Hunza Properties plans to develop the RM8bil Penang International Commercial City (PICC), a mixed development project comprising condominiums and serviced apartments, a shopping mall, retail outlets, hotels, a business process outsourcing (BPO) tower and a medical centre.
The PICC project will be developed over a 10-year period on a 43.35 acres in Bayan Baru.
Penang International Commercial City, an upcoming RM10bil mixed development by Hunza Properties Bhd. in Bayan Baru. It is strategically located along Jalan Tun Dr. Awang, just a stone’s throws way from sPICE.
This development will be built in three phases and planned for completion by 2026. The first phase is expected to commence work in mid-2017, expected to have a gross development value of RM5bil. It comprises a shopping mall, medical centre, a BPO tower, a hotel, and 1,792 units of serviced apartments and apartments.
The first phase is scheduled for completion in 2021. The second and third phases would see the development of more apartments, a hotel and a college. The project is located on a 43.36 acre land. It will have a gross floor area of 9.4 million sq ft.