Segment 1 of the Penang LRT Mutiara Line project, which connects Komtar to Silicon Island has been approved by the cabinet on 22 March 2024.

Based on the alignment, a few projects are expected to benefit from the railway network. These include Gamuda’s Silicon Island (2,273 acres to be reclaimed), Mah Sing’s Southbay City in Batu Maung (51 acres) and IJM Corp’s.The Light Waterfront project (119 acres).

Although there was no mention on the potential line extension to Tanjung Bungah, E&O as a major asset and landowner in Penang Island (710 acres excluding 365 acres in Gertak Sanggul) should also benefit from the wealth effect.