Equine associate to build RM140m flyovers at PGCC

By DAVID TAN PENANG: Abad Naluri Sdn Bhd, an associate of Equine Capital Bhd, is spending about RM140mil to build two flyovers to connect the RM25bil Penang Global City Centre (PGCC) project with the Penang Outer Ring Road (PORR).

Equine holds a 25% stake in Abad Naluri, which is developing PGCC on the 260-site where the Penang Turf Club is now located.

Equine executive chairman Datuk Patrick Lim said the flyovers would come with underpasses.

“We are working with MHA (Malaysian Highway Authority) to determine how the flyovers, which are part of our traffic infrastructure project, could complement PORR and three other chain roads in smoothening traffic flow,” he told a media briefing.

Lim said construction work on the traffic infrastructure, which forms the first phase of PGCC, would start next year.

Datuk Patrick Lim with an artist impression of the Penang Global City Centre

“The phase will take about three years to complete,” he said, adding that its cost would be disclosed later.

Lim also said Abad Naluri would commit a substantial portion of the gross development value of PGCC for the creation of a green environment.

“About 40% of the project would be green and open spaces,” he said.

Abad Naluri would build facilities in PGCC to reduce carbon monoxide, recycle heat and treat waste, he said, adding: “These facilities will be put in place as we want to make PGCC a carbon-free city.”

Lim added that PGCC would be a “city of tomorrow”.

“We will not have the biggest or tallest tower in PGCC. We want PGCC to have good values and iconic buildings that will give it a unique identity.”

Scheduled for completion in 15 years, PGCC will have two five-star hotels, commercial and residential properties, and a state-of-the-art cultural centre.

Lim said the PGCC project would be officially launched on Sept 12.

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RM18b Penang Global City Centre to be completed in 15 years

BUTTERWORTH: The RM18bil Penang Global City Centre (PGCC) project will take 15 years to complete.

The PGCC project is by Abad Naluri Sdn Bhd, an associate company of Equine Capital Bhd.

Equine holds a 25% stake in Abad Naluri, which is developing PGCC on the 260-acre site where the Penang Turf Club is presently located.

The PGCC is one of the projects highlighted in the Northern Corridor Economic Region (NCER) blueprint.

Equine executive chairman Datuk Patrick Lim said two award-winning architects, one each from New York and Paris, would design the PGCC project.

“Hani Rashid from Asymptote Architecture in New York will design the architecture, which includes two iconic towers, while Nasrine Seraji from Atelier Seraji in Paris will design the master plan,” he told reporters after the launch of the NCER Penang portion blueprint by Prime Minister Datuk Seri Abdullah Ahmad Badawi on Tuesday.

Lim said the PGCC master plan would be unveiled in September while the project would be launched in eight to 12 months.

The first phase would involve the development of a 26-acre park, and road infrastructure to smoothen the traffic flow for the project, he said.

“The park will be connected to the Botanical Garden. We will use the necessary technologies, such as thermal treatment, to develop PGCC into a carbon-free city,” he said.

Lim said the PGCC project would have two five-star hotels, commercial and residential properties, and a state-of-the-art cultural centre.

Lim said there were many options to fund the project, including joint ventures and issuing capital bonds.

“We are also applying to obtain MSC-status to attract information and communications technology companies to set up regional offices at the park,” he said.

On the Penang International Equestrian Centre in Batu Kawan, Lim said Abad Naluri would start work on the centre once construction work commenced on the second Penang bridge.

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