Batu Kawan’s skyline continues to take shape, and with it, the confidence surrounding one of Penang’s most closely watched growth townships, Aspen Vision City (AVC).

The recent topping-off of Versa marks a significant construction milestone, signalling steady progress as the development moves closer to its targeted handover in 2027. Comprising two 37-storey towers with 490 units each, Versa is now visibly rising within AVC, strengthening its presence as part of Batu Kawan’s evolving urban landscape and standing as a clear, tangible marker that the project remains firmly on track.

For purchasers, this milestone carries meaning beyond bricks and steel. Rather than committing to a distant promise, buyers are now looking at a development with visible momentum and a delivery timeline that inspires confidence. With structural works reaching their highest point, the path to vacant possession is clearer than ever, opening the door to early planning, whether for occupation, rental income or long-term ownership.

Versa is designed for practical, contemporary living. Efficient layouts are paired with a thoughtfully curated range of lifestyle facilities, including a swimming pool, putting green, multi-purpose sports court and communal spaces built for recreation, wellness and social connection. More than just a place to live, Versa is shaped around a balanced and fulfilling lifestyle.

Beyond the development itself, Versa benefits from its address within one of Penang’s most dynamic emerging townships. Batu Kawan continues to attract homebuyers, professionals and investors, supported by excellent connectivity, established industrial parks, educational institutions and major transportation networks, placing work, lifestyle and daily convenience within effortless reach. Within this thriving setting, AVC adds its own lifestyle dimension, anchored by a 25-acre Central Park designed for leisure, wellness and community life. Retail, healthcare and dining options continue to grow around the precinct, rounding out a living environment that is as complete as it is connected.

As Batu Kawan writes its next chapter, Versa stands at an exciting point in its journey, with construction progressing, infrastructure maturing and demand for well-connected homes continuing to grow.

To learn more about Versa and its available options, visit the Aspen Vision City Sales Gallery in Batu Kawan, or connect with our sales consultant by clicking https://bit.ly/LiveChatWithAspen_Versa for further details.

The Kuala Lumpur International Dental Centre (KLIDC) mixed development project in George Town will proceed as planned, following a review of the project’s status and implementation plans by the Penang state government.

Chief Minister Chow Kon Yeow said the confirmation came after a special meeting held on July 8, following the state’s request for an update on the long-delayed development at Lot 10011, Jalan Zainal Abidin/Lorong Selamat.

According to Chow, the developer confirmed that all approvals issued by Penang Island City Council (MBPP), including the Building Plan approval and Commencement of Work (COW), remain valid. The approvals are based on the planning permission granted on March 19, 2019 for a 21-storey mixed-use development comprising a specialist hospital, hotel, mechanical parking system and supporting facilities.

Construction initially commenced after approvals were obtained in January 2020. Early works, including site clearing, hoarding installation, test piling, bored piling and earthworks, were completed by October 2020 despite the challenges posed by the COVID-19 pandemic.

However, the project was subsequently delayed due to supply chain disruptions, labour shortages, escalating construction costs and financing constraints.

The development was revived in 2024 following a change in shareholders and management, with the new team deciding to proceed without making any changes to the original approved design or layout.

Project architect Ar. Nora Che Idris said MBPP has confirmed that the existing approvals remain valid, allowing construction to continue without requiring fresh planning submissions. Weekly coordination meetings are currently being held between the developer and consultants to finalise technical and design matters.

The tender for the first building opened on May 12 and closed on June 27, attracting bids from five pre-qualified contractors. The main contractor is expected to be appointed in early August, with construction scheduled to begin by mid-August 2026.

The project is expected to take 36 months to complete, with the Certificate of Completion and Compliance (CCC) targeted for August 2029. Both the hospital and hotel are expected to commence operations in the fourth quarter of 2029.

Built on a 1.003-acre site, the development will feature Victoria Specialist Hospital, offering at least seven specialist departments and 20 specialist clinics, alongside a 264-room hotel to accommodate patients, their families and medical tourists, further strengthening Penang’s position as a regional medical tourism destination.

Image source: DoubleTree Resort by Hilton Penang FB

Penang’s hospitality sector could be set for one of its biggest investment deals this year, as the DoubleTree Resort by Hilton Penang in Batu Ferringhi has been officially put up for sale through a tender exercise with an indicative asking price of RM250 million.

The 316-room resort, situated on approximately 122,000 sq ft of freehold land, is widely regarded as one of the island’s established upscale hospitality assets. The tender exercise, handled exclusively by The Roof Realty Sdn Bhd, will close on Aug 15.

The property has undergone several transformations over the years. Originally developed by Low Yat Group in 1998 as the 350-room Ferringhi Beach Hotel, it was later acquired by Mister Phoenix (M) Sdn Bhd in 2007 and rebranded as Hydro Majestic Hotel Penang before becoming Hydro Hotel Penang.

In 2014, Pinnacle Nexus Sdn Bhd acquired the hotel for RM82 million and undertook an extensive refurbishment, repositioning it as the DoubleTree Resort by Hilton Penang — Hilton’s first resort in Malaysia. The redevelopment also saw the number of guestrooms reduced from 350 to 316 to make way for additional guest facilities, a spa, operational offices and upgraded room layouts.

While the RM250 million asking price values the hotel at roughly RM791,000 per room, market observers believe a transaction price in the range of RM190 million to RM220 million may be more realistic, citing its non-beachfront location despite its strong occupancy performance. The pricing is broadly comparable with the 2024 sale of Courtyard by Marriott Penang, which changed hands at approximately RM829,000 per room.

The sale comes at a time when Penang’s hospitality industry is entering a new growth phase. Several internationally branded hotels are either under construction or in the pipeline, including JdV by Hyatt at The Light City, Radisson Blu in Batu Ferringhi, The Westin Penang, Le Méridien Penang Airport and InterContinental Teluk Bahang, adding to an increasingly competitive market.

Nevertheless, industry players remain optimistic about the state’s long-term tourism prospects. The ongoing expansion of Penang International Airport, which will increase its annual passenger capacity from 6.5 million to 12 million by 2028, is expected to support future growth in visitor arrivals and strengthen demand for quality hospitality assets.

The potential sale of DoubleTree Resort by Hilton Penang is expected to draw interest from institutional investors seeking exposure to Penang’s tourism sector, while reflecting continued confidence in the island’s long-term hospitality market despite growing competition and evolving market dynamics.

The Juru-Sungai Dua Traffic Dispersal Project (PTJSD) continues to record positive progress, with Package 1 of the project achieving 28.75 per cent overall completion as of July 12 and remaining on schedule.

PLUS Malaysia Berhad (PLUS) said major milestones achieved include the completion of preliminary works, while utility relocation works have reached 70 per cent and geotechnical works have recorded 68 per cent progress.

“Package 1 involves the upgrading of the East-West Roundabout, improvements to the traffic light system at the roundabout to ease traffic flow, and the construction of a new elevated slip road at Jalan Tun Hussein Onn,” it said in a Facebook post.

PLUS said that upon completion in October 2027, PTJSD would help improve traffic flow, reduce congestion, enhance safety and provide a more comfortable travel experience for highway users and local residents.

The 17.3-kilometre project, spanning three main districts — South, Central and North Seberang Perai — is expected to benefit 200,000 daily users of the route.

The PTJSD, estimated to cost RM3 billion, is expected to ease congestion, with 30 per cent of traffic projected to shift to the new direct Juru-Sungai Dua route. This will reduce the current travel time from one hour to just 20 minutes during peak hours.

The project is being implemented in collaboration with the Ministry of Works and the Malaysian Highways Authority to address congestion along the Juru-Sungai Dua corridor, which serves as the main route connecting Penang with states in the northern peninsula.

Deputy Finance Minister Liew Chin Tong has proposed that Malaysia establish a one-stop centre for semiconductor and deep-tech financing, offering integrated financing solutions in the heart of the country’s technology cluster.

He said the move would help turn the technology cluster into Malaysia’s true Silicon Valley by bridging the gap between deep tech and capital.

“Our ambition is for Penang and its neighbouring Kulim to take their place alongside Silicon Valley, Taiwan’s Hsinchu, and the Netherlands’ Brainport Eindhoven as a premier global tech cluster,” he said.

Liew said the one-stop centre could support themes, and not only single names, inviting investors to back a well-governed national story built on trust in Malaysia’s regulatory framework.

“Therefore, I would like to invite industry and capital market players and regulators to share your thoughts on this,” he said in his opening address at The Edge-HSBC E&E Symposium 2026: The Value Chain Shift, yesterday.

Liew also called on the capital market to view Malaysia as a technology nation rather than just a trading nation and to take the country’s tech stocks more seriously.

“Therefore, a warm invitation to the venture and private capital community to come upstream and onwards with us, into design and intellectual property, where the greatest value is created.

“To our market institutions, help (us) deepen liquidity, extend ratings coverage, and fuel the growth of this (semiconductor) sector,” he added.

According to Liew, electrical and electronics (E&E) products account for 40 per cent of Malaysia’s national exports, the largest share of any category.

He said that, apart from China and Taiwan, around 13 per cent of global semiconductor assembly and testing is carried out in Malaysia.

Source: Bernama