Farlim Group expands Penang presence with RM160mil transit-oriented mission

Farlim Group (Malaysia) Bhd is strengthening its presence in Penang with a brand new three way partnership that helps the state’s rising shift towards transit-oriented improvement. Introduced in a submitting on Dec 2, 2025, the collaboration with Fortune Lander (M) Sdn Bhd will see the event of vacant freehold land in Mukim 13, Daerah Timur Laut, with an estimated gross improvement worth (GDV) of RM160 million.

The mission is deliberate as a blended business improvement that includes business items, semi-detached retailers, and bungalow-style store places of work, together with an adjoining parcel. With a gross improvement value (GDC) of RM131.1 million, the endeavor builds on Farlim’s inner feasibility research, which recognized the location as strategically situated inside a mature business zone supported by sturdy infrastructure and connectivity. This makes it extremely appropriate for a transit-oriented idea—an more and more sought-after method as Penang’s city panorama turns into extra dynamic and mobility-focused.

Farlim stated the event suits effectively with its long-term technique of sustainable progress, diversification, and community-oriented planning, whereas additionally boosting its visibility and model positioning within the state. Below the settlement, Fortune Lander, the land’s registered proprietor, will obtain a hard and fast assured return of RM15.94 million or 10% of the saleable space worth, whichever is greater. The payout will are available in a mixture of money and property items, with the complete mission to be financed by Farlim’s inner funds.

As with all main tasks, the event is topic to regulatory approvals together with land rezoning, constructing plan approval and financing consent. Development is anticipated to begin inside three months after the constructing plans are permitted, with completion focused inside 42 months from graduation, plus an non-obligatory three-month extension if required.