The new investors at the Island Plaza hope to bring “new life” to one of the popular malls in Penang.
The mall will be renamed as “Island 88” and will offer premium outlets and shopping options.
With their tagline of “Meet, Discover, Enjoy and Eat”, the Hong Kong investors will also hope to bring their experience from the island to Penang.
Present at the ground breaking ceremony was Penang Chief Minister YAB Chow Kon Yeow along with State Exco for Tourism & Creative Economy, YB Yeoh Soon Hin, Pulau Tikus assemblyman Chris Lee and Member of Parliament for Bukit Bendera Syerleena i Abdul Rashid.
Also present was the Honorary Consul of the Russian Federation in Penang, Teoh Seng Lee, Paul Law, Chairman of Management Corporation Island Plaza, Philip Law,
Managing Director of Island Plaza Sdn Bhd, Eugene Choong, Dato Khoo Boo Lim among others.
In his address Chow welcomed the move to rebrand the mall and bring new experiences and outlets for Penangites.
“Today marks a significant milestone in the development of our beloved state of Penang, as we embark on a journey to revamp this iconic landmark and breathe new life into it.
“Back in the late 1990s, Island Plaza had been a hub of commerce, entertainment, and social interaction. It was, at the time, one of the major shopping complexes in Penang, after Komtar.
“The rebirth of Island Plaza into what shall be known as Island 88 is a testament to our commitment to preserving Penang’s heritage while embracing modernity and progress.
“The refurbished Island 88 will be a sight to behold, a modern, state-of-the-art facility that will provide our people with world-class shopping, dining, and entertainment options,” said Chow.
He also added that Penang and Hong Kong share similarities in food, culture, entertainment, and arts. Both places have diverse cuisine, a vibrant food culture, multicultural heritage and we share the same British colonial past.
Yeoh in the meantime added that the mall has the potential to become a new tourism product for tourists.
“With direct flights from China being restarted from March this year, we are experiencing exponential visitors from China,” he said.
Work on the new look Island 88 is expected to be completed by October this year.
