Ideal Capital’s PTP to Boost Construction Sector

Ideal Capital Bhd’s Penang Technology Park @ Bertam (PTP) will generate about RM5.5 bil jobs for the local construction industry.

Penang Master Builders & Building Materials Dealers Association (PMBBMDA) president Datuk Goh Teng Whoo said the infrastructure work would create contracts worth about RM450mil for the construction sector.

“The contractors specialising in piling, earthworks, civil engineering, building, electrical, mechanical, telecommunication, water and wastewater, and environmental will benefit from the contracts,” Goh said.

Goh added that broadband infrastructure contractors would also receive contracts valued at about RM12mil,” he said.

The 880 acres of industrial land with 700 acres of net sellable area will cater to high-technology industries, with 30% reserved for commercial purposes.

The park will have 150 acres of industrial land for lease, 30 acres of light industry factories in the built-and-lease category and 520 acres of industrial land for sale.

“Then there will be the need to build factories, and the cost will depend on the type of factories required by investors,” he said.

Meanwhile, Ideal Capital Bhd chairman Tan Sri Ooi Kee Liang said the group would explore acquiring more land in North Seberang Prai (SPU) to develop industrial parks.

“SPU is attractive because the land is freehold, and the piling cost is way lower than in other areas.

“In SPU, the piling works per sq ft is about RM9 to RM10, while the piling cost on reclaimed land is about RM15 per sq ft,” Ooi said.

PTP will provide a steady revenue stream to the group in the medium term.

The selling price per sq ft is RM65 to RM90. There will also be 48 semi-detached units and eight bungalow units for lease.

“PTP provides an international platform that fosters cohesive and beneficial collaboration networks between industries, government, professional bodies and community,” Ooi said.

The group’s recently approved master plan complemented the Penang 2030 digital transformation vision.

Potential investors from the United States, Europe, Taiwan, and China have expressed interest in the park to set up electronics assembly and manufacturing facilities, medical devices, trading, warehouse and logistic business.

PTP is near an established neighbourhood with several thousand well-planned landed properties, offering residential options for employees and professionals.

“The Penang Golf Resort, a water theme park and hotels, three hypermarkets and a commercial centre are also close to the neighbourhood.

“These amenities contribute to the overall appeal and convenience of the location, making it an attractive destination for businesses and employees,” Ooi said.

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