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Farlim or through its official name Bandar Baru Air Itam (Malay for New Town of Black Water) is a township area with housing estates located near Air Itam in Northeast Penang Island District, Penang, Malaysia. The official name refers to it being a new town within Air Itam. The name, Farlim is derived from the company that developed this township.[1]

The land where Farlim is located was previously known as Thean Teik Estate (named after Khoo Thean Teik) which was later purchased in the 1920s by Leong San Tong Khoo Kongsi (clan association for the Khoo surname with origins in Sin Kang village, Fujian, China).

The township has 2 hypermarkets, Sunshine Farlim Shopping Mall and Giant Superstore Farlim, the latter housed at All Seasons Place (see below), and a supermarket, Bandar Baru (Air Itam) Supermarket. Most major local banks have a branch here and there are a few schools located within as well.

A health clinic costing RM25.8 Million commenced operation in June 2010 offering outpatient, emergency, dental, laboratory, X-ray and pharmacy services.[2]

All Seasons Place, Penang's first strip mall, began here in May 2012 and promises to be the premier lifestyle destination for shopping, dining and entertainment — all year round, hence the name.[3]