On the Rise, But For How Long?
By Herbert Poenisch
July 2011 UTTER ECONOMICS
A survey of commercial property in Penang.FIRST TIME ARRIVALS to Penang as well as many Penangites are stunned not only by the construction “frenzy” of high rise residential buildings but also of commercial property on the island. What springs to mind fiirst are the new shopping complexes, but there are also shops, old and new, of various shapes and sizes, purpose-built office blocks, industrial property and perhaps, less visible, agricultural property. Does Penang need more development vis-à-vis commercial property? Is...
Herbert Poenisch
is a retired senior economist at the Bank for International Settlements.
