E&O to take 15 years to develop the first phase of Andaman Island

Property News/ 29 March 2023 No comments

Artist impression

Eastern & Oriental Bhd (E&O) has completed the reclamation of Andaman Phase 1 and plans to begin the development of the 253-acre land over the next 15 years with an estimated gross development value (GDV) of RM17 billion.

The first property, The Meg, has been on the market since January 2022 and has a 100 per cent sales rate as of January 2023.

The Meg comprises two residential apartment blocks with about 1,020 units situated in the prime Tanjung Tokong area near Gurney Drive.

According to E&O, the reclamation for Andaman Phase 2 will take another three years to finish and will provide a future land bank for development.

“The group believes that Andaman Island will play a significant role in driving its growth trajectory in Penang in the coming years,” E&O said.

Both Andaman Phase 1 and Phase 2 (also known as STP2) are part of Penang’s broader multi-billion-ringgit Seri Tanjung Pinang (STP) development.

STP is a seafront development masterplan on the northeast coast of Penang island. The 240-acre first phase, Seri Tanjung Pinang Phase 1 (STP1), is fully reclaimed and close to completion.

Tanjung Pinang Development Sdn Bhd (TPD), in which E&O-PDC Holdings Sdn Bhd owns 30 per cent, holds the concession rights for STP reclamation and development.

Permaijana Ribu (M) Sdn Bhd, an E&O wholly-owned indirect subsidiary, owns the remaining 70 per cent ownership stake in E&O-PDC.

E&O controls E&O-PDC and proposes to purchase the remaining 40 per cent equity interest in the company from Penang Development Corporation (PDC) for RM46.95 million through its indirect wholly-owned subsidiary, Kamunting Management Services Sdn Bhd.

“The acquisition of 40 per cent shareholding in E&O-PDC from PDC will enable E&O to own 100 per cent in TPD where the main development activities for the group will be concentrated on over the next 30 years,” E&O said in a stock exchange filing yesterday.

E&O said that the RM46.95 million purchase price was based on a willing-buyer, willing-seller premise and will be funded through a combination of internally generated funds, shareholder advances, and external borrowings.

The transaction is anticipated to close in December 2023.

Source: NST Online


SITE PROGRESS: GEM Residences (Mar 2023)

Property News/ 28 March 2023 No comments


About GEM Residences

GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company’s 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region – GEM Mall, the tenant mix include SOGO (first and largest departmental store in the northen region at 212,000 sq.ft.) and a supermarket (largest at 50,000 sq.ft.).

Find out more about GEM Residences

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Sunway Dora at Bayan Baru achieves 89% take-up rate

Property News/ 27 March 2023 No comments

Sunway Dora's Priority Unit Launch Was Packed With Excited Buyers

Master Community Developer, Sunway Property has launched the residential component of its latest freehold development, Sunway Dora in high-growth Bayan Baru, Penang, achieving an 89% take-up rate in total for the non-bumi condominiums alongside of its 100% take-up rate for its non-bumi commercial shop units which have been launched earlier.

Sunway Dora, the developer’s Signature Product, is worth RM 128 million in gross development value and comprises 156 units of residential units and 22 units of commercial shops with generous parking spaces for residents and visitors.

“Homebuyers and investors see Sunway Dora’s strategic location and green living offering as a great investment that captures the best of Bayan Baru’s rise as Penang’s new economic hotspot with the proposed Bayan Lepas LRT track, Intel Corporation’s RM 30 billion expansion in the Bayan Lepas Industrial Park, as well as the rise of business services and outsourcing activities within the area as exemplified by the nearby Mayang Global Business Service Centre and Mahsuri Global Business Service Centre,” said Sunway Property Penang General Manager Fong Choon Fuoi.

He added that Bayan Baru is anticipated to accelerate its growth into a vibrant township as it is Penang’s industrial hotbed which will create jobs and bring in further FDIs.

Progressive Lifestyle Founded on the Sunway Design and Development Architecture

Designed according to the Sunway Design and Development Architecture (SDDA) which encourages the Sunway community to live healthier, more sustainable, and holistic lifestyles, Sunway Dora integrates elements of Sustainability, Innovation, Health, and Wellness, as well as Lifestyle and New Experiences.

The GreenRE certified development incorporates high-performance considerations in energy efficiency, water efficiency, carbon emission, environmental protection, and indoor environmental quality, protecting both the environment and residents’ well-being in its design and build while effectively achieving cost savings for occupants during operations. One of these considerations is the express ramps in the five-level parking zone that grants a shorter traveling distance to the residents’ allocated carpark easily.

Access ramps are provided in all units to ensure that the home is elderly and wheelchair friendly. All bedrooms are externally facing to allow natural lighting. There are also units with dual-key designs ready for homebuyers who are considering the homes for multi-generational living or a semi-investor unit where the private unit can be rented out for additional income.

Some green features in Sunway Dora include a recycling room, rainwater harvesting, a heat-insulated rooftop, energy-saving lifts, and balconies with water taps to encourage urban farming.

Residents are well-equipped with a variety of facilities to encourage the pursuit of health and social activities at the facilities level of the development which has ample amenities including a swimming pool, wading pool, gymnasium, half basketball court, children’s play area, outdoor fitness station, BBQ area, herb garden, community hall, reading room, outdoor reading enclave, and multipurpose lawn.

As for lifestyle and new experiences, Sunway Dora’s residents will be located in the very heart of urban conveniences, surrounded by the vibrant commercial hotspots in Bayan Baru. Residents at Sunway Dora will be able to easily access F&B outlets as well as living necessities within the retail shops in the development as well as the surrounding areas.

Healthcare institutions such as Pantai Hospital (600m) are within close vicinity while retail and entertainment hubs including the largest shopping mall in Penang, Queensbay Mall (4km), Giant Bayan Baru Hypermarket (800m), Sunshine Square (1km), Bukit Jambul Complex (3km) and the Bayan Baru Wet Market (800m) are just a short walk or ride away with a new Mitsui Outlet Mall planned near the Penang International Airport.

The world’s first hybrid solar-powered MICE and sports venue, SPICE Arena (800m), and the Bukit Jambul Golf and Country Club (3km) offer a multitude of recreational facilities while education institutions such as SKJC Min Sin (2km), SJKC Chong Cheng (2km), SJKC Kwang Hwa (3km), and INTI International College (3km) are close by.

As for connectivity, Sunway Dora is located 2km away from the Bayan Lepas Industrial Zone, 3km from the Tun Dr Lim Chong Eu Expressway, 5km from Penang International Airport, 6km from the Second Penang Bridge and 7km from the Penang Bridge.

For more information on Sunway Dora, please log on www.sunwaydora.com or call: +604-684 8000.

SA Central @ Simpang Ampat

Simpang Ampat/ 27 March 2023 No comments


SA Central is an upcoming mixed-development project located in the center of Simpang Ampat township. To be developed by GUH Development Sdn. Bhd., this 46-acre freehold development is designed to cater to the increasing population in the area, providing a range of residential and commercial properties to suit every modern lifestyle.

Located next to the federal road and major corridor, which ensures excellent connectivity to the North-South Expressway. The development is adjacent to Iconic Point, and close proximity to an abundance of essential amenities. XCL International School and C Mart Premium supermarket are just a five-minute drive away.

Project Name: SA Central
Location: Simpang Ampat
Property Type: Mixed development
Land Area: 46 acres
Total Units: (to be confirmed)
Indicative Price: (to be confirmed)
Developer: GUH Development Sdn. Bhd.

Register your interest here for updates on this project and other property news

(This information will be used to keep you updated on the project and future development.)
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DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

Penang prioritises liveability in public housing schemes


Liveability is an important issue that the Penang government takes it seriously.

Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state acknowledges the need to ensure that public housing schemes are liveable.

“That is why the Penang Housing Board continues to monitor public housing schemes and People’s Housing Projects (PPR). We look into their needs,” he told a press conference at his office on Wednesday.

Jagdeep commented on a news report by an English daily which highlighted the tough life of children living in PPR.

The news article, which focused on several PPR outside Penang, reported the living conditions that could make children vulnerable to mental health issues.

“We share the concerns of the public and we hope that the issue can be addressed quickly.

“In Penang, we do not compromise liveability; especially for our low-cost, low medium-cost and affordable housing schemes.

“As for PPR projects in Penang, the Desa Wawasan in Bukit Mertajam is a good example of a well-maintained PPR project,” Jagdeep said.

He added that the state’s objective was no longer only assisting those eligible to have a roof over their heads, but also ensuring the homes are liveable.

“These projects must include features and facilities for the families or residents living there,” he added.

Source: Buletin Mutiara