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