Georgetown, Penang, August 16, 2024, Friday: Through new strategic relationships, IJM Perennial Development Sdn Bhd (IJM Perennial), a joint venture between IJM Corporation Berhad and Perennial Holdings Private Limited, is pursuing its historic mixed-use development, The Light City, in Penang. These collaborations will incorporate state-of-the-art hospitality options and telecommunications infrastructure into the waterfront development.
In the presence of Penang’s Chief Minister, YAB Chow Kon Yeow, IJM Perennial signed three important contracts with four prominent businessmen. These included a hotel management deal, a hotel franchising agreement, and a Memorandum of Understanding (MoU) for 5G infrastructure.
In his speech, the Chief Minister emphasized the importance of this collaboration for Penang’s future:
“Today’s signing marks a pivotal milestone in our journey towards becoming a digitally empowered, smart, and liveable city of the future. This event perfectly aligns with our Penang2030 vision, which requires collective efforts from federal and state agencies, private enterprises, and the community. The Light City is not just another integrated development; it is a cornerstone of our Penang2030 and Penang Digital Transformation Masterplan’s aspirations to strengthen connectivity and digital infrastructure. This project will also bolster our MICE sector and create substantial employment opportunities, with the potential to generate 1,200 new jobs.”
To make The Light City a future-ready smart city, IJM Perennial collaborated with Maxis Broadband Sdn Bhd and GlobalComm Telecommunications Sdn Bhd to install 5G-ready infrastructure. Completing these agreements is a major step toward transforming The Light City into a cutting-edge, contemporary, energetic urban centre.
The Chief Minister also praised the collaborations between JdV by Hyatt and Galaxy Minyoun, two of the world’s most prestigious hotel brands, which will increase Penang’s appeal as a top travel destination.
Completion of the project is slated to begin in Q1 2025, setting the stage for The Light City to become a premier destination for both domestic and international visitors.
—
END
