Penang sees RM2.6m in investments: What does this mean for property?

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Penang sees RM2.6m in investments: What does this mean for property?
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The Batu Kawan area will likely see more manufacturing plants set up, with employees of those plants looking for homes nearby their workplaces.

According to an article in Freemalaysiatoday.com, “Aspen-Ikea JV invests RM2.6 billion on metropolis in mainland Penang”, Aspen Vision City Sdn Bhd, a joint venture company between Aspen Group Holdings Ltd and Ikea Southeast Asia, has invested more than RM2.6 billion in its 99.15 ha master-planned metropolis in mainland Penang.

There will also be a new hotel coming up by Marriott International Inc Hotel Development Asia Pacific. The Marriott will operate a 308-room, five-star hotel under the Aloft brand in Batu Kawan.

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