The Light Waterfront

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The Light Waterfront
Neighbourhood of George Town
The Light Waterfront in George Town, Penang Dec2024.jpg
The Light Waterfront
Location map of George Town 2023 (city centre shown).svg
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The Light Waterfront
Location within    George Town in    Penang
Coordinates: 5°21′57.8514″N100°18′56.34″E / 5.366069833°N 100.3156500°E / 5.366069833; 100.3156500
CountryFlag of Malaysia.svg  Malaysia
State Flag of Penang (Malaysia).svg  Penang
City Seal of George Town.svg George Town
District Northeast
Time zone UTC+8 (MST)
 • Summer (DST)Not observed
Postal code
11700

The Light Waterfront is a residential neighbourhood within the city of George Town in the Malaysian state of Penang. Situated within the city centre, it encompasses the foreshore north of the Penang Bridge and is bounded by the Tun Dr Lim Chong Eu Expressway to its west. Comprising a mix of residential, commercial and recreational developments, the township is being built through land reclamation by Malaysian conglomerate IJM Corporation.

Contents

History

Construction at The Light Waterfront c. 2024 The Light City in George Town, Penang.jpg
Construction at The Light Waterfront c. 2024
The Penang Waterfront Convention Centre (PWCC) under construction c. 2024 The Light development (240208).jpg
The Penang Waterfront Convention Centre (PWCC) under construction c. 2024

In 1997, Jelutong Development Sdn Bhd (JDSB), a subsidiary of IJM Corporation, was awarded the Jelutong Expressway project – now known as the Tun Dr Lim Chong Eu Expressway. [1] [2] The highway aimed to reduce traffic congestion at Jelutong by providing a major connection between the city centre and the Penang Bridge. [2]

The estimated cost of the expressway project was RM300 million. Due to insufficient funds, the Penang state government decided to compensate the developer with real estate developments that surrounded the expressway, in order to avoid the imposition of toll charges on local motorists. In exchange for the expressway, JDSB received exclusive rights to develop 368 acres (149 ha) of adjacent land – much of it to be reclaimed from the Penang Strait. [2]

The 154-acre (62 ha) Light Waterfront encompassed the southernmost land parcel A1, which lies between the Green Lane interchange of the expressway and the Penang Bridge. [2] It was unveiled in 2007 as a development masterplan that drew inspiration from the Sentosa Cove development in Singapore. [1] [2] The Light Waterfront masterplan was split into three phases. The first phase comprised residential developments within 42 acres (17 ha) of the southern part of the land reclamation. [3] The second phase – known as 'The Light City' – covered around 103 acres (42 ha), and included hotels, office towers, an RM80 million art gallery, a retail complex called 'The Waterfront Shoppes' and the Penang Waterfront Convention Centre (PWCC). [4] [5] [6] The PWCC is expected to be one of the largest convention centres in Penang, with a gross floor area of 270,000 sq ft (25,000 m2). [5] A seafront park made up the third phase of the masterplan. [3]

The first phase comprising residential components was complete as of 2021. [4] Following a nationwide quarantine during the COVID-19 pandemic, construction of The Light City only commenced in October 2020. [7] [8] The PWCC and The Waterfront Shoppes complex are expected to be completed by 2025. [8] [9] [10]

See also

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References

  1. 1 2 Mohanlall, Premilla (2013). The IJM Story – 30 Years of Distinction & Pride (PDF). IJM Corporation. ISBN   9789671200209.
  2. 1 2 3 4 5 Abdul-Aziz, Abdul-Rashid; How, Yuin Moh (2012). "To-Be-Reclaimed Land Swap for New Highway: The Jelutong Expressway Case". The International Journal of Construction Management. 12 (4). Universiti Sains Malaysia: 1–16. doi:10.1080/15623599.2012.10773197 – via ResearchGate.
  3. 1 2 "The Light Waterfront". thelightwaterfront.ijmland.com. Retrieved 2024-04-12.
  4. 1 2 Chai, Yee Hoong (9 Sep 2021). "The Light Waterfront Penang's 456-unit luxury seafront condo 40% sold". The Edge . Retrieved 12 Apr 2024.
  5. 1 2 "The Light City, Penang - an iconic landmark in the making". The Edge . 11 Feb 2021. Retrieved 12 Apr 2024.
  6. ↑ Bernard See (15 Sep 2023). "RM80mil art gallery to open in Gelugor". The Star . Retrieved 12 Apr 2024.
  7. ↑ David Tan (12 May 2020). "IJM Land's RM4.5bil The Light City to resume in August". The Star . Retrieved 12 Apr 2024.
  8. 1 2 David Tan (30 Jan 2023). "The Waterfront Shoppe to open in early 2025". The Star . Retrieved 12 Apr 2024.
  9. ↑ David Tan (22 Jan 2024). "IJM JV in talks for two foreign hotels in Light City". The Star . Retrieved 12 Apr 2024.
  10. ↑ Chelsea Lim, J (24 Jan 2024). "IJM Perennial Development tops out Penang Waterfront Convention Centre; to complete in 2Q2025". The Edge . Retrieved 12 Apr 2024.
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