E&O to launch RM700mil waterfront commercial project at Andaman Island
Eastern & Oriental Bhd (E&O) is stepping up its project pipeline, driven by new waterfront developments in Penang and continued township expansion at Andaman Island, as it advances the long-term master plan for the reclaimed island.
Managing director Kok Tuck Cheong said the group’s next launch will focus on a low-density commercial waterfront project within a 30-hectare belt adjacent to its Maris development at Andaman Island.
“This will be the last of the waterfront projects before we cap the entire stretch. It will be a low-density development with larger units, and we are still working to maintain our price points,” he said at a media briefing.
The project is expected to have an estimated gross development value (GDV) of about RM700 million and is targeted for launch by year-end, subject to final approvals.
The group is also advancing plans for about 1,000 affordable housing units on the island, spanning roughly 1.6 hectares, to meet state requirements and support workforce demand.
Beyond residential developments, E&O is planning a major commercial hub on the island, which may include a retail mall, luxury hotel, serviced residences and office space. The development is expected to take shape over the next five years.
In the Klang Valley, the group continues to roll out new launches, including shop units and landed homes at Laman Embun in Elmina, while exploring opportunities to expand into premium Kuala Lumpur locations through potential collaborations.
Kok said the steady pipeline across Penang and the Klang Valley will support the group’s target of launching about RM1 billion worth of properties annually.
Source: NST Online
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Finally! That’s 1000+ affordable available in Andaman Island. Yahoo…
Pls update me any condo that adjacent to shopping mall at Andaman island
If really got affordable housing inside the island, then The Meg buyers GG liao. 700 square feet, 3 rooms for 200-400k only versus Meg 550 square feet, 1+1 room starting 400k above (if not mistaken). Not yet take keys already kena game gao gao. Luckily I waited, hahahaha
@CM Chow
This will definitely be one of the hottest affordable housing when launched.
Affordable homes on Andaman island just to meet the state’s requirements; did I read that correctly? So buyers paid RM1,000+ upwards per sq. ft. for a “premium” address in this prime location, only to later find out that others can secure units at a lower price point and still have the same address as you? That emotional, gut-wrenching feeling of realizing you may have overpaid certainly makes the purchase feel a lot less “premium,” doesn’t it?
Ya lor, where are those Asia Green fanboys who always claim their Zen is the best affordable housing? This one got its own island, 360 seaview, while Zen’s view is going to be blocked by future development as land reclamation continues to merge with Pulau Jerejak.
E&O has got to be either the most generous developer or stupidest ever to build affordable housing on expensive reclaimed land. I don’t see any affordable housing at The Light or Queens Waterfront. IJM and Ideal just build their affordable housing elsewhere at ulu-ulu places in Jelutong, Gelugor and airport. I can foresee burger and air balang stalls mushrooming soon in Andaman, abandoned cars, rubbish strewn streets. They are just going to throw their “premium” brand into the sea, nothing special about that island, just another common address in Penang.
@ken33zero
Oh come on bro. You should have do the homework before enter buying the project.
The condition is very similar as Straits quay & mix development balance up & avoiding oversupply for certain category housing. That’s plenty of affordable housing & even low cast project in Andaman by government reserved land.
@ken33zero
Which will be more gut-wrenching? 1000 units of affordable condos, or 1000 units of low cost flats?:))
@CM Chow
The Meg at least RM900psf onwards if not mistaken. Affordable condos normally ~RM500psf, and affordable low cost flats normally ~RM400psf. Different things lah of course, they all can co-exist, just like Tanjung Tokong now, with E&O built affordable low cost flats right beside the multi-million dollar E&O landed, and The Tamarind too.
@Hemsley
1000 units only, I think it will be low cost flats lah. You want meh?? :))))
@cheapcheap
which landed just right beside low cost flat in tanjong tokong?
@CM Chow
So now, potential buyers have all put their plans on hold. Why pay RM1200 per sqft when others are paying RM400 while imagining your investment of millions beside a RM400k property, which would affect the future price of those luxury condos? Better not buy now; wait and see what goes on. With such a plan, Maris, Lume, and Avea are going to be hit hard and then become another FOREST.
Pls update me on the affordable housing opening. I am putting on hold to purchase.
Affordable house shouldn’t be discriminate.
A successful township city plan, you need to balance up all together range from low/mid/highend.
In Strait quay we have low cost affordable house too. That’s how it goes for Andaman as well.
If you want a premium then better go for Gurney bay millionaire row or westin residences . The meg is starting at Rm500k only so basically no different if affordable unit comes with below 300k to cater market demand.
The premium prestigious master plan development in Penang so far.. only millionaire row at Gurney bay/The light city & Queens waterfront series. The rest is just ala carte. It could be easily another affordable or low cost house next of it. That’s how it goes. What you pay what you get.
@WaitSeeMarket