Eastern and Oriental Berhad (E&O) treated some 150 of its loyal customers to an exclusive preview of its new Amaris Terraces By-The-Sea in Penang.

Guests were first briefed on the project at the E&O Sales Gallery in Seri Tanjung Pinang before being whisked away for a tour of the impressive show unit.

After checking out the well-appointed interiors, they were feted to an afternoon tea prepared by E&O Hotel’s 1885 fine dining restaurant.

E&O head of marketing and sales (Penang) Christina Lau said the Amaris Terraces were among the last landed properties in the award-winning Seri Tanjung Pinang masterplanned seafront development.

Sited on a 2.1-acre freehold parcel, it consists of 29 units of three-storey terrace homes with an estimated gross development value of RM122mil.

Set for completion by the end of next year, their spacious built up areas range from 5,262sq ft for the intermediate units, up to 6,056sq ft for the corner ones.

Their ample living spaces encompass five bedrooms, one maid’s room, five en suite bathrooms, one powder room and one maid’s bathroom. Each home comes with a courtyard and private lift.

Lau highlighted the location as one of the strong points of the project.

She said the response during the recent three-day preview was promising.

Find out more about Amaris Terraces By-The-Sea

“We are targeting our loyal followers, especially repeat buyers of our past projects and those with extended families seeking to upgrade their residential units.

“Seri Tanjung Pinang is among Penang’s most sought-after addresses given its prime location with ample amenities nearby, backed by the promise of E&O’s established brand and proven track record,” she added.

Priced from RM3.78mil onwards, the homes are within walking distance to Straits Quay and Straits Green.

Straits Quay is the state’s first seafront retail marina, with around 200,000sq ft of retail space offering an array of dining options, retail shops and lifestyle indulgences.

Straits Green is a 4-acre public park launched in 2013.

It is equipped with waterplay features, running tracks and a playground.

There is also a composting site where nearby communities can learn how to grow food the healthy and natural way.

Just next to this is the Tesco hypermarket where one can find all their daily needs.

Amaris residents can also enjoy leisurely strolls along the wide seafront promenade that stretches from one end of Seri Tanjung Pinang to Straits Green.

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Actual site video:

Source: TheStar.com.my

Penang’s latest track of outlet stores will be opening in just under five days at Batu Kawan. The Design Village, also known as Penang Premium Outlets, will house dozens of luxury brands on a 28 acres of land.

The outlet mall will be opening on 23 November @ 6PM. Here is the complete list of brands opening in new mall and most of them will open on 23 Nov, while some will open within the next two months.

That’s not all, there are more brands under negotiation and will be joining the mall in 2017.

* Find out more about Design Village *

* Residential Suites @ Utropolis (Next to Design Village)
Launching soon…REGISTER YOUR INTEREST HERE *

Marking the Group’s inaugural entry into Penang’s property market, Hua Yang Berhad (“Hua Yang” or the “Group”), a leading property developer in the affordable housing sector, introduced Meritus Residensi today.

Established in 1978, the Group today is recognised as one of the nation’s leading property developers in the affordable housing segment, with a strong footprint in Klang Valley, Perak and Johor. The Group’s foray into the Northern region is an extension of Hua Yang’s vision to help make dreams of affordable home ownership a reality.

Ho Wen Yan, Chief Executive Officer of Hua Yang, said, “Leveraging on our experience in the property sector that spans close to four decades, coupled with our expertise in delivering innovative, quality and affordable homes, we are confident that our expansion into the Penang property market will augur well for the Group.”

According to Ho, demand for affordable homes are expected to continue to be on the rise, especially in Penang where the State is developing rapidly and land close to urban centres are becoming more and more scarce. “We believe that offerings like Meritus Residensi, which are strategically located and features facilities that cater to the contemporary urban lifestyle, will be well-received by first-time home buyers as well as those who are looking to upgrade,” he added.

Meritus Residensi is a 4.32-acre project consisting 480 units of serviced apartments and 15 retail shops. With an estimated Gross Development Value (GDV) of RM220 million, this project makes up the first phase of a 6.98-acre freehold mixed development. Strategically located along the vibrant Jalan Baru thoroughfare, the development is set within a 44-storey tower, which will become a tall iconic structure in the Prai community. The estimated GDV of the overall development is RM324 million.

The serviced apartments come in a variety of sizes, from 945 sq.ft. (square feet) onwards, and are priced from RM364,500. Meritus Residensi is expected to be completed by 2020.

The Group now has a total undeveloped land bank of 331.2 acres in the Northern region with a potential GDV of RM1.5 billion.

* Find out more about Meritus Residensi *

Viluxe, the first gated and guarded residential development by Aspen Group in Aspen Vision City. Strategically located next to the 25-acre lush greeneries of Central Park, just a stone’s throw away from IKEA Store. It is only a mere minutes drive from Penang Second Bridge, about 5 minutes away from North South Expressway interchange.

This development comprises a total of 356 landed properties, to be developed in 3 phases. Featuring a mix of terrace, semi-detached and limited bungalow units with an indicative price starting from RM750,000 onwards.

Phase 1

• 2-storey terrace (170 units)

Phase 2

• 2.5-storey terrace (61 units)

Phase 3

• 2.5-storey terrace (111 units)
• 2.5-storey semi-detached (4 units)
• 3-storey zero-lot bungalow (6 units)

Project Name : Viluxe 
Location : Batu Kawan, Penang
Property Type: Gated & guarded residential
Total Units: 356
Indicative Price: RM750,000 onwards
Developer: Aspen Group

Location Map:

The Penang government does not have any intention to table an enactment to limit foreigners from buying pre-war buildings in its world heritage zone, state executive councillor Jagdeep Singh Deo said today.

The housing development and town and country planning committee chairman added that it is not possible to table such an act.

“The building owners have the right to sell their properties and this proposed act contradicts the Federal Constitution,” he replied to an oral question by fellow DAP lawmaker Teh Lai Heng in the state legislative assembly here.

The Komtar assemblyman asked if the state government is considering tabling an enactment to stop or limit foreigners or foreign companies from buying up heritage buildings within the George Town world heritage site.

Jagdeep said the state government, through Penang Island City Council and several other agencies including George Town World Heritage Inc, is now studying the possibility of preparing a Rent Regulation Enactment for the heritage zone.

“This study will enable the state government to collate the latest information that included the ownership of heritage buildings according to nationalities.

“The study is to analyse the current situation of the heritage buildings at the heritage site so that the state government can take appropriate steps based on it,” said the Datuk Keramat assemblyman.

Teh then proposed for the state government to consider tabling an enactment to increase the minimum property price for foreign purchase of properties in the heritage zone to RM200 million.

“The current minimum property price for foreigners is RM2 million so I propose that the state consider increasing it to RM200 million only for the heritage zone,” he said.

Jagdeep said the current state government’s housing policy imposed a minimum price of RM2 million for foreign purchases of properties on the island and RM1 million on the mainland.

He said Teh’s proposal is one of the ways to limit foreign purchases in the heritage zone but the minimum price of RM200 million will need to be carefully considered.

“As for the original question on restricting purchases by foreigners, this is under the National Land Code and out of the state’s jurisdiction so we will need to work with the federal government to see if the National Land Code could be amended to limit foreign purchases,” he said.

Earlier, Jagdeep said there have been numerous reports on the alarming increase in rental rates within the heritage zone due to foreign purchases but the state needed to complete its studies first before taking the next step.

“The Penang chief minister and state government proposed the Rent Regulation Enactment because of these reports but we needed to conduct a thorough study to get the actual facts of how many properties are actually bought up by foreigners,” he said.

On the legal aspect, Jagdeep said the enactment can be legally tabled by the state but the final decision on whether to table it or not depends on the results of the study.

Muhammad Farid Saad (Barisan Nasional-Pulau Betong) then asked why the state did not make use of its Penang Heritage Act to regulate the rent and foreign purchases of buildings in the heritage zone.

In reply, Jagdeep said the heritage act was only to regulate the management of the heritage zone but could not be used to regulate rent or property purchase within the site.

Read More: TheMalayMailOnline.com