Tambun Indah To Develop RM50 Million International School In Penang

PENANG (Malaysia), April 21 (Bernama) -- Property developer Tambun Indah Land Bhd on Saturday inked a memorandum of understanding with SIS Charter Sdn Bhd to develop mainland Penang’s first international school at Pearl City integrated township in Seberang Perai for RM50 million (US$16.31 million). The Penang campus, with minimum 18,580 sq. m. (200,000 sq. ft.) of built-up area, will be built on a 2.6 ha (hectare) piece of land in Pearl City, the company said in a statement. Of the estimated development cost of RM50 million (US$16.31 million), Tambun Indah will invest RM35 million (US$11.42 million) to design and construct the campus, including land cost, and SIS will invest RM15 million (US$4.89 million) to equip it with the necessary facilities, such as equipment, furniture, fittings and interior decorations. Upon the campus’ target completion in 2014, SIS will lease the school campus from Tambun Indah for a period of 20 years. It would be able to handle a student population of 800 to 1,2000. To date, Tambun Indah has launched more than 4,700 units of mainly residential properties in Penang, worth in excess of RM1.41 billion (US$460 million). -- BERNAMA