IJM Land Bhd is launching an iconic waterfront project in Penang, titled “The Light”, at the MIPIM Asia 2011 real estate exhibition in Hong Kong. Located near the Penang Bridge on the island’s eastern coastline, the mixed-use development lies on a 42 acre plot, which is developed for the residential component. While four parcels of the residential projects have been launched already, the developer has also commenced reclamation for the commercial projects and is now eyeing potential investors on the market.

 The commercial component of The Light is residing on about 42 hectares comprising hotels, a park, convention centre, a shopping complex and a performing arts and a cultural centre. The project is estimated to be completed in 10 years but could be developed in five to eight, depending on how many investors the developer can attract. IJM Land has projects in Penang, Klang Valley, Johor, Sabah (in Kota Kinabalu and Sandakan) and Sarawak (Kuching) and is among the Malaysian delegation at MIPIM Asia 2011 which comes to the Malaysian Pavillion soon.

The Malaysian Pavillon was an initiative by Malaysian Property Inc., a government programme which serves to act as a mediator between institutions and corporate/private investors to real estate investment opportunities in Malaysia.-http://www.property-report.com