Northern Growth

The below property companies have been picked by The Edge, to watch in Penang property play:

1. Sime Darby Bhd - front runner for the job to upgrade Penang International Airport;

2. Equine Bhd - holds a 25% stake in a projects to redevelop 249 acres of prime land currently occupied by the Penang Turf Club (named Penang City Park with an estimated of RM25bil GDV);

3. Oriental Holdings Bhd - owns 118 acres of vacant freehold land on Penang Island, which were acquired many years ago at a low cost of RM10.56 psf;

4. E&O Property Development Bhd - developing Sri Tanjung Pinang and owns 355.58 acres of vacant freehold land in the South West district at a cost of RM120.5mil, or RM7.78 psf;

5. Mah Sing Group Bhd - will develop Southbay Penang which is expected to generate a total of RM1.28mil;

6. Hunza Properties Bhd - a local Penang-based developer; and

7. Sunway City Bhd - owns a 38.61 acres of vacant freehold land in Penang Island and has completed several projects as well successfully.