IKEA Chooses Penang To Open Its Second Malaysian Outlet

After years of waiting, Penangites can finally shop for IKEA products without having to travel all the way down to Klang Valley!

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IKEA Is Opening Its First Outlet In Penang!

Popular Swedish home furnishing store Ikea store will soon open its first outlet in Penang at a planned shopping mall in Batu Kawan, Lim Guan Eng announced today.

Ikea 2014 bedroom, from the 2014 Ikea catalogue.

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The Penang Chief Minister said Ikano Pte Ltd, the franchisee for Ikea in Malaysia, Singapore and Thailand, formed a joint venture with local company, Aspen Vision Land Sdn Bhd, to develop the integrated shopping mall.

After Running Rumours Over The Years, Penangites Can Now Shop At IKEA Without Having To Travel To Klang Valley

"Ikea's entry into Batu Kawan is a vote of confidence for Penang and a boost to making Seberang Perai as the future choice for investment, tourism and habitat for sustainable living," he said at a press conference today.

Ikea 2014 classic living from the 2014 Ikea catalogue.

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Ikea 2014 small space design.

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Ikea kitchen design.

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Ikea 2014 catalogue.

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"Aspen-Ikana Has Bought 245 Acres Of Land In Batu Kawan At RM483 Million To Develop An Integrated Shopping Mall And Mixed Development Of Offices And Residences"

Aspen group group chief executive, M.Murly (centre), showing Penang Chief Minister Lim Guan Eng the location of the Ikea in Batu Kawan, Penang, January 10, 2014. Picture By K.E. Ooi

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The 245 acres will include 30 acres for the first Ikea Store in the northern region of Malaysia and the first phase of the shopping mall. Another 45 acres is to be set aside for phase two of the shopping mall and 170 acres for mixed development purposes.

The Total Land Cost For The Project Is RM483,951,600, A RM5 Million Non-Refundable Deposit Has Also Been Paid To The PDC

A photo of the Ikea outlet in Klang Valley.

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Lim said the total land cost for the project is RM483,951,600 and payment is to be made within 60 months from the date of agreement. A RM5 million non-refundable deposit has also being paid to the PDC, he added.

"The Entire Commercial And Mixed Development Are Expected To Be Completed Within 10 Years From The Date Of Agreement."

The state government’s and PDC’s plans for Batu Kawan will receive an additional boost with this development, which will feature an intergrated shopping mall - anchored by an Ikea store by Ikano Pte Ltd - and mixed development offices and residences to be developed jointly by Aspen-Ikano (a joint venture company to be formed by Aspen Vision Land Sdn Bhd and Ikano Pte Ltd).

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