News this week:
Singapore-based, Suntec
International has signed a partnership agreement with IJM Land to jointly develop the Penang
Waterfront Convention Centre (PWCC) at an estimated cost of US$113 million.
Construction work on the waterfront venue will begin next year and it is
expected to be completed by 2017.
The PWCC is part of a US$1.6 billion project that will also
include hotels, malls, retail outlets and a marina over 102 acres of reclaimed
land space. Under the partnership agreement, Suntec will be involved in the designing,
marketing and operational management of PWCC. Facilities at the venue will
include a 10,000 m2 multi-purpose hall which will be convertible into
a 9,000-seat arena.
Lim Guan Eng, Penang’s Chief Minister commented, “It will be
in addition to the Penang International Sports Arena (Pisa) which is currently
being developed into the Subterranean Penang International Conference &
Exhibition Centre (sPICE)… It is good to have two international-standard
convention centres in Penang to cater to more international business events. I
am also confident that PWCC will serve the manufacturing industry well since
major multinational companies are located on both the island and the mainland.”
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