Penang will boost tourism growth and revenue with economic catalysts like IKEA, the world’s biggest furniture retailer, and not approve casinos which are objects of danger rather than desire. Even though the economic benefits from casinos are multiplied manifold, the social and spiritual cost is too heavy and high for our multi-cultural and diverse society to bear.
The Penang state government is pleased that IKEA has decided to site their first store outside Kuala Lumpur in Batu Kawan, Penang. This decision is a strong boost of confidence for Penang’s aspirations towards an international and intelligenct city.
This joint-venture between its parent company, Ikano and a local company, will see a green one-stop center for advanced manufacturing, services and logistics hub; an education center of excellence, a premier residential location as well as a commercial and retail center. I had met IKEA’s technical and design team today comprisng of IKEA’s Mr Mikael Winqvist, Project Investment Manager, Mr Tim Denoon, Regional Design Manager and Mr Edward Ng, Assistant Expansion Manager(picture)
The sale of 245 acres of land by Penang Development Corporation(PDC) in Batu Kawan for RM 484 million, where the shopping mall will hopefully be completed in five years comprise:-
- 30 acres for the development of Ikano’s flagship IKEA Store and phase 1 of the Shopping Mall
- 45 acres for the development of phase 2 of the Shopping Mall; and
- 170 acres for mixed development purposes (Remaining Parcels)
PDC has received a RM 5 million non-refundable deposit. The Penang state government welcomes this investment by Ikano which will not only serve as an economic growth engine but also put Batu Kawan on the international map as a world-class site for industry, retail and commercial centers, education and health as well as lifestyle.