Tasek Gelugor XChange (TGX) is located in Tasek Gelugor at a junction connecting parts of Penang and Kedah, within a developing suburban corridor in North Seberang Perai. The site is accessible via the North–South Expressway and is within walking distance of the Tasek Gelugor KTM station, providing connections to nearby towns and employment areas. Its surrounding context includes residential developments and industrial zones, contributing to regular movement within the area.

The project, undertaken by Island Landcap Properties Group, is a mixed-use development with an estimated gross development value of RM320.9 million, comprising a total of 644 units. This includes 308 commercial units in Phase 1 and 336 residential units planned for Phase 2. Commercial units range in size from approximately 1,182 to 9,272 sq.ft., while residential units are designed between 750 and 1,000 sq.ft., reflecting a combination of business and residential components within a single development.

The commercial portion includes retail and service-oriented spaces, with several known brands identified as tenants, such as Starbucks, 7-Eleven, Krispy Kreme, Kenny Rogers, Zus Coffee, Tealive and Anytime Fitness. A rooftop event space is also planned, intended for uses such as small-scale events and weekend activities. The development incorporates features such as parking facilities, internal road circulation and pedestrian pathways to support accessibility and day-to-day use.

Project Name: Tasek Gelugor Xchange
Location : Tasek Gelugor
Property Type : Mixed development
Total Units : 308 (Phase 1 – Commercial)
Built-up Size: 1,182 to 9,272 sq.ft. (Commercial)
Land Tenure : (to be confirmed)
Indicative Price : RM1,440,000 onwards
Developer : Island Landcap Properties Group

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

Malaysian Investment Development Authority (MIDA) inked an agreement with AIXTRON SE, a provider of deposition equipment for the semiconductor industry, to build a new greenfield manufacturing facility in Penang at SEMICON Southeast Asia 2026.

In a joint statement yesterday, AIXTRON SE chief executive officer Dr Felix Grawert said the decision to establish a site in Penang reflects the company’s long-term confidence in Malaysia as a strategic semiconductor location.

“This investment allows AIXTRON to serve our global customer base better, strengthen our operational flexibility and support the continued scaling of advanced semiconductor technologies,” Grawert said.

AIXTRON will build a plant at Bandar Cassia Technology Park, where it has obtained 8.5 acres to build an integrated facility comprising a three-storey office building, state-of-the-art cleanrooms and dedicated logistics areas, the statement said.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said AIXTRON’s decision is a powerful endorsement of Malaysia’s readiness to host complex segments in the global semiconductor value chain.

“The spillover effects will be profound, creating a significant number of high-tech jobs where our local talent will have numerous opportunities for highly skilled technical roles, while simultaneously integrating our local vendors into a global elite supply chain,” Sikh Shamsul said.

“Malaysia is moving beyond assembly-centric activities to become a global hub for the critical enablers of the artificial intelligence and electric vehicle revolutions,” he said.

The statement said designing the facility from the ground up has enabled extensive customisation and optimisation to meet the demands of manufacturing AIXTRON’s 100 millimetre (mm), 150 mm and 200 mm products in a highly efficient manner.

“The modular design will provide flexibility and enable stepwise expansion in line with future market demand,” the statement said.

The new facility aims to support rising global demand for advanced semiconductor process technologies. It will help to raise production capacity, provide greater supply-chain resilience and closer proximity to customers across Asia-Pacific, the statement said.

The facility will focus on manufacturing and supporting key systems to produce next-generation semiconductor devices for applications such as power electronics, advanced communication technologies, optoelectronics and emerging computing architectures, the statement said.

Chief Minister Chow Kon Yeow recently visited the Penang International Logistics Aeropark (PILA), a joint venture between the Penang Development Corporation (PDC) and Malaysia Airports Holdings Berhad (MAHB), highlighting its role in enhancing the state’s logistics capabilities.

Chow, who also chairs PDC, said the project is aimed at developing a new cargo terminal to support Penang’s growing industrial sector, particularly the semiconductor and electrical and electronics (E&E) industries. He noted that demand for advanced technologies, including artificial intelligence, continues to drive industrial growth, leading to increasing production and export needs.

He emphasised that the project addresses a longstanding gap in cargo handling capacity. Without adequate facilities, goods from Penang have had to be transported to other hubs such as Singapore. With PILA, cargo can be handled locally, improving efficiency and reinforcing Penang’s position as a regional manufacturing hub.

The project is being undertaken through a dedicated joint venture company, PILA Sdn Bhd, following approvals from both PDC and MAHB boards. The agreement was formalised in April 2026, with funding supported by PDC and contributions from the federal government.

Spanning 42 hectares with an estimated development value of RM1 billion, PILA has already secured leasing interest from both local and international logistics operators. The development aligns with Penang’s Vision 2030 and the State Structure Plan, which includes the expansion of Penang International Airport to accommodate future growth.

Construction is currently underway, with earthworks and soil treatment in progress. The first phase, comprising a Free Commercial Zone air cargo warehouse, is expected to be completed by 2029. Upon completion, this phase alone is projected to add capacity for 100,000 tonnes of cargo annually.

In the long term, PILA is expected to handle up to 500,000 tonnes of cargo per year by 2050, supported by more than two million square feet of warehouse space. A formal launch of the project is currently being planned, and is expected to be officiated by Prime Minister Datuk Seri Anwar Ibrahim.

The Penang State Housing Board (LPNPP) has issued a Request for Proposal (RFP) for a proposed mixed-use development in Bukit Mertajam, Seberang Perai Tengah. The site involves Parcel A, located adjacent to Lot 10001, covering several land parcels.

As usual, the RFP is open to companies registered with the Companies Commission of Malaysia (SSM) or organisations registered with the Registrar of Societies (ROS), provided they are fully Malaysian-owned. Participation also requires attendance at a mandatory briefing and site visit.

Registration for interested parties is open from 4 May 2026 until 18 May 2026, with the briefing scheduled to take place on 22 May 2026 at KOMTAR. The session will be followed by a site visit on the same day.

The RFP documents will be available for purchase from 25 May to 3 June 2026 at a fee of RM3,000 per set. Submissions must be made in both hardcopy and softcopy formats and delivered to the LPNPP office at KOMTAR. The closing date for submissions is set for 24 August 2026 at 12 noon.

Artist Impression

Penang is set to strengthen its agrotourism sector with the development of the Penang Durian Valley @ Relau (PDV), an integrated durian-based hub scheduled for completion in April 2027.

According to Chow Kon Yeow, the project is a rebranding of the existing Relau Agriculture Centre into a comprehensive eco-tourism destination. The development will feature new buildings, recreational infrastructure, landscaped green spaces, and improved parking facilities to enhance visitor experience.

Once completed, PDV will serve as a research and development (R&D) hub, educational centre, and data collection point for various durian varieties in Malaysia. The initiative is expected to position Penang as a leading state in agriculture driven by innovation and research.

Spanning a total of 61.4 acres, the project is currently being developed in phases, with the ongoing phase covering 22.3 acres. As of 30 April 2026, construction progress has reached 24%.

Chow noted that PDV has the potential to become a central collection hub for local durian varieties, with plans to cultivate up to 300 types from across the country in future phases. Currently, Penang is home to around 40 durian varieties that are popular among both locals and international visitors, many of whom travel specifically to experience the state’s renowned durians.

Adopting an “experiential tourism” concept, PDV aims to offer visitors a unique and immersive durian-themed experience while creating economic opportunities for orchard owners and related industry players.

The project will also leverage Penang’s technological expertise, often associated with its reputation as Malaysia’s “Silicon Valley”, to advance modern agricultural practices.

Chow also expressed appreciation to the Federal Government for funding support through the Northern Corridor Implementation Authority (NCIA), which has been instrumental in bringing the project to fruition.

Previously, the state government had organised a design idea competition for the project, with selected concepts incorporated into the current development plans.