George Town Inner City Named after Britain’s King George III, Georgetown is located on the north-east corner of Penang Island. Most of George Town’s population is of Chinese origin. Due to strict controls, George Town retains many of its colonial-era shophouses to this day. It is officially recognized as having a unique architectural and cultural townscape without parallel anywhere in Southeast Asia. The town truly springs to life in the evenings, when most of the locals head to the nearby street hawkers to have their meals and drinks.