Tambun Indah expands landbank

Tambun Indah Land Bhd, a leading property developer on mainland Penang, continues to expand its landbank following the acquisition of 7.71 ha in Kota Permai for RM39.42mil.

Managing director Teh Kiak Seng said the acquisition increased Tambun Indah’s available undeveloped landbank to 191 ha, thus sustaining the group for about six to seven years.

He said the land acquisition was timely as the property market on the mainland held tremendous potentials for growth in line with the increasing infrastructure initiatives and investments by key manufacturing as well as services sector.

“Alongside our ongoing landbank expansion strategy, we are focusing our efforts on building up the recreational aspects in our flagship Pearl City township.

“To this end, the international school is on track to be operational in September this year and the Pearl City Mall by the first half of next year,” he said after Tambun Indah’s annual general meeting here today.

Tambun Indah is also slated to launch a high-rise service apartments, ‘Avenue Garden’, in the second half of this year, to be located next to GEMS International School at Pearl City, Penang’s first international school campus on the mainland. – Bernama

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