Ivory Group to start phase 3 to 5 of Penang Times Square by year-end

Penang-based Ivory Properties Group Bhd will start work on phases three to five of its Penang Times Square project, which includes a five-star hotel, by year-end.

Group chief executive officer Datuk Low Eng Hock said the three phases would cover 1.5 million sq ft, including a five-star hotel.

In a statement issued after its AGM in Penang, Low said these phases would comprise small-office-home-office (Soho) units, a shopping mall, a hotel with 300 en-suite rooms, exclusive suites and a stand-alone cineplex.

As for the mall, Ivory Properties is to be the sole owner and plans are underway to attract international retailers to fill up 500,000 sq ft of the mall area.

"There will also be a double-storey basement car park to accommodate high traffic flow during the peak season," he said.