Penang: Pulau Jerejak is poised to transform into a financial hub aimed at supporting the semiconductor and high-tech sector in Bayan Lepas. Deputy Investment, Trade and Industry Minister Sim Tze Tzin highlighted the potential of this development based on a briefing from developer Ideal Property, which envisions an integrated project covering approximately 32.37 hectares on the island.
According to BERNAMA News Agency, the planned project will feature a financial centre, resort, serviced apartments, and hotel, establishing an ecosystem designed to attract investors to set up operations on the island. This initiative seeks to address a gap in Penang's high-tech industry, which lacks sufficient financial institutions and investments necessary for further advancement.
Sim, who also serves as the Bayan Baru MP, expressed government support for transforming Pulau Jerejak into a financial zone. This move aims to allure venture capitalists, banks, and private equity firms to establish offices in close proximity to the Bayan Lepas industrial area. Sim noted that 85 per cent of Pulau Jerejak has been designated as a forest reserve, with development permitted only on land owned by the developer and subject to height restrictions due to its location within flight paths.
In addition, Sim announced plans for a new bridge connecting Pulau Jerejak to the Penang mainland, which is anticipated to facilitate the island's development. The bridge, estimated at RM500 million, will span one kilometre and feature four lanes, along with pedestrian and bicycle paths. Preliminary road-widening works are slated to commence next month, with completion targeted for March 2029.
The bridge will connect from a roundabout near Queensbay and Jambatan Harapan to the Tun Dr Lim Chong Eu Expressway. Sim emphasized the vision for an iconic bridge design and revealed that the developer has enlisted two international designers and a local architect to realize this landmark.
Planning permission for the redevelopment of Jerejak Rainforest Resort and mixed-use development received approval from the Penang Island City Council in March 2018, and the state government has sanctioned the bridge linking Pulau Jerejak to the mainland.