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Master-planner unveils plans for mixed-use space in Temasek-Penang joint project

ECONOMIC Development Innovations Singapore Pte Ltd (EDIS) unveiled on Tuesday its plans for a mixed-use business space on a 2.7 ha site in Penang.

Known as BPO Prime, the project is located in the Bayan Baru township and will have a total gross development value of S$500 million when completed, said EDIS, the master development manager of this project.

Temasek and the Penang Development Corporation (PDC) had in May inked a memorandum of understanding to form a 49-51 joint venture company to develop BPO Prime and the Penang International Technology Park (PITP).

Philip Yeo, the chairman and founder of EDIS, said: "BPO Prime will set a new benchmark for integrated, sustainable development in Penang with quality work-live-learn-play facilities."

Mr Yeo, who wears several corporate hats, is also chairman of government agency SPRING Singapore, chairman of Ascendas India Trust and independent director of City Developments Limited and Hitachi Ltd of Japan.