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vie New Straits Times, 21 November 2023: George Town, inscribed as a UNESCO World Heritage Site in 2008, has undergone a significant transformation, particularly post-Covid-19. The city, once struggling in the 1990s, has seen a resurgence in real estate, tourism, and business development.
“Some 12 years after being listed as a UNESCO World Heritage Site, George Town is home to more enterprises and visitors. There are an abundance of hotels, boutique guesthouses, and posh restaurants. Rental rates have increased by high double digits along with the city’s real estate prices, which have risen dramatically. We think George Town will improve and that this trend will probably continue.
“Anyone familiar with George Town can clearly see these changes. They witnessed its downfall in the 1990s, its revitalisation and rehabilitation in the 2010s, and its inclusion on the list of the Top 10 Places to Visit in the World today,” said SM Goh.
Source: Historic George Town is evolving
