Site within Bayan Baru will provide commercial and residential space
Gross development value of project estimated at around S$500mil
ECONOMIC Development Innovations Singapore Pte Ltd (EDIS), which develops integrated townships, has announced its plans to develop a 2.7-hectare site in Penang for integrated mixed-use space called BPO Prime, first announced in May.
Located within the Bayan Baru township in Penang, it will provide commercial space focusing specifically on business process outsourcing (BPO) activities, as well as residential space.
When completed, the gross development value of this project is estimated to be around S$500 million (RM1.2 billion), EDIS said in a statement.
In May 2014, the Penang Development Corporation (PDC) and Temasek inked a Memorandum of Understanding to form a joint-venture company to develop BPO Prime and the Penang International Technology Park (PITP).
The total gross development value of BPO Prime and PITP is estimated at S$4.4 billion (RM11.4 billion).
EDIS is the master development manager of the project, providing project management services to the joint-venture company. Ground-breaking is targeted to take place in 2015.
“Penang’s outsourcing sector saw more than a 20% increase in revenue last year,” said Penang Chief Minister Lim Guan Eng.
“BPO Prime is a priority project that is part of the state government’s plans to transform Penang into an international outsourcing hub. It will strengthen our infrastructure and support the rapidly growing BPO industry here.
“We hope to attract international companies to Penang, as they will benefit from the excellent facilities, easy accessibility and competitive rates,” he added.
BPO Prime will be located in an established commercial area that is part of the Multimedia Super-Corridor Penang Cyber City (Phase 1), which has been earmarked for ICT businesses.
Located near the Bayan Baru Free Industrial Zone with multinationals such as Intel, Seagate and Agilent, it is easily accessible as it is a seven-minute drive from both the second Penang bridge and the Penang international airport, EDIS said.
The location is also convenient for the business community and it is directly opposite the Subterranean Penang International Convention & Exhibition Centre1.
“BPO Prime will set a new benchmark for an integrated and sustainable development in Penang, with quality ‘work-live-learn-play’ facilities,” said EDIS chairman Philip Yeo.
“It will be a key landmark in Penang, and will stand out from other existing developments, as it is designed to be the tallest building in the south of the island, providing best-in-class office space,” he claimed.
EDIS said BPO Prime would be ideal for multinationals’ BPO and shared services operations such as human resources, finance, accounting or contact centres.
The office towers will provide quality commercial space, with energy efficient features and a floorplate size of at least 20,000 sq ft. This large floorplate, which is currently not available in Penang, would cater to the needs of BPO operations and provides businesses the flexibility to design their own office space to maximise efficiency, the company added.
The office towers will be integrated with residential towers, featuring large landscaped gardens and lifestyle amenities. The combined built-up area for both office and residential towers will be some 1.6 million sq ft.
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