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Straits Trading Company makes bold move in Malaysia with Penang’s Straits City project

The 40-acre mixed-use development in Butterworth aims to establish a vibrant hub of retail, residential, office and leisure spaces

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Tan Ai Leng

Tan Ai Leng

Published Mon, Nov 4, 2024 · 05:00 AM
    • Eric Teng, chief executive officer at Straits Developments, expects the Straits City project to transform Butterworth from an industrial area into a vibrant, sustainable urban community.
    • Eric Teng, chief executive officer at Straits Developments, expects the Straits City project to transform Butterworth from an industrial area into a vibrant, sustainable urban community. PHOTO: BT FILE

    SINGAPORE-BASED Straits Developments, the property development arm of Singapore-listed Straits Trading Company, is taking a strategic leap into Malaysia’s real estate market with Straits City, a landmark mixed-use project in Butterworth, Penang. 

    Traditionally focused on commodities and financial services, the company is betting on the economic growth of Malaysia’s northern corridor, aiming to transform 40 acres of prime seafront into the Penang mainland’s next central business district. 

    The Straits City project is co-owned by Straits Trading and its 52-per-cent-owned subsidiary Malaysia Smelting Corporation (MSC).

    Malaysia propertyStraits TradingAseanAsean Business

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