IJM Perennial Development a joint-venture company between IJM Corporation Berhad and Perennial Holdings Private Limited, the master developer of The Light City, Penang has inked mutiple mou's to furhther enhance the mixed development project.
Three agreements were signed with four renowned industry players, namely a tripartite for 5G-ready infrastructure, a hotel franchise agreement and a hotel management agreement with Maxis Broadband Sdn Bhd and GlobalComm Telecommunications Sdn Bhd. A hotel franchise agreement with Hyatt International – Asia Pacific to introduce the JdV by Hyatt
brand to The Light City and another hotel management agreement with Galaxy Minyoun Hotel the reputable Chinese hotel brand which is marking its first venture into Southeast Asia and its second international presence after Uzbekistan in 2022.
Mr. Lee Chun Fai, Group CEO and Managing Director of IJM Corporation Berhad said "The Light City exemplifies IJM's vision of creating a transformative, future-ready smart city in Penang. By integrating advanced 5G infrastructure and bringing in
premier international hospitality brands like JdV by Hyatt and Galaxy Minyoun hotels, along with retail and convention facilities, we will be fostering a vibrant and 5G-connected community. This development not only enriches Penang's cultural heritage but also positions it as a leading destination for business and leisure."
