Aspen Group, through its subsidiary Aspen Park Hills Sdn Bhd, has acquired 29.05 acres (11.62 hectares) of land in Paya Terubong from Geo Valley Sdn Bhd to be developed into mixed-residential development.

Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the seven pieces of freehold land would be developed in phases, comprising among others residential towers with communal facilities, serviced apartment towers and lifestyle retail facilities.

“The proposed development will benefit from existing amenities and infrastructure in a matured residential township, including the ongoing Jalan Bukit Kukus Paired Road Project which eventually will link the Air Itam township to the FTZ area of Bayan Lepas, Penang International Airport and two Penang bridges,” he said in a speech at Aspen Group Hari Raya Open House, graced by Penang Chief Minister Chow Kon Yeow, here today.

Nazir said the project also marked Aspen Group’s first joint-venture with Oxley Holdings Ltd, a Singapore-based property developer.

Source: Bernama