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.

About The Meg @ Andaman

The first project in Andaman Island, the highly-anticipated prime reclaimed island of Seri Tanjung Pinang Phase 2A by E&O. Features two blocks of 27 and 34-storey serviced apartments with an estimated GDV of RM690 million. It comprises 1,020 residential units with innovative layouts designed to suit young executives and new families.

Find out more about The Meg @ Andaman

A newly proposed commercial development by Advance Golden Properties Sdn. Bhd. in the heart of George Town. Situated on Jalan Logan, directly across the road from Logan Ville apartment, this location is less than 2km from KOMTAR and boasts numerous amenities that can be reached within a 5-minute drive.

This development will include the refurbishment of the existing 2-storey heritage building and the construction of a 36-storey serviced apartment with a total of 311 residential units. There will also be an automated car parking facility.

The project is still pending approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : George Town
Property Type : Serviced residence
Tenure : (to be confirmed)
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units : 311
Indicative Price: (to be confirmed)
Developer : Advance Golden Properties Sdn. Bhd.

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.

The Monetary Policy Committee of Bank Negara Malaysia kept the Overnight Policy Rate (OPR) at 2.75 percent. Despite positive developments such as the reopening of China’s economy and better-than-expected growth in major economies, the global economy continues to be affected by elevated cost pressures and higher interest rates. Some central banks are expected to continue raising interest rates to control inflationary pressures, which could pose headwinds to the global growth outlook.

The Malaysian economy grew by 8.7% in 2022 due to the recovery in private and public sector spending after the economy fully reopened. In 2023, the economy is expected to moderate amid a slower global economy, with domestic demand continuing to drive growth. Tourist arrivals are expected to rise, while infrastructure projects and investment activity will be supported.

Headline and core inflation are expected to moderate in 2023, but will continue to be elevated due to demand and cost factors. The MPC will continue to assess the impact of the cumulative OPR adjustments, and will calibrate monetary policy settings to balance risks to domestic inflation and sustainable growth.

Almost five years after construction began, the Penang International Airport multi-storey car park is expected to begin operations next month.

The car park was supposed to be ready by the end of 2019.

According to Transport Minister Anthony Loke, works are progressing at 99.79 per cent and entering the final phase.

“This includes touch-up works as well as testing and commissioning of the mechanical and electrical (M&E) system.

“Malaysia Airports Holdings Bhd (MAHB) has given its assurance that the multi-storey car park shall be completed by the end of this month and will start to operate early next month.

“MAHB’s focus now is to complete the project so that the public will be able to use the facility soonest,” he told the New Straits Times when contacted.

Answering to an oral question at the state legislative assembly sitting back in May 2019, Chief Minster Chow Kon Yeow had then said that construction works for the car park building had begun in August 2018 and would take 14 months to complete.

The seven-storey car park, on the existing 650-bay open car park site, cost RM70 million to build.

The 2,200-bay covered car park will be able to cater to the needs of travellers who can now leave their vehicles at the airport when heading out on short trips.

The construction of the car park building was part of the airport expansion project mooted in 2008.

Loke said, prior to the pandemic, the project had achieved 88.8 per cent of work progress.

He said the Movement Control Order (MCO), construction material price hike post-pandemic, materials shipment disruptions, shortage of manpower as well as issues faced by the contractor had further contributed to the project delay.

“MAHB had carried out a recovery plan and has directly appointed the sub-contractors to complete the remaining works by the end of this month,” he added.

He was also asked if there was any truth to claims that the car park could not be used earlier due to construction issues.

Loke said, prior to the commencement, the multi-storey car park project had obtained approval from the Penang Island City Council (MBPP) for the planning approval and building plan approval.

He stressed that the Professional Architect had complied to the Uniform Building By-Laws (UBBL 1984) specifications and design.

“As such, the width of the ramp structure/flyover is sufficient for cars to enter.

“In addition, the ramp is also currently being used by cars and small lorries entering the project site (construction workers’ vehicles) without any problems,” he assured.

When tabling the 2023 Budget in Parliament recently, Prime Minister Datuk Seri Anwar Ibrahim had announced a project to expand the PIA and Subang Airport and halted plans to build a new airport in Kulim.

He had said that the expansion of the two airports, to be spearheaded by MAHB, would benefit the economy at a cost that was much lower than the cost of building a new airport in Kulim, which is estimated to cost RM7 billion.

During a recent visit here, Loke had said that expansion of the PIA will begin by the end of this year, and that he had directed MAHB to expedite the project.

The expansion will see the capacity of the airport, the third busiest in the country, increase to 12 million passengers annually from the current 6.5 million passengers. The floor space would also be increased by 100 per cent.

Source: NST Online