Hunza sees income from Gurney Paragon in 2013

GEORGE TOWN: Property development in Penang is moving at a feverish pace with buyers crazy over owning prestigious addresses like Gurney Drive and all the way up from Tanjung Tokong to Batu Ferringhi.

Against such a backdrop, it is crucial for property players to introduce value-added development and feature attractive points to stand out among competitors, just like Gurney Paragon, an iconic development along Gurney Drive.

Sited on a freehold land measuring 4.08ha, Gurney Paragon is an integrated development comprising two blocks of high-end condominiums, an office block, St Joseph's Novitiate (St Jo's), three-storey podium retail lots and a shopping mall of approximately one million sq ft of retail space.

The attraction is that the development surrounding St Jo's, a heritage masterpiece, will be used to host events such as meetings, weddings and conventions.

Developed by Hunza Properties Bhd, Gurney Paragon is the most eagerly awaited shopping center by Penangites and foreigners.

Hunza executive chairman Datuk Khor Teng Tong said the development of Gurney Paragon was in line with the group's plan to transform itself from a property developer to one which also included being a real estate landlord. - Bernama