Eastern and Oriental Bhd (E&O) is set to launch its latest project Amaris Terraces By-The-Sea at its Seri Tanjung Pinang development in Penang this November, pending the completion of the project’s show unit.

“We are calling this project Amaris Terraces By-The-Sea because some of the units are literally by the sea. There are a total of 29 units which comprise 23 intermediate units while the remaining ones are corner units,” E&O head of marketing and sales (Penang) Christina Lau told TheEdgeProperty.com.

Lau noted the group is still working out the details on the pricing and will be sharing it with the public closer to the launch date.

The built-up for a typical intermediate unit is 5,262 sq ft while the corner units start from 6,056 sq ft.

“These terraced homes come with a built-up of a detached home. They also have a courtyard and a lift,” Lau said.

According to Lau, the development, which is scheduled to be completed by 4Q2017, is sitting on a 2.15-acre freehold site and has a total gross development value of RM122 million.

“We will be targeting repeat buyers from our past projects and those with extended families who wish to upgrade their residential units. We have many repeat buyers here whereby they start off by buying terraced homes, then they upgrade to the semi-dees and subsequently the bungalows. Some of them have even proceeded to buy the strata-titled properties here after that. We have quite a pool of followers,” Lau said.

Lau added that this project is also suitable for multi-generational living since it comes with a lift.

“There are no rooms downstairs. The master bedroom is located on the top floor. In front of the master bedroom there is another room, whereby you can convert the whole area into a study perhaps, and you will have the whole upstairs to yourself,” Lau said, adding that there are three bedrooms on the floor just below the top floor.

“Meanwhile, when you enter the house, you will first enter into the kitchen on the left. Further to your left, you have the maid’s room and the laundry area. There is a side door for the maid to go out to hang the laundry. There is a concrete wall at the porch where residents can plant creepers to beautify and make the area look green. Then, at the back of the kitchen is where the living room and dining area are,” she noted.

Lau further explained that Amaris is well connected with plenty of amenities nearby.

“It is only a walking distance to the Straits Quay retail marina, the four-acre Straits Green public park and the Tesco hypermarket. Straits Quay is the very first seafront retail marina spanning about 200,000 sq ft of retail space where residents will be able to enhance the experience of living by the sea with its array of dining and retail outlets. Additionally, the public park launched in 2013 is equipped with water features, running tracks and a playground, complete with a composting site where communities and residents can learn how to compost and grow healthy food,” Lau said.

Parents with children will also be pleased to know that there are a few reputable international schools within a few kilometres from Amaris such as Dalat International School, Tenby International School and Uplands School as well as established public schools such as the Penang Chinese Girls High School and Phor Tay High School.

On the current slowdown in the property market, Lau believes buyers are very discerning and are looking for properties with strong differentiation and a good location.

“They will take their time to survey the market for good quality products in this current market. Amaris will be able to attract genuine buyers despite the current market condition as it is backed by the tenets of the right product, is located at a prime location, and has the promise of a brand with a proven track record,” Lau concluded.

Find out more about Amaris Terraces here

Source: TheEdgeProperty.com.my

Villa Harmony, one of the first gated and guarded community in Tasek Gelugor. Featuring 24 hours guarded living with CCTV surveillance. It is located along Jalan Pokok Machang, just a short drive away from Gelugor town centre.

This development comprises 44 units of 2-storey terrace and 18 units semi-detached and 9 units of bungalow houses. It will comes with a full-featured gym, a swimming pool, a children’s playground, games rooms and more. The clubhouse also features a multipurpose hall, conference rooms and other facilities for bigger gathering of family and friends.

Indicative Price:

• Terrace: RM382k onwards
• Semi-detached: RM583k onwards
• Bungalow: RM819k onwards

Project Name: Villa Harmony
Location : Tasek Gelugor, Penang
Property Type : Gated & guarded
Built-up Area: 2,204 sq.ft. onwards
Land Area: 1,360 sq.ft. onwards
Total Units: 44 (terrace), 18 (semi-d), 9 (bungalow)
Developer : Villa Hectares Group

Location Map:

The state government has increased the development density to 128 units per acre up from 87 units per acre as part of measures to cushion the unfavorable economic impact on developers and to lower prices for residential units.

Penang Housing, Town and Country Planning Committee chairman Jagdeep Singh said units built under this guideline cannot be less than 900sq ft and not cost less than RM400,000.

He said developers found it difficult to sell bigger size units under the 87 units per acre guideline as a 1,400sq ft unit was priced at more than RM900,000 in some cases.

Jagdeep reasoned the higher density was allowed since the higher the density, the smaller the unit size and the smaller the unit the cheaper the price.

He nonetheless said the requirements for having affordable housing elements and low-cost (LC) and low-medium cost (LMC) components under the new guideline was maintained.

“So across the board I am going to get more affordable units, this is a win-win,” he said in a press conference on Monday night after attending the annual Penang Real Estate Housing Developers (REHDA) annual dinner.

Asked to elaborate, Jagdeep said the floor price of RM400,000 was set so developers building projects under the increased guidelines would not compete with developers who were building 100% affordable housing projects.

Source: TheSundaily.my

Following the unveiling of Penang Transport Master Plan, developers are eyeing for opportunities near LRT stations. This is particularly obvious in Sungai Nibong where there were at least 7 projects proposed by 6 developers in the past 12 months, with the exception that there is still no official plan submitted by SP Setia for Setia Sky Hill.

If you insist you must buy a property near LRT station and within close proximity to schools, these are the projects you should keep a very close eye for their upcoming launches in 2017 / 2018.

You may also find out more details from the respective project post below:

1. SP Setia (Setia Sky Hill)
Two blocks of residential towers with 341 condominium units

2. Gembira Development Sdn. Bhd.
23-storey commercial building with a mix of 64 units residential and 38 units office suites

3. Prisma Bumiraya Sdn. Bhd.
Single block of 34-storey building, offering 197 condominium units with facilities located at rooftop.

4. Bayan Capital Sdn. Bhd.
To be developed in four parcels, with a mix of affordable housing and commercial components.

5. Sepakat Mewah Sdn. Bhd.
21-storey building comprising condominium, budget hotel, shop offices.

6. Red Blue Development Sdn. Bhd.
Comprises a 25-storey condominium, 3-storey terrace houses and shop offices.

7. Prisma Bumiraya Sdn. Bhd.
Two 43 & 44-storey skyscrapers, offering a total of 369 residential units. (more details to be available soon)

Home buyers packing the EcoWorld Gallery @ Eco Meadows in Simpang Ampat to secure their preferred units during the launch of Eco Bloom.

Response has been overwhelming for Eco World Development Group Bhd’s mixed residential-commercial Eco Bloom project in Simpang Ampat, Penang.

A good portion of its stylish residences has been snapped up, with many drawn to the unique concept, excellent location, attractive pricing and promise of quality.

If you have been eyeing a unit here, the StarProperty.my Fair 2016 in Queensbay Mall from Thursday to Sunday will provide a good opportunity to get one while you still can.

EcoWorld northern region general manager Khoo Teck Chong said there were people queueing overnight to secure their preferred units at the official launch last month.

With prices starting from RM388,000 before rebate, it is one of the most affordable mid-to-high end products currently on the market.

Eco Bloom’s freehold condominiums come in sizes of 800sq ft, 900sq ft and 1,100sq ft, all housed in a 33-storey tower sitting atop the commercial podium block.

These are ideal for young couples, first-time buyers or those who could not afford more pricey properties, but still want all the luxuries of life that come with it.

“Affordability is an important factor with the current market conditions. We noticed a lack of options in this range, and wanted to fill this niche.

“The great response is not only an affirmation of Eco Bloom’s appealing concept, but also the buyers’ trust in the EcoWorld brand.

“It carries an assurance of product and service quality. You know you’ll get great value whether you’re buying for investment or for your own stay,” Khoo said.

The project, located on a 1.9ha (4.86-acre) plot, is the second phase of the larger Eco Meadows development that fronts Jalan Paboi.

It follows the initial offering of Northampton Terrace homes, which are already sold out and have since become one of the most desirable addresses on the mainland.

It will have the same English neo-royalty aesthetic, along with verdant landscaping, that is an EcoWorld hallmark.

Future inhabitants will have approximately 76,000sq ft of facilities to enjoy – including a swimming pool, children’s pool, gymnasium and children’s playground.

The list continues with a barbecue area, function hall, multi-purpose court, games and study rooms, pocket gardens and open gardens.

Security is assured with a three-tier system that includes alarms on the main door and yard door, intercom system, access card for car park and lift lobby, and panic buttons in the master room and living hall.

“We noticed that many buyers are those upgrading from surrounding neighbourhoods.

“A lot also hail from the southeast of Penang island, where a similar product would be significantly more costly,” added Khoo.

The 23 shoplots located at the podium come in two sizes – typical ones measuring 22ft x 68ft, and corner units at 35ft x 68ft.

Khoo said they would have a dedicated leasing team selecting an optimum mix of tenants, which cater to residents’ lifestyle needs.

A 24,000sq ft Bloom Gardens right in front of the project provides a conducive space for al-fresco dining, as well as leisurely family activities.

The excellent location is only five minutes away from the North-South Expressway. From there, easy access to various destinations on the mainland is available, as well as the island via the Sultan Abdul Halim Mu’adzam Shah Bridge.

Khoo said they are delighted to once again be part of the StarProperty.my Fair in Penang, and to highlight their offerings to interested parties on this side of the channel.

Besides Eco Bloom, the company would also be featuring their Eco Terraces condominium in Paya Terubong, as well as the aforementioned Eco Meadows.

Visit them at booth C1 during the four-day fair, open from 10.30am to 10.30pm daily.

Source: TheStar.com.my