By Chan Wei Chao (REN 39846), Team Leader, Bricksmen Team · IQI Realty Sdn. Bhd. · Updated 12 November 2026
Penang’s economy grew 7.3% in 2025, above the national rate of 5.2%, Chief Minister Chow Kon Yeow said on 10 November. He added that Penang had 330 startups as of the third quarter of 2026, with estimated revenue of RM118 million.
The numbers
| Measure | Figure |
|---|---|
| Penang GDP growth, 2025 | 7.3% (national: 5.2%) |
| Penang GDP, 2025 | RM130.3 billion, up from RM121.4 billion in 2024 |
| Manufacturing share of GDP | 47.3% |
| GDP per capita, 2025 | RM80,584 (Malaysia: RM59,167) |
| Startups, Q3 2026 | 330, with estimated revenue of RM118 million |
| Jobs created | About 1,720 |
| MSMEs helped by Digital Penang | 8,646 |
| Target | 500 startups by 2030 |
Startup counts depend on what is included. On 7 November, the CM cited 310 companies created by the startup community that Digital Penang supports, while The Star reported about 354 companies in Penang’s wider startup ecosystem.
What the CM said
Speaking at a reception on 10 November, Chow said the strength of the digital economy depends on whether the smallest businesses benefit. He said growth should reach large factories, small shops and young job seekers, not just big companies.
Penang’s 2027 state budget sets aside RM4.5 million for Digital Penang. See Penang Budget 2027: RM4.5 million for Digital Penang.
Why it matters for property
- Jobs drive housing demand: manufacturing and services drove 2025’s growth, and they employ people who need homes and rentals on the island and the mainland.
- Exports are still strong: see Penang’s exports for January to September 2026.
- Affordability is the catch: higher output per person does not mean every household can afford a new home. See the debate on new home prices versus local incomes.
Browse projects by area: Bayan Lepas, Batu Kawan, George Town, or see all Penang projects.
Frequently asked questions
How fast did Penang’s economy grow in 2025?
7.3%, compared with 5.2% for Malaysia as a whole.
How many startups does Penang have?
330 as of the third quarter of 2026, according to the CM. Other counts range from 310 to about 354, depending on what is included.
What is the startup target?
500 startups by 2030.
Planning to buy in Penang?
I can send the latest price lists for projects near Penang’s main job centres. WhatsApp or call +60 10-313 9113.
Sources
- Oriental Daily: 槟城2025年经济增长7.3% 曹观友：数码经济成果须惠及微企与青年
- BernamaBiz: Penang economy grows 7.3 per cent, records RM130.3 bln GDP in 2025
- Bernama: Penang allocates RM4.5 mln to boost AI adoption, support tech startups
- The Star: Penang drives growth for local startup scene
This article is general information based on published reports as of 12 November 2026. Project prices are indicative and depend on availability.