Ikano owns & operates IKEA franchises in Malaysia, Singapore & Thailand, while Aspen Vision Land is a 51% subsidiary of Aspen Group & 49% associate company of Ivory Properties Group. Thus, Ivory has gained an indirect access to Batu Kawan development.
Aspen Group seems to be a new property developer with a few upcoming condo projects in Penang.
- 30 acres for IKEA store and phase 1 shopping mall
- 45 acres for phase 2 shopping mall
- 170 acres for mixed development