Eastern & Oriental Bhd expects a strong financial performance this year from the ongoing sale of its properties and the planned disposal of several major non-core assets.

The property developer has RM840.6mil in unbilled sales, which will be recognised progressively over the next two years.

It has also identified seven non-core assets including several parcels of land and retail malls to be divested.

Group MD Kok Tuck Cheong pointed out the group would also be recognising profit from the disposal of a portion of the company’s Seri Tanjung Pinang phase 2 (STP2) project in Penang to Kumpulan Wang Persaraan (Diperbadankan) (KWAP) for RM766mil.

Setia Fontaines, a 1,675-acres freehold township development by S P Setia at Bertam. Strategically located adjacent to Bandar Putra Bertam, less than 25 minutes drive to Penang bridge and Butterworth.

This development will feature two residential collections, offering park homes of single and double storey terrace, cluster, semi-detached and bungalow houses. Lush greenery and scenic waterways designed around nine islands and nine regions, adorned with fountains and water features.

Launched:

• City Centre Business Hub (Shop offices – RM600,000 onwards)
• Amansara S (Terrace house – RM330,000 onwards)
• Nusa Cinta (Gated & guarded – RM420,000 onwards)

Project Name : Setia Fontaines
Location : Bertam, Penang
Property Type : Township development
Land Tenure: Freehold
Total Units: (to be confirmed)
Built-up Size: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : S P Setia

Location Map:

SITE PROGRESS

SITE PROGRESS: Setia Fontaines (Apr 2021)

SITE PROGRESS: Setia Fontaines (Dec 2020)

LOCATION VIDEO

Wanted to stay near IKEA? You have a few options with price starting from RM72,500 onwards. With Suria @ Hijau E-Komuniti affordable units now open for public (open market), you can now grab a 1,000 sq.ft. unit for less than half the price of a similar size in Vertu Resort Condominium. These two projects are only 1km apart.

	Vertu Resort	Suria @ Hijau E-Komuniti
Developer	Aspen Group	Penang Development Corporation
Location	Batu Kawan	Batu Kawan
Standard unit size	1,030 sq.ft. – 1,800 sq.ft.	800 sq.ft. – 1,000 sq.ft.
Price psf.	RM386 onwards	RM186 onwards
No. of carpark	2	1
Selling Price	RM398,000 onwards	RM168,000 onwards
Development land size	7.2 acres	6.7 acres
Land tenure	Freehold	Leasehold
Total units	1,282	520
Expected completion	2021	2017
Highest floor	43	40
5 nearest schools	Upcoming KDU Univerity College (1km) Upcoming ALC College (4km) SK Batu Kawan (5km) SRJK(C) Keng Koon (6km) SRJK(C) Boon Beng (12km)	Upcoming KDU Univerity College (1km) Upcoming ALC College (4km) SK Batu Kawan (4km) SRJK(C) Keng Koon (5km) SRJK(C) Boon Beng (11km)
5 nearest malls	Penang Design Village (1km) Upcoming IKEA Penang (0.5km) Tesco Alma (13.5km) Aeon Jusco Bukit Mertajam (13.5km) Pearl City Business Park (11km)	Penang Design Village (0.5km) Upcoming IKEA Penang (1.5km) Tesco Alma (13.5km) Aeon Jusco Bukit Mertajam (13.5km) Pearl City Business Park (11km)
Web popularity (Since 1/Jan/17)	9,800 pageviews	4,978 pageviews
Travelling to (off peak) Penang Bridge 2nd Bridge Airport Komtar FTZ	22km (18 minutes) 4km (4 minutes) 28km (26 minutes) 38km (35 minutes) 24km (20 minutes)	22km (18 minutes) 4km (4 minutes) 28km (26 minutes) 38km (35 minutes) 24km (20 minutes)
Key highlights (by developer)	10 mins walking distance to IKEA Penang Move-in condition with furniture and electrical appliances More than 200,000 sqft facilities spaces Seamless accessibility and connectivity	(No feedback from developer)
	More about Vertu Resort	More about Suria @ Hijau E-Komuniti

Work on the Suria 1 affordable housing project in Bandar Cassia, Batu Kawan, comprising 520 units by the Penang government has been completed.

The project, which comprises three blocks of medium and low medium-cost units, is the first phase of the 25-stage plan to build 11,800 residential units and 200 shop lots.

It was reported that the three blocks were built within 2.6ha land with a gross development value of RM86.9mil.

State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the project, which started in July, 2014, was waiting for the Certificate of Completion and Compliance to be issued by end of this year.

“I understand that 86% of the project’s Type B (RM72,500) and 73% of Type C2 (RM168,000) have been sold.

“But 273 units of Type C3 (RM220,000) with 1,000 sq ft space are still available as only 25% had been sold,” he said recently.

He added that the whole project was expected to be completed in the next 15 years.

“A total of 20 phases are for residential development while five phases will comprise facilities.

“So far, the food court complex under Phase 2 and a surau under Phase 3 have been completed,” he said.

Source: TheStar.com.my

The first phase of the RM10bil Aspen Vision City in Batu Kawan is scheduled for completion at the end of next year.

The first phase comprises an Ikea store, Columbia Asia Medical Centre and Vervea, a commercial project.

Aspen (Group) Holdings Ltd president and chief executive officer Datuk M. Murly (pic) said the Vervea would be ready end of 2018.

“The Ikea store will open in the first quarter of 2019,” he added.

Murly says the Vervea, located on a 35-acre site with prominent visibility, is the largest gated and guarded commercial precinct in the northern region.

“Vervea comprises a vibrant collection of versatile commercial shop offices complemented with a host of business-centric features.

“It has 441 units of three and four-storey shop offices, equipped with business-enhancing amenities such as ample parking space and strategically-positioned external linkages.

“Easily accessible from the second Penang bridge, North-South Express Highway and other major roads, Vervea enjoys a continuous flow of high-value customer traffic from both Penang island as well as the mainland,” he added.

The other component of Aspen Vision City is Vertu Resort, which is scheduled for completion in 2020.

Murly said the group had started the piling works for the project.

“As the first residential development in Aspen Vision City, Vertu Resort is also the first resort-inspired high-rise development in mainland Penang,” he said.

Vertu Resort is furnished for a truly move-in condition with home furnishings as well as electrical and kitchen appliances.

“Set to raise the standard of living for everyone and providing a first-look into the cosmopolitan lifestyle that Aspen Vision City is set to be a model city for — Vertu Resort packs plenty of facilities and amenities to suit individual styles and preferences.

“From the 152m-long swimming pool to the rock climbing adventure area, Vertu Resort offers an abundance of activities to do in a holistic living environment that caters for everyone,” he added.

On the group’s first affordable condominium in Tanjung Tokong, Tri Pinnacle, Murly said it is the first private-initiated affordable housing project in Penang, scheduled for completion in end of 2018.

“The project is widely recognised as the catalyst initiative that inspired a host of similar affordable developments from other private developers across Penang, which has successfully set a new benchmark for affordable housing projects.

“It is equipped with state-of-the-art rooftop facilities that include a sky infinity swimming pool at the rooftop,” he added.

On the upcoming projects for Aspen Vision City, Murly said the group was planning the RM350mil Viluxe Villa residential scheme, the RM238mil Vittoria Financial Centre and the RM613mil HH Galleria.

“The Viluxe Villa comprises 13 bungalow units, while the Vittoria Financial Centre has five blocks of commercial buildings and an office tower.

“The HH Galleria is a mixed development project with two condominium blocks, shop offices and retail spaces,” he added.

Murly said the group was planning a shopping mall in Aspen Vision City which would cost RM1bil to construct.

“The mall, scheduled for opening in either 2020 or 2021, will have a net lettable area of 1 million sq ft,” he said.

Source: TheStar.com.my