GEORGE TOWN — Penang Chief Minister Chow Kon Yeow assured that the state has enough industrial land to meet demand for the next 10 to 15 years, despite perceptions of land scarcity.

Speaking at the launch of the Penang Industrial Masterplan 2030, Chow said around 809.4 hectares (2,000 acres) are available or in development. He noted that average annual demand is about 40.47 hectares, meaning current supply will last for years.

He added that not all investments require new land, as some involve upgrading existing facilities. Investors, especially from China, often prefer to lease or purchase existing plants for quicker setup.

Chow also highlighted that private developers are actively building ready-to-use factories, supporting various investor needs.

Revenue from land sales is minimal, he said, with the focus being on attracting high-value investments—Penang secured RM13 billion in investments in Q1 2025.

The new industrial masterplan aims to boost Penang’s status as the “Silicon Valley of the East,” incorporating key projects like the airport expansion and a smart, green tech hub for the E&E sector.