Penang is a tropical island off the west coast of peninsula Malaysia. The island offers a vibrant, multicultural lifestyle, world-renowned cuisine, and a low cost of living that appeals to foreign retirees. From 2014 to 2019, the State’s E&E exports grew at a compounded annual rate (CAGR) of 12% to reach RM210 billion (US$51 billion). It has emerged as a hub for professional, scientific and controlling instruments (including medical technology), with exports of these products growing at a 5-year CAGR of 15% to reach RM23 billion (US$6 billion) in 2019. We also call Penang the "Pearl of the Orient," since it is a top retirement destination in Malaysia. The island offers a vibrant, multicultural lifestyle, world-renowned cuisine, and a low cost of living that appeals to foreign retirees. The upcoming MM2H 2.0 program provides attractive options for those looking to establish a second home in Penang. With its diverse cultural heritage, stunning natural scenery, and well-developed infrastructure, the state is consistently ranked among the best places to retire in the region. Retirees can enjoy a high quality of life while benefiting from the island's affordable cost of living and range of healthcare and leisure amenities.

The Penang LRT project is expected to begin construction in the fourth quarter of 2024 and be completed by 2030. Meanwhile, JV with LTC Group, Belleview Group is developing a visionary integrated masterplan in Butterworth, Penang. It will feature four residential towers, the largest shopping mall in the northern region of Malaysia with a net lettable area of 1.2 million square feet, which will be the biggest mall in Malaysia North. One of the anchor tenants is SOGO. Importantly, the GEM development project is strategically located along the future Penang LRT route, spanning from George Town to Butterworth, and also close to the Raja Uda to Batu Maung Monorail line. The GEM development aims to redefine modern urban living with its focus on cutting-edge design, sustainability, convenience, and community integration. This large-scale mixed-use project is poised to be a significant addition to the Penang landscape, complementing the upcoming Penang LRT infrastructure and offering residents and visitors a comprehensive live-work-play environment.