DESPITE the soft property market largely due to the Covid-19 pandemic, there has not been a slowdown in mega land reclaimation projects in the country. Following the reclamation works, LBS said it intends to develop an industry hub with port facilities for logistics and warehousing, manufacturing, liquefied natural gas, port-related business on the site. “Land reclamation and development generally are mega projects built over the years in phases. However, on the flip side, he points out that new reclamation projects will take some lead time and subsequently join the development land market – meaning a longer gestation period for land creation. “In Penang, the scarcity of development land justifies a continuing land reclamation policy.

Source: The Star April 24, 2021 00:08 UTC