E&O launches Arica on Andaman Island
Eastern & Oriental Berhad (E&O), the premier lifestyle property developer, has announced that all units at The Meg, its maiden project on Andaman island launched in 2021, has been taken up. On the heels of this overwhelming success, E&O is set to launch Arica, a 380-unit freehold development nestled in the heart of the Gurney Green district.
“We are truly encouraged by the support we received for The Meg despite the uncertainties surrounding the pandemic at that time, which we humbly attribute to our track record in Seri Tanjung Pinang over the last 20 years,” says Emily Teh, Director, Projects and Property Investments, E&O Group.
“We are excited to build a pioneering and dynamic community here on Andaman. It is E&O’s ethos to elevate life at every address, and we invite all to come to make the most of it,” Teh added. “More space, more time, more joy—all yours for the asking, at Arica.”
Arica is conceptualised as a serene, well-rounded sanctuary to appeal to young couples, small families, and empty nesters looking for homes that fit their post-retirement lifestyles. A low-density dwelling with a Gross Development Value (GDV) of RM400 million, Arica’s tastefully fitted and furnished units range from 947 sq ft to 1,259 sq ft. The 2- and 3- bedroom units offer efficient and practical layouts for optimal living. Designed to meet Green Building Certification standards, Arica prioritises active and communal living with personal and professional spaces carefully crafted in the common spaces. Coupled with well-thought-out outdoor and indoor amenities, making a home is a breeze at Arica.
“Arica is not only strategically located within the exciting commercial precinct of Gurney Green, it is actually sited right next door to The Meg. With aesthetically aligned architectural language between The Meg and Arica, the two developments complement each other in more ways than one, the most meaningful being the retail conveniences of Temu at The Meg being able to serve the needs of Arica residents as well”, said Teh.
Andaman’s masterplan embraces green living and community building at the heart of its design. With more than 90 acres of green spaces devoted to parks, playgrounds, and public realms, residents will enjoy the outdoors surrounded by fresh sea breeze and lush landscaping. Wide seafront promenades for pedestrians and cyclists will encourage accessibility throughout the island, and across the two bridges that link Andaman to Gurney Wharf and Seri Tanjung Pinang.
“Having been awarded the provisional GreenRE Platinum Certification and with Penang’s position as a prominent secondary city in Malaysia, we are confident that Andaman’s vision of a 15-minute city will continue to attract a sophisticated community looking for exciting urban island living,” added Teh.
Arica is scheduled to be completed in 2027.
Please send me more info. Thanks.
Interested then go and find the developer, not wait for them to come and find you.
@jack
Almost Sold Out
@WAVANA
Another new project upnext in here. Just wait..
Plenty of land here.
ya la, plenty of land, very soon, there will be an over supply again, and then owners cannot flip, and then they try to rent units out only to find that rentals are stupidly low, and the vicious cycle continues decade in decade out. :))))))
Over the last 10+ years, all E&O condo buyers were largely not able to make any capital gains buying it’s properties. One blog comment on The Suites @ Waterside said in year 2008 —-
“Due to strong demand, E&O has just quietly released some new units on the left wing of the development a few weeks ago. Most of them have been snapped up but some units are still available. Type D (1800sf) starts at RM1.4m and above.”
That was 15 years ago, and today, there are still sellers trying to sell a 1800sf at 1.4m, with great difficulty. Ppl always get excited over new E&O projects, but it has been proven, again & again, due to developer high price, no capital gains can be made!!!!!!!
Oppsss… you guys still thinking the developers are building and selling the property for local? No No No… the only exit strategy for developers now is selling and promoting to foreigners (especially hong kongese).
@JJ Pi Mana
Yes yes yes, we all know that the so-called “exit strategy” for developers is selling to foreigners and some local “water fish”, which further underscores the hard cruel fact that it will be very very difficult for local buyers to flip in secondary market later on as :-
(1) there is still plenty of new supply from developers due to high plot ratios given by MBPP
(2) foreigners normally only buy new units from developers as they come with a 2-year warranty.
Same case for Suites @ Waterside, all sold out 10+ years back to foreigners + waterfish locals, and 15 years on today, given finance + opportunity cost, all would have to sell at a loss today, IF, and only a big IF, a buyer can be found!!..:)))))))))
@JJ Pi Mana
Hongkongese not interested in small piece of condo.
They prefer landed or at least a super condo 2000+sqf above.
Those small unit only suitable for Airbnb & holiday home. E&O you know the history of past project. Needless to mention even Quayside sold at lose for many owners. Tamarind hmmmm…check yourself..
@Bob Jin
Have lah, low cost HongKong buyers buy small RM1mil+/- apartments, the mid-cost fellas buy RM3mil +/- landed or super condos. But still, they prefer to buy from developers, and there is more supply than demand too. That’s why E&O landed owenes are stuck too, with super low rental yield, but very hard to sell in secondary market.
@FinancialCrisis
Either you sell at lost or zero buyer.