Sunway’s latest land acquisition in George Town highlights growing confidence in Penang’s prime locations, especially areas with strong lifestyle appeal and limited land supply.
While developers continue to expand across Malaysia, one move stands out for Penang buyers.
Sunway Berhad has recently acquired a prime land parcel in George Town, reinforcing confidence in Penang as a key destination for both living and investment.This acquisition is part of a larger RM179.8 million deal, but the Penang component carries particular significance due to its location and long-term potential.
Penang in Focus: Prime Location Near Gurney
Sunway Bintang Sdn Bhd has acquired a 1.05-acre freehold parcel along Jalan Pangkor for RM61.45 million. The site is located approximately 500 metres from Gurney Bay, one of Penang’s most talked-about waterfront transformations. It is also close to key lifestyle and healthcare amenities.
The site is earmarked for a tourism-focused mixed-use development with an estimated GDV of RM274 million.
Other Expansions Across Selangor
Alongside Penang, Sunway also acquired land in Puchong and USJ 1, focusing on mixed-use and transit-oriented developments.
A 6.77-acre leasehold land in Puchong with RM97.3 million, plan for a mixed-use development comprising serviced apartments and neighbourhood retail.
While in USJ 1, a 1.12-acre freehold parcel has been acquired for RM21 million, the site will be developed into a transit-oriented development (TOD) within Sunway City Kuala Lumpur.
According to Sunway Property managing director Chung Soo Kiong, these acquisitions align with the group’s long-term strategy to secure prime, well-located land while expanding into high-growth areas. All three developments will be guided by Sunway’s SDDA framework, integrating sustainability, innovation, health and wellness, and lifestyle elements.
PropertyMart Market Perspective
From PropertyMart’s perspective, this move highlights continued confidence in prime, well-connected locations. Developments in areas with strong infrastructure, transit access and lifestyle appeal are expected to see more resilient demand over time. In markets like Penang and mature Klang Valley townships, this supports both property value stability and long-term investment potential, reminding buyers that choosing the right location remains key.
Thinking About Buying in Penang?
If you’re exploring properties around Gurney, Tanjung Tokong, or nearby areas, it’s important to understand which locations offer stronger long-term value.
Feel free to reach out to PropertyMart — we’re here to help you compare your options and make a more confident decision
Source: The Edge
