The Penang Development Corporation (PDC) will continue to play a pivotal role in ensuring that development takes place in the state with the support of the public and private sectors as well as the community.

Chow said that apart from the existing Global Business Services (GBS), which are the GBS@Mayang, and GBS@Mahsuri, PDC is also developing its third project called GBS By the Sea.

“This is in line with the state government’s desire to drive the economy by making Penang a prime investment destination for global business services activities, research & development (R&D) hubs as well as technology hubs.

“Semiconductor company, AMD Global Services (M) Sdn Bhd will be one of the largest tenants, as the company will be renting almost 70% of the building’s (GBS By the Sea) floor space.

“This project (GBS By the Sea) is expected to be fully ready by 2024, and would be contributing a significant revenue to the PDC in the long run,” Chow said when he attended the Deepavali open house organised by PDC today.

“With the collaborative efforts from the public sector, private sector and the community, PDC will continue to play an important role in ensuring that development takes place in the state.

Additionally, Chow mentioned that this year, the PDC has introduced two new industrial areas in the south Seberang Perai district – namely, Bandar Cassia Technology Park and Batu Kawan Industrial Park 3, both adopting the Integrated Industrial Park concept.

“The Integrated Industrial Park concept aims to address the growing demand for industrial land.

“The development of a new industrial park by PDC aligns with the state government concept of Managed Industrial Park (MIP).

“This concept emphasises the need for re-branding and developing new industrial parks to enhance the investment climate in Penang,” he added.

Source: Buletin Mutiara