KUALA LUMPUR, Dec 26 — Tambun Indah Land Bhd will construct a RM8 million International school in its flagship township, Pearl City in Penang.
The property developer will lease the school, GEMS international, to its operator, GEMS Maju Sdn Bhd, for 30 years.
In a statement, Tambun Indah said GEMS International school was slated to open in mid-2015 and GEMS Maju intended to invest a further RM32 million to equip the campus with necessary amenities and facilities.
Managing Director Teh Kiak Seng said the international school development was timely given the area’s ongoing robust economic activity driven by numerous foreign direct investments.
“The establishment of an international campus within Pearl City – indeed, the first international school in mainland Penang – will certainly raise the profile of the township, as well as, enhance the vibrancy of our business park,” he was quoted as saying in the statement.
Construction of the campus, targeted to commence early next year and estimated to complete in mid-2015, will be built on a 3.24-hectare piece of land in Pearl City Business Park, with a built-up area of approximately 18,580 sq metres.
The campus would be able to accommodate a student population of 1,400 under the first phase, with plans to increase its capacity to 3,000 students in subsequent phases.