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Perennial, IJM plan 'iconic' Penang project

The integrated mixed-use development on a 1.4-million- sq-ft freehold site on Penang's east coast is expected to house retail, entertainment, recreational, residential, business, hospitality and MICE components


PERENNIAL Real Estate Holdings is making its foray into the Malaysian property market by partnering IJM Land Bhd for an over RM3 billion (S$1.12 billion) project in Penang.

The two companies on Tuesday said they had agreed to invest in a 50-50 joint venture (JV) to