johardy09/04/2026 - 14:22 by Muhammad Iman editor@dagangnews.com BATU KAWAN 9 April - Bandar Cassia is emerging as a new focal point for business activity on Penang’s mainland, underpinned by rising demand for quality office space and expanding industrial investments.
The outlook was shared by industry players at a specially curated business forum, where discussions centred on the township’s evolving role within the northern region’s economic landscape.
The speakers included Ho Chin Soon, Fellow of the Royal Institution of Surveyors Malaysia and Chairman of Ho Chin Soon Research and Hong Onn Enlightens; Jacqueline Lim, Editor & Branding Head of EdgeProp; and Datuk Yong Soo Heong, Editor-in-Chief of Weekly Echo and former CEO of BERNAMA.
They noted that the continued expansion of the Batu Kawan Industrial Parks (BKIP 1, 2 & 3) and Bandar Cassia Technology Park (BCTP) has attracted multinational and high-value industries, driving the need for modern, well-connected office spaces to support business operations.
Reflecting this demand, Capstone Corporate Suites, a 36-storey office tower developed by PE Hospitality (Penang) Sdn Bhd, a member of PE Land, is set to become Penang Mainland’s first Grade A and GBS-ready office tower.
In her speech at the event, Joanna Ling, CEO of PE Holdings Group—the parent company of PE Land—announced an important milestone for Capstone, saying it will officially house the regional office of the PE Land Group, occupying 35,000 sq. ft. within the development.
“This reflects our long-term commitment to Batu Kawan and our confidence in its future as a business destination.
“Capstone Corporate Suites is poised to be the crown jewel of Bandar Cassia—the first Grade A office tower on Penang Mainland—setting a new benchmark for workspace quality in the region.”
She added that Capstone has also been recognised as the first GBS-ready office building on Penang Mainland, positioning it to attract high-value service industries to the area.
Built to GreenRE Gold standards, Capstone Corporate Suites reflects PE Land’s commitment to ESG-driven development. The company is also in discussions with International Workplace Group to bring Regus to Capstone, potentially establishing its eighth workspace in Penang and its first in Bandar Cassia.
Meanwhile, in her analysis of property transactions in Batu Kawan, Jacqueline Lim said the past decade points to a market that has been steadily moving up the value chain.
“Data from 2016 to 2025 shows a gradual decline in sub-RM300,000 transactions, alongside a growing concentration in mid-tier price bands, indicating rising buyer purchasing power and a shift in product positioning.
“Historically, landed property demand was concentrated below RM400,000. That remains an important base, but the market is no longer defined solely by that range. The emergence of more transactions above RM500,000 shows buyers are willing to pay for better products, better locations, larger homes, and more self-sustaining neighbourhoods.”
Concurring with this growth, Ho Chin Soon said development trends from 1995 to 2025 indicate that Penang’s “locational centre of gravity” is shifting southeast towards Bandar Cassia.
In his presentation, “Batu Kawan: From Backwater to Beacon,” Datuk Yong Soo Heong cited Penang Chief Minister Chow Kon Yeow’s statement that “the future of Penang is in Prai, and the future of Prai is in Batu Kawan,” underscoring the area’s growth in tandem with global supply chains in electronics, automotive, and medical technology.
Over the past 12 years, foreign direct investment has transformed the landscape into one of Malaysia’s premier industrial clusters, with Bandar Cassia as its crown jewel.
Capstone Corporate Suites will offer 395 office units with flexible layouts, catering to a range of occupiers from multinational corporations to small and medium enterprises, as well as startups. Complementing the office component are retail and lifestyle spaces designed to support a more integrated work environment.
Strategically located within Bandar Cassia’s central business district, the development is connected via the Second Penang Bridge and the North-South Expressway, with access to key transport hubs including Penang Sentral and Penang International Airport, facilitating both domestic and international business connectivity.
The building will also incorporate sustainability features aligned with green building standards, alongside digital infrastructure to support business continuity and technology-driven operations.
Capstone Corporate Suites has a gross development value of approximately RM500 million and is targeted for completion in the second quarter of 2028, with units priced from RM828,000.
As Bandar Cassia continues to evolve into a live-work-play environment, demand for quality office space is expected to grow in tandem with its expanding economic base. - DagangNews.com
English