(From left): Chuah, Ronald, David, Jason, James, Chow, Joanna and H’ng at the groundbreaking ceremony of Capstone Corporate Suites.
PETALING JAYA: Property developer PE Land Sdn Bhd has broken ground for Capstone Corporate Suites at Bandar Cassia, Batu Kawan, Penang and is set to develop the first Grade A, Green Office Tower in the area, offering the first-of-its-kind commercial offices and retail units to local and multinational companies in the northern region.
Penang Chief Minister Chow Kon Yeow, who attended the ground-breaking ceremony, said the development is aligned with Penang’s aspiration for growth in every sector and its commitment to the environment.
Also present at the ceremony were PE Holdings chief executive officer Joanna Ling, deputy managing director Ronald Ling and managing director James Ling, Pansar Bhd chief operating officer Datuk David Tai and managing director Jason Tai, PE Hospitality (Penang) Sdn Bhd chief operating Ernest Chuah and Penang local government, town and country planning exco Jason H’ng.
The development is located adjacent to the outlet mall Design Village, condominium Anggun Residences and a linear park which were all developed by PE Land. Capstone Corporate Suites will occupy a 2.4-acre plot of land and its gross development value is estimated to be at RM500mil. The tower will comprise 17 retail lots ranging from 2,110 sq ft to 7,623 sq ft and 395 office spaces ranging from 1,179 sq ft to 3,859 sq ft. There will be 1,740 covered parking lots with an additional 1,600 carpark lots available next door at Design Village.
Joanna said that Design Village has transformed the township of Bandar Cassia in Batu Kawan into a vibrant place and she saw great potential ahead, with Anggun Residences having achieved a 95% take-up rate.
The group also said Capstone Corporate Suites is intended to address the evolving needs of the community in Bandar Cassia, Batu Kawan, which has transformed over time to accommodate international companies, including MNCs looking to set up operations or regional offices, as well as local companies like start-ups, MSMEs and SMEs. It also aims to fill the demand gap for Grade A office space in the region for potential foreign direct investment (FDI) into Malaysia with requirements for contemporary, concise and well-layout office spaces integrated into modern amenities and infused with green initiatives.
Construction of this 36-storey tower will begin soon after the groundbreaking ceremony project and is expected to be completed in 2027.
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