GEORGE TOWN (Jan 23) — The ongoing Penang waterfront redevelopment requires careful coordination among multiple stakeholders due to the involvement of heritage assets, historical buildings, and port operations, said Transport Minister Anthony Loke Siew Fook.
At the federal level, the project involves the Railway Assets Corporation (RAC), which owns the century-old Wisma Kastam (Malayan Railway Building) built in 1909. Meanwhile, the Penang Port Commission oversees the waterfront and marina, making cooperation between federal and state authorities essential to ensure smooth and comprehensive execution of the plan.
“The state government has made strong progress in creating public spaces along the waterfront, aligning urban development with the well-being of residents,” Loke said. Federal agencies under the Ministry of Transport will continue to collaborate on expanding public areas and reviving heritage buildings, making them accessible to both locals and tourists.
“The bell of Wisma Kastam will resound again,” Loke said in a Facebook post on Thursday, after receiving a briefing on the redevelopment plan at RAC Sentral Tower in Kuala Lumpur.
The minister emphasised the government’s commitment to integrating historical and heritage preservation into national development initiatives. During his visit to Penang on Jan 12, he outlined plans to transform the waterfront into a public-friendly area, to be implemented through a private financing initiative.
The project aims to establish a pedestrian-friendly promenade exceeding one kilometre, offering scenic sea views, cafés, and tourism amenities, with the long-term goal of positioning Penang as a cruise ship tourism hub.
For investors and developers focused on commercial property in KL, office space in Bukit Jalil, or industrial property in Subang area, the Penang waterfront project highlights the importance of strategic redevelopment that balances heritage preservation with urban growth, infrastructure planning, and public accessibility—principles that are equally relevant in Malaysia’s key industrial and commercial corridors.
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