Farlim Group (Malaysia) Bhd is strengthening its presence in Penang with a new joint venture that supports the state’s growing shift toward transit-oriented development. Announced in a filing on Dec 2, 2025, the collaboration with Fortune Lander (M) Sdn Bhd will see the development of vacant freehold land in Mukim 13, Daerah Timur Laut, with an estimated gross development value (GDV) of RM160 million.

The project is planned as a mixed commercial development featuring commercial units, semi-detached shops, and bungalow-style shop offices, along with an adjacent parcel. With a gross development cost (GDC) of RM131.1 million, the undertaking builds on Farlim’s internal feasibility studies, which identified the site as strategically located within a mature commercial zone supported by strong infrastructure and connectivity. This makes it highly suitable for a transit-oriented concept—an increasingly sought-after approach as Penang’s urban landscape becomes more dynamic and mobility-focused.

Farlim said the development fits well with its long-term strategy of sustainable growth, diversification, and community-oriented planning, while also boosting its visibility and brand positioning in the state. Under the agreement, Fortune Lander, the land’s registered owner, will receive a fixed guaranteed return of RM15.94 million or 10% of the saleable area value, whichever is higher. The payout will come in a combination of cash and property units, with the entire project to be financed through Farlim’s internal funds.

As with all major projects, the development is subject to regulatory approvals including land rezoning, building plan approval and financing consent. Construction is expected to start within three months after the building plans are approved, with completion targeted within 42 months from commencement, plus an optional three-month extension if required.