The Penang Development Corporation (PDC) has officially issued a Request for Proposal (RFP) for Linear Waterfront development involving land reclamation and land development along the Penang Island southern coastline, marking one of the most significant coastal development initiatives in recent years

The proposed development corridor stretches from the Queensbay Roundabout (Bulatan Harapan) to the Jambatan Sultan Abdul Halim Muadzam Shah (Second Penang Bridge), covering a strategically located waterfront zone adjacent to Bayan Lepas and Bayan Baru. According to the tender notice dated 15 January 2026, the project is open to local, international companies or consortiums.

The RFP encompasses both land reclamation works and subsequent land development, with a departmental indicative price of RM2.56 billion. PDC emphasised that this figure is an estimate and is not binding, nor does it guarantee project award or completion based on the stated amount.

While the RFP does not spell out specific development components, the scale and location of the project suggest long-term implications for Penang’s coastal urban form, connectivity, and economic positioning. The initiative is expected to attract strong interest from developers with experience in large-scale reclamation, mixed-use waterfront planning, and infrastructure-led developments.

According to information shared during Penang Week @ World Expo Osaka 2025, the development is estimated to have a gross development value (GDV) of RM9.8 billion. It is envisioned as a mixed-use waterfront district featuring a GBS business district, waterfront commercial spaces, serviced apartments, business hotels, lifestyle malls, marine-related activities and a transportation hub. A continuous waterfront promenade, incorporating pedestrian walkways and dedicated bicycle paths, is planned as a key public-facing element of the proposal.

Interested parties may purchase the tender documents from 15 January 2026 until 22 April 2026, at a non-refundable fee of RM5,000, with submissions due by 23 April 2026 at 12.00 noon at PDC’s Procurement Division in Bayan Lepas.

Further details and technical specifications are available directly from PDC through the official tender documentation.

Taman Harmoni Indah is a landed housing development by Loyal Greenworld Sdn Bhd in Nibong Tebal. The project is planned on an 8.9-acre site near Jalan Bukit Panchor, located adjacent to Kolej Vokasional Nibong Tebal. The site sits approximately 5 km from the North–South Highway Jawi Toll Plaza and is a short drive from Universiti Sains Malaysia (USM) Engineering Campus. Daily necessities and public services are available within Nibong Tebal town centre, which is also only a few minutes away by car.

The development comprises 114 units of 2-storey terrace houses, with typical built-up areas of about 1,600 sq ft. Individual land sizes range from approximately 1,200 sq ft to 5,521 sq ft. In addition to residential units, the plan also includes a single-storey community hall. Indicative pricing for the new homes start from RM488,700 onwards.

Project Name : Taman Harmoni Indah
Location : Nibong Tebal
Property Type : Residential
Tenure: Freehold
Built-up Size: 1,600 sq.ft.
Total Units: 114
Indicative Price : RM488,700 onwards
Developer : Loyal Greenworld Sdn Bhd

The Penang state government has clarified that the proposed Penang International Financial Centre (PIFC) remains a long-term aspiration, with no decisions finalised to date, including the location of any designated PIFC zone.

In a statement responding to remarks by Bagan Member of Parliament Lim Guan Eng, the state government said it has taken note of all views expressed on the matter. It stressed that the initiative is still at an exploratory stage and forms part of a broader vision to strengthen Penang’s economic foundation by positioning the state as a competitive, high-impact regional technology and innovation hub.

The state government acknowledged that a comprehensive national framework for the initiative has yet to be finalised by the federal government. Nevertheless, it said Penang, through its think tank Penang Institute, remains committed to laying the groundwork by conducting phased and structured engagement sessions with potential industry players. These engagements are aimed at building market confidence and better understanding the actual needs of the financial sector.

At the same time, high-level discussions are ongoing with key regulators, including Bank Negara Malaysia, Securities Commission Malaysia and the Labuan Financial Services Authority. The objective is to ensure that any proposals put forward are innovative, legally compliant, aligned with the national Financial Sector Blueprint, and do not overlap with existing financial ecosystems.

The statement also highlighted Penang’s unique strength in its long-established high-technology industrial and manufacturing ecosystem. Building on this advantage, the state intends to focus on specialised financial segments such as digital assets, financial technology (fintech), and manufacturing-related financial services. These include supply chain financing, trade finance, risk management and industry-driven innovation as part of the potential PIFC direction.

The state government reiterated that all engagements and planning efforts will continue to be conducted prudently and progressively.

Source: Google Street View

Traffic diversion works will be implemented along Jalan Sultan Azlan Shah towards George Town starting today to facilitate construction works for the Penang LRT Mutiara Line.

According to Penang City Councillor Chan Soon Aun of the Majlis Bandaraya Pulau Pinang (MBPP), the diversion involves the temporary closure of the leftmost lane from the vicinity of SJKC Kwang Hwa up to the Sungai Nibong Police Station, including the stretch in front of SJKC Shih Chung Branch. All other lanes will remain open to ensure traffic continues to flow as normally as possible.

Chan explained that the lane closure is necessary to allow the safe and orderly execution of CMC1 construction works under the Penang LRT project. Road user safety and smooth construction progress, he said, remain the top priorities throughout the implementation period.

To manage traffic and minimise disruption, warning signboards, traffic cones and flagmen will be stationed along the affected areas. A site visit was conducted on 23 January involving MBPP’s Engineering Department, Mass Rapid Transit Corporation Sdn. Bhd. (MRT Corp.), SRS LRT Sdn. Bhd., as well as representatives from the management of both schools.

Addressing concerns over school operations, Chan said early preparations have been made to safeguard students’ welfare and safety. As part of these measures, parents’ vehicles and school vans will be allowed to enter school premises for drop-off and pick-up throughout the construction period.

He expressed appreciation to the schools for their cooperation and appealed to the public for patience, acknowledging that short-term inconvenience is unavoidable. However, he stressed that the temporary disruption is aimed at delivering long-term improvements in public transport and urban mobility for Penang.

The Penang waterfront redevelopment plan requires close coordination between various stakeholders as it involves assets, heritage buildings and port management, said Transport Minister Anthony Loke Siew Fook.

He said at the Ministry of Transport (MOT) level, the project involved the Railway Assets Corporation (RAC) as the owner of Wisma Kastam or the Malayan Railway Building which has been standing since 1909.

According to him, the waterfront and marina are under the supervision of the Penang Port Commission, hence cooperation between federal and state agencies is very important to ensure orderly and comprehensive implementation.

Loke said the state government had made good progress in creating public spaces along the waterfront, in line with the aspirations of urban development based on the well-being of the people.

He said agencies under the MOT would continue to cooperate to expand public spaces and revive heritage buildings in the surrounding areas so that they could be used by locals and tourists.

“The bell of Wisma Kastam will resound again,” he said in a Facebook post today after receiving the latest briefing on the redevelopment plan for the area at the RAC Sentral Tower, Kuala Lumpur.

Loke also stressed the government’s commitment to preserving historical and heritage values ​​in the national development agenda.

During his visit to Penang on Jan 12, he touched on the development plan as a public-friendly waterfront area that will be implemented through a private financing initiative (PFI).

He said the goal is to create a pedestrian walkway of more than a kilometre, where people can enjoy the sea view, in addition to cafe and tourism facilities, thus making Penang a cruise ship tourism hub.

Source: Bernama