KUALA LUMPUR: Fajarbaru Builder Group Bhd will build a medical city and mixed-use development hub in south Seberang Prai to make Penang a regional and international medical hub.
Its group chief executive officer, Datuk Seri Eric Kuan Khian Leng, said the proposed development will be built out over 93 hectares of land in Bandar Cassia in the Batu Kawan region and has been given the provisional name Medi-City Bandar Cassia.
With facilities like a hospital, medical campus, medical supply hub, corporate suites, rehabilitation centre, retirement village, and wellness centre, Medi-City Bandar Cassia will function as a medical hub offering eco-tourism and international commercial services, Kuan said.
The plan, according to him, would include non-medical components such as retail, hotels, housing, a commercial hub, recreational aspects, and a comprehensive transportation system.
"This medical city will represent a milestone in the evolution of healthcare and technology, bringing together brilliant minds, state-of-the-art infrastructure, and a conducive ecosystem for research and development," he said in a statement.
"Our goal is to develop a medical city that integrates into the community, contributing to the health, wellness, and economy of the surrounding community while also attracting medical tourists from all over the world," he said.
Fajarbaru and the Penang Development Corporation (PDC) have signed a memorandum of understanding (MoU) for the Medi-City Bandar Cassia development,
According to Kuan, the MoU will be in force for six months following its signing or until Fajarbaru and PDC sign a binding contract.
Subject to PDC's agreement, Fajarbaru may ask for a three-month extension of the MoU, he added.
Fajarbaru has consented to outline the business model, development schedule, financial needs, and anticipated gross development value of the development, among other important deliverables.
In accordance with the MOU, Fajarbaru will cooperate with qualified consultants and sector specialists to carry out a market analysis and feasibility study, creating a proposal on the technical and financial elements of the complete development.
The project will emphasise ecologically beneficial practises, combining green buildings and renewable energy sources, in keeping with sustainable development aims, Kuan said.
Only two months ago, PDC awarded a RM125 million contract to Fajarbaru's subsidiary, Fajarbaru Builder Sdn Bhd, to construct three blocks of affordable apartments in south Seberang Prai.
The contract is for Phase Four of a mixed development project comprising 25 phases.
Phase Four includes five shop lots, one block of two-storey parking for cars and motorcycles, one block of 12-storey affordable apartments (149 units), one block of 14-storey affordable apartments Type A (149 units), and one block of 19-storey affordable apartments Type B (222 units).