BERNAMA