KUCHING: Sarawak-based PE Land Sdn Bhd, a pioneer developer in Bandar Cassia, Batu Kawan, Penang broke ground for its third project, Capstone Corporate Suites after successfully completing two significant projects in this northern region, including the 24-acres award-winning outlet mall, Design Village Penang today.
According to PE Land Sdn Bhd in its press statement, the Capstone Corporate Suites is set to be the first Grade A, Green Office Tower in Batu Kawan, offering the first-of-its-kind commercial offices and retail units to local and multinational companies seeking a unique and sustainable workspace environment in the northern region.
The groundbreaking ceremony was graced by the Chief Minister of Penang, Chow Kon Yeow, and was joined by managing director of PE Holdings Group, James Ling and also chief executive officer (CEO) of PE Holdings Sdn Bhd. Joanna Ling.
Speaking at the ceremony, Chow said that PE Land’s dedication to excellence is evident in every facet of its development.
“Capstone Corporate Suites epitomises the calibre of workspace that aligns with our aspirations for Penang – a region that welcomes innovation, encourages entrepreneurship, and fosters growth in every sector.
“It is a testament to our commitment to elevate Penang’s business landscape, providing a hub that aims to amalgamate innovation, productivity, and a collaborative spirit.
“And it will also spearhead our commitment to the environment, being designed to fulfil the Malaysia Digital and GreenRE standards,” he said.
Meanwhile, according to Joanna, a great potential in Bandar Cassia, Batu Kawan is seen since they started with their maiden project here a decade ago.
“We believe Design Village Outlet Mall has also been a big contributing factor in transforming this township into one of the most vibrant in Batu Kawan today and in contributing to Penang’s growth story.
“We are also pleased that our project, Anggun Residences achieved 95 per cent take up rate since its launch in 2021.
“Penang has been a significant home ground for our group after Sarawak, and we continue to strive for innovation and excellence in pioneering significant projects here.
“Blending state-of-the-art infrastructure with sustainability, Capstone Corporate Suites will also carry the essence of Sarawakian heritage in its design to commemorate our roots,” she said.
Capstone Corporate Suites is strategically located adjacent to Design Village, the largest outlet mall in Malaysia, and esteemed Anggun Residences, as well as a 32 acre Linear Park.
It occupies a land area of 2.4 acres of the total 40 acres land area owned by PE Land. The Gross Development Value for this project is estimated to be RM500 million, with the project expected to reach completion in 2027.
Construction of this 36-storey tower will begin soon after the groundbreaking ceremony, by PE Land’s team of local contractors and consultants from the Penang state.
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, that is designed to be flexible.
The development will include 1,740 covered parking lots with additional 1,600 carpark lots available next door in Design Village.
Capstone Corporate Suites will offer efficient and versatile workspace layouts suitable for modern work styles, incorporating features of energy-efficient and eco-friendly design elements.
The building will boast a Contemporary Atrium Design and Cascading Rooftop Terrace, providing a unique and sustainable workspace environment, making it a landmark development that will seamlessly blends sustainability, innovation, and functionality.
