The RM8 billion Penang International Commercial City (PICC) project is designed to enhance connectivity in the area, promote trade exchange and attract more foreign investments, said Chief Minister Chow Kon Yeow.
He said the PICC would also promote a safe, green and sustainable lifestyle.
"Over the last few years, we have witnessed how digital technologies brought about changes and opportunities to many industries.
“These technologies will have a significant impact on domestic-oriented sectors such as retail, accommodation, food and beverage, and administrative support as they improve operational performance, provides greater transparency and encourage more interaction among citizens," he said during the PICC’s groundbreaking ceremony in George Town today.
Also present was Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail.
Chow said as a smart and integrated development, the PICC would attract progressive companies seeking a future-enabled environment to grow their business and attract the best talents, while simultaneously providing a safe and conducive lifestyle for its residents.
Developed by Hunza Properties Bhd, the mixed development project will be constructed on a 17.4-hectare site in Bayan Baru.
The project, which will be built in three phases, comprises residential units, a commercial centre, a shopping mall, serviced apartment, a medical centre, an office tower and an international tertiary institution, and is scheduled for completion in 2026.