Singapore-based, Suntec International has signed a partnership agreement with IJM Land to jointly develop the Penang Waterfront Convention Centre (PWCC) at an estimated cost of US$113 million. Construction work on the waterfront venue will begin next year and it is expected to be completed by 2017.
The PWCC is part of a US$1.6 billion project that will also include hotels, malls, retail outlets and a marina over 102 acres of reclaimed land space. Under the partnership agreement, Suntec will be involved in the designing, marketing and operational management of PWCC. Facilities at the venue will include a 10,000 m2 multi-purpose hall which will be convertible into a 9,000-seat arena.
Source: Business Strategies Group www.bsgasia.com