Penang, the second smallest state in Malaysia, consists of five districts, with George Town in the Timur Laut district standing out as a UNESCO World Heritage Site since 2008. Renowned for its culinary scene, historic architecture, and luxurious properties, Penang has been acclaimed as the Best Island in Asia and the third Best Island in the world to retire in 2021. The North East District, particularly George Town, attracts the most foreign buyers due to its vibrant property market. Future developments like the Penang Transport Master Plan and Gurney Wharf are expected to further enhance the appeal of the area.
The most expensive neighborhoods in Penang, namely Gurney Drive, Seri Tanjung, and Pulau Tikus, are located in the North East District. Gurney Drive, a preferred spot for investors, boasts high-end condominiums, shopping malls, and commercial establishments, along with its famous street food scene. The creation of Gurney Wharf aims to provide waterfront promenades, retail outlets, and lifestyle amenities to the public. Luxury condominiums along Gurney Drive, such as Gurney Paragon Residences and Marriott Residences, offer units ranging from 850 sq ft to 3,134 sq ft, with prices starting from RM1.5 million. The Marriott Residences alongside the Marriott Hotel and Executive Apartments further adding to the allure of the area.
The Seri Tanjong Pinang (STP) a reclamation project, spearheaded by Eastern & Oriental Berhad (E&O), encompasses two phases situated along the northeast coast of Tanjung Tokong, between George Town and Batu Ferringhi beaches. The first phase, STP 1, was completed while the 2nd phase, Andaman Island (formerly STP 2) is ongoing. Positioned opposite Gurney Drive, Andaman Island is envisioned as a transformative hub for the upscale neighborhood, featuring distinctive architecture inspired by Penang’s Straits-eclectic style and offering various amenities. E&O’s latest venture, Andaman Island, promises an integrated township with a blend of residential, commercial, retail, health, wellness, and educational facilities, emphasizing connectivity and sustainability for a balanced lifestyle. The Meg, the inaugural project on Andaman Island, will introduce freehold serviced apartments comprising 1,020 units spread across four acres. STP 1, an affluent residential suburb, boasts a mix of seafront villas, semi-detached homes, terraces, condominiums, and apartments, alongside amenities like the Straits Quay retail marina. Notable completed developments within STP include Seri Tanjung Pinang properties, Quayside Seafront Resort Condominiums, City of Dream, and Straits Residences, making STP a highly coveted residential destination among locals and international buyers, offering expansive views of the Andaman Sea.
Pulau Tikus- a mature residential area with expensive high-rises and older established homes and neighborhoods. An upper-class little city named after a small rocky island shaped like a mouse, it is situated just behind Gurney Drive and close to George Town. It is also home to Penang’s Governor, Chief Minister and mayor as well as the consulates for China, Indonesia, Japan and Thailand. A small minority of Eurasians, Thais and Burmese also reside here. The houses in this established upper-class neighbourhood are made up of mansions, colonial buildings, bungalows, semi-detached and terraced houses. The neighbourhood enjoys easy access to amenities like hospitals, schools and malls. Most wealthy people who want privacy prefer this area because of the tranquil living environment amidst nature. Apart from luxury and stratified houses, Pulau Tikus also offers vacant residential plots.
Batu Ferringhi and Tanjung Bungah, suburbs of George Town along the northern coast, are popular beach destinations for both locals and tourists. With a plethora of international beach hotels and condominiums, visitors have abundant choices for accommodation offering stunning sea views and refreshing hillside breezes. Batu Ferringhi features upscale residences like Ferringhi Pearl Residence, Hill Top Villas, and Moonlight Bay, alongside high-rise condos such as Bayu Ferringhi, Ferringhi Residence I & II. Tanjung Bungah offers luxurious beachfront condos like The Cove and Infinity, as well as smaller properties like Tanjung Beach and Bayshore. For those preferring a hillside retreat, options include Alila 2 and Alila Homes. International schools such as Uplands and Tenby cater to expatriates and affluent locals. Notable attractions include the Batu Ferringhi Night Market and Penang Swimming Club. Hospital Mount Miriam, specializing in cancer treatment, is situated in Tanjung Bungah.
Central Penang in the North East District encompasses Batu Lanchang, Jelutong, Air Itam, and Paya Terubong, which were originally agricultural areas but have now flourished into bustling residential suburbs. These districts offer a range of amenities such as healthcare, educational institutions, commercial centers, retail outlets, and office spaces. Housing estates like Green Lane, Island Park, and Island Glades are predominantly inhabited by local homeowners, while newer developments like Taman Bukit Gambier provide modern living spaces. Boon Siew Group (BSG) has contributed with projects like Ashley Greens, Raffles Residence 199, The Raffles, and Middleton Condominium. Lam Wah Ee Hospital, offers both traditional Chinese healthcare and modern treatments. Batu Lanchang hosts specialized medical centers like Carl Corrynton Medical Centre and Optimax Eye Specialist Hospital. The Batu Lanchang market offers diverse Penang cuisines and fresh produce. Nearby is the University Science Malaysia.
Gelugor, a suburb of George Town on Penang Island’s eastern coast, boasts the prestigious Light Water Front development. Spread over 152 acres across three phases, this development includes residential, commercial, and recreational spaces. Phase I features The Light Linear, The Light Collection, and The Light Point, while Phase II includes completed projects like Waterside Residence and the upcoming Light City, which will house the Penang Waterfront Convention Centre (PWCC) and Waterfront Shoppes. Gelugor’s Light Water Front & The Light City development offers a luxurious waterfront living experience with modern amenities and eco-friendly design. With its blend of residential, commercial, and recreational spaces, it attracts both residents and visitors seeking an exceptional lifestyle on Penang Island.
A standout feature of the development is the Collection IV Water Villas, comprising 19 modern villas built on the water. Each villa offers panoramic views of Penang’s harbor and bridge, with spacious interiors spanning approximately 7,100 sq ft across four stories. The villas are designed with sustainability in mind, incorporating green initiatives and offering amenities such as rooftop gardens and private pools.
The Residents enjoy access not only to a range of recreational facilities and a commercial hub, it’s strategic location provides easy access to the mainland via the Penang Bridge and the Penang International Airport in Bayan Lepas.
The South West District of Penang, once considered its hinterland, is now a focal point of the state government’s Penang 2030 plans, aiming to transform it into a green and smart island. Bayan Lepas, the district’s largest suburb, hosts the Free Industrial Zone (FIZ), housing over 300 multinational high-tech firms including Tesla, HP, Intel, and Dell, earning it the title of “Silicon Valley of the East”. Originally conceived to combat unemployment after losing its free port status, the FIZ spurred the growth of Bayan Baru, evolving it into a bustling neighborhood with commercial and retail developments.
Recent investments by the Penang government aim to turn Bayan Baru into a Business Processing Outsourcing (BPO) hub, with infrastructure like SUNTECH Tower and One Precinct attracting firms like Celestica, Keyence, and Swarovski. Ongoing projects like Quartermile and the Penang International Commercial City (PICC) further supplement office space, with PICC resembling Penang’s version of KLCC, featuring the Muze skyscraper.
The SPICE Arena, a major sports venue, has been renovated to host indoor sports events and MICE activities, complemented by the GBI-certified SPICE Convention & Exhibition Centre. The SPICE Aquatics Centre serves both as a venue for aquatic sports events and a community swimming facility. Additionally, shopping centers like Sunshine Square and Queensbay Mall cater to the area’s sizable catchment population, enhancing the overall lifestyle and economic vibrancy of Bayan Baru and its surroundings. Balik Pulau, a developed suburb now is home to modern buildings and international educational institution such a the Prince of Wales International.
Seberang Perai, formerly known as Province Wellesley, is a significant city in Penang, Malaysia. Its transformation into an industrial hub began with the relocation of the Port of Penang, attracting multinational corporations and fostering economic growth. Infrastructure developments like road, bridges and Penang Sentral enhanced itsconnectivity with George Town, leading to its elevation to city status in 2019. Industrial estates and the Perai
Free Industrial Zone capitalized on the region’s infrastructure, driving population growth and economic prosperity. Projects like the Penang Bridge and Second Penang Bridge facilitated integration with George Town, leading to the development of new townships like Seberang Jaya and Batu Kawan. With nine industrial clusters and the Batu Kawan Industrial Park (BKIP), Seberang Perai has become a key economic center, attracting significant foreign investment and fostering economic diversification. Two major attractions are Ikea Batu Kawan and the Designers’ Village.