George Town CBD, Penang

Standard Chartered Building at Beach Street, George Town. The Queen Victoria Memorial Clock Tower can be seen down the road.

The George Town CBD is the central business district within George Town, the capital city of the state of Penang in Malaysia. As the term implies, the CBD contains the highest concentration of financial and banking services within George Town, serving as the city's financial heart. In addition, within the city's historic CBD, governmental buildings were constructed, making the area the administrative centre of Penang for much of the state's history.

Gurney Drive, the newer CBD of George Town

After the inscription of the city centre as a UNESCO World Heritage Site in 2008, Gurney Drive, with a high concentration of skyscrapers, is also touted as George Town's second CBD.[1]

Historic CBD : Beach Street

Light Street (along the south of Fort Cornwallis) and Beach Street can be seen in this 1799 map of George Town.

Historically, this district coincides with the particular area that was first explored and developed by Captain Francis Light after his founding of Penang in 1786. It is centred at Beach Street and Light Street, which are among the first streets to be created on Penang Island. It is loosely bounded by Pitt Street (now Jalan Masjid Kapitan Keling) to the west, Chulia Street to the south and Weld Quay along the city's eastern shore.[2][3]

Hong Kong and Shanghai Banking Corporation (HSBC) Building at Beach Street, George Town

The CBD therefore covers the several international banks based within the vicinity of Beach Street, such as Standard Chartered Bank, HSBC, Oversea-Chinese Banking Corporation, United Overseas Bank and Bank of China, as well as administrative buildings like the City Hall and the State Assembly Building, in a manner similar to the Civic District within downtown Singapore.[4][5][6][7] The City Hall, built in 1903, houses the head office of the Penang Island City Council, while the State Assembly Building is the meeting place of the Penang State Legislative Assembly.

Due to the numerous Malaysian and international banks that operate within the CBD, George Town serves as the commercial centre for northern Malaysia.

In addition, the CBD serves as a transportation hub within George Town. The city is linked with the Malay Peninsula via the Penang Ferry Service, with its terminal at Weld Quay. Right next to the Weld Quay Ferry Terminal is the Rapid Penang bus terminal, where most bus routes within Penang Island begin and terminate.

High-rises along Gurney Drive, George Town
Gurney Plaza, one of the more famous shopping malls in Penang

New CBD : Gurney Drive

See also: Gurney Drive

The city centre has been inscribed as a UNESCO World Heritage Site since 2008. The new UNESCO rulings that are now enforced include a building restriction on construction works exceeding five storeys or 18 metres.

Hence, plans have been drawn up to turn Gurney Drive, the most famous seaside promenade in Penang which also lies outside the UNESCO site, into George Town's new CBD.[1] Skyscrapers and high-rise residences have already sprung up along Gurney Drive over the recent decades, while two of George Town's major shopping malls - Gurney Plaza and Gurney Paragon - are also located along the road.

As of 2016, the Gurney Wharf project, which aims to create a seaside recreational park along Gurney Drive, has commenced, with land reclamation ongoing off the shoreline.[8]

References

  1. 1 2 "Penang DAP rep: Put all projects in Gurney Drive on hold". 2015-05-22. Retrieved 2016-11-27.
  2. ↑ Nordin Hussin (2007). Trade and Society in the Straits of Melaka: Dutch Melaka and English Penang, 1780-1830. Singapore: National University of Singapore. ISBN 9789971693541.
  3. ↑ "Portal Rasmi Kerajaan Negeri Pulau Pinang - Penang Investment Seminar". www.penang.gov.my. Retrieved 2016-11-27.
  4. ↑ "Standard Chartered Bank, George Town, Penang / Pulau Pinang". Retrieved 2016-11-27.
  5. ↑ "Penang HSBC Building, George Town, Penang / Pulau Pinang". Retrieved 2016-11-27.
  6. ↑ "Banking in on preserving city's heritage - Community | The Star Online". www.thestar.com.my. Retrieved 2016-11-27.
  7. ↑ "UOB Branch Locator". www1.uob.com.my. Retrieved 2016-11-27.
  8. ↑ "Penang's Gurney Drive bund turns brown waters jade green". AsiaOne. Retrieved 2016-11-27.
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