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Old March 25th, 2008, 05:36 PM   #41
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Old March 25th, 2008, 05:38 PM   #42
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Old March 31st, 2008, 04:12 PM   #43
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Penang goes posh
E&O launches seaside bungalows



Martinique, one of three designs of waterfront bungalows with pool fronting
the Straits of Malacca by E&O Property Development in Seri Tanjung Pinang.


FOR centuries, Penang has attracted traders, seafarers and adventurers from far and wide. Today, the island is no less popular, being one of Malaysia’s front-runners in the real estate investment market after Kuala Lumpur. It is against this backdrop of sun and surf, and city living that E&O Property Development Bhd is building the largest waterfront project there.

The company laid the foundation for the Seri Tanjung Pinang community by first selling double-storey terrace and semi-detached housing. It recently took things a notch higher by launching bungalows in three designs.

Known as Skye, Abrezza and Martinique, the bungalows are set apart from other landed developments taking place on the island because of several factors.

The first is the overall ambience. Each home design draws inspiration from the different elements around the world that make living a pleasure.

Although the look, feel and design vary, a single thread binds them and the buyers who take to them – the desire for the finer things in life.

Those who have visited the show village and the show houses would probably agree that Martinique is the most spectacular of the three.

It blends classic lines with the best of materials like nyatoh balustrades, Italian marble flooring and Burmese teak.

Fronting the Straits of Malacca and enveloped by a meandering waterfront promenade, Martinique is a double-storey white sprawling mansion reminiscent of the white and beige plantation manors of the Caribbean Islands.

Much thought has gone into interior decor to give ideas and options to potential buyers. There are several living areas, depending on the purpose and degree of formality of the occasion.

The guest pavilion on one wing offers breathtaking views that sweep into the lawn, sea-front promenade and the azure blue sea. Your guest will not want to leave after this by-the-sea experience.

Depending on the land size, which varies between 11,000 and 13,000 sq ft, Martinique (built-up: 9,000sq ft) begins from RM6.7mil. There are 12 units of Martinique, of which four have been opened for sale. Of these, two have been sold.

Abrezza is named after the sea breeze that winds through the halls and corridors of this triple-storey bungalow.

Elegant yet modern, with a whiff of British opulence, it offers great contrast in terms of colours and details.

There is a clearer definition of private and public spaces, family corners and visitor’s enclave. The developer has dressed up the show units with a lot of dark feature walls, door and window frames and balustrades to add colour and contrast.

No less exciting is the Skye series. Natural light from large windows, high ceilings and skylight give rise to its name. This collection is popular with young families.

Both Skye and Abrezza have built-ups exceeding 5,000sq ft and are priced from RM2.6mil onwards. Abrezza has six plus one rooms while Skye, five plus one. So it is really an offering that considers the needs of several generations, with luxurious ground floor rooms and pantries for higher floors.

E&O marketing and sales director K C Chong says the company is setting a new benchmark for lifestyle living on the island.

About 80% of Seri Tanjung buyers are from Penang, Ipoh, Sungai Petani and Kuala Lumpur.

For some of them, the houses in Seri Tanjung will be their holiday homes. The remaining 20% are foreigners, mostly Westerners.

Says Chong: “Penang is very popular with the expatriate community and those who are in the Malaysia My Second Home programme.”

He says the 240-acre phase one will keep the company busy for the next three to five years.

The second phase comprises two islands, which the company will reclaim from the sea and will be connected to the first phase.

“Because Penang is an island, land is scarce. And with burgeoning demand, it is only natural that prices move up,” he adds.

It is this scarcity of land and the growing popularity of Penang among foreigners, and local and foreign investors, that several developers other than E&O have gone into land reclamation. Among them are IJM Corp Bhd, Penang Development Corp and C P Land Sdn Bhd.

Says Chong: “The land component is different between Penang and Kuala Lumpur. Comparing a guarded development here and another in Kuala Lumpur, the land cost would be higher in Penang.

“At the end of the day, it is this single component that drives up our house prices.”

Cruising along Jalan Tanjung Tokong, which leads to Seri Tanjung, you can see the development that straddles the sun and surf of Batu Feringghi at one end and the city at the other.

When completed, it will be the newest address to join the international list of world-class waterfront communities including The Palms in Dubai, Australia’s Sovereign Islands and Sentosa Cove in Singapore.

Keys to its terraced housing were handed over to buyers in the first quarter of last year. Its first series of chic and elegant terraced houses set tongues wagging when it was launched at the end of 2005 at RM735,000, an unheard-of figure then for double-storey housing on the island.

In the secondary market today, intermediate units are going for about RM800,000 and corner units in the RM1mil region.

There are altogether about 260 units of terraced housing, 215 units of semi-detached, 48 plots of vacant bungalow land (all have been sold) and 73 units of bungalows, comprising Skye, Abrezza and Martinique.

The first phase of the master-planned development will also have 160 units of serviced suites facing a marina and seven condominium blocks.

The marina will be ready in 2009. Land reclamation works for its second phase will begin in three years.

Says Michael Geh, director of property consultancy at Raine & Home International Zaki + Partners: “In many ways, E&O has achieved new benchmark in terms of pricing, architecture and design. The company is giving us modern designs with a very cosmopolitan feel.

“We are seeing other developers following suit. SP Setia has started lush courtyard garden terraces, IJM is giving us Nautilas Bay by-the-sea terraces.

“Other developers must follow this new trend in Penang terraces if they are to keep up. Lifestyle and community housing is here to stay.”
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Old March 31st, 2008, 04:15 PM   #44
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E&O’s villas by the sea
By theSun (by Diana Chin)



PETALING JAYA: E&O Property Development Bhd has upped the ante on its flagship project of Seri Tanjung Pinang (STP) in Penang, launching 2-and 3-storey villas priced between RM2.75 million and RM7.50 million over the weekend.

According to KC Chong, Director of Marketing & Sales for E&O Property, there was a strong positive response from both locals and foreigners to the launch. “The recent opening of our Singapore sales and marketing office has attracted more Singapore-based investors and foreigners to Penang,” he told theSun.

Called Villas By-The-Sea, there are three different types — Martinique, Abrezza and Skye – stretching over 15 acres of freehold land with a total of almost 750 m of frontage facing the vast Andaman Sea and Straits of Malacca.

A total of 40 units were launched: 20 units of Skye, 16 units of Abrezza and four units of Martinique with a gross development value of about RM120 million.

The 3-storey Skye has 5+1 rooms and has a built-up of 5,283 sq ft for corner units and 5,193 sq ft for intermediate units. The villas are standalone bungalows and by intermediate units, the developer means there are two villas on each side of the unit.

The 3-storey Abrezza offers 6+1 rooms and has a built up of 5,332 sq ft, while Martinique, the largest of the three villa types, offers 9,043 sq ft in 2-storeys and has 5+1 rooms.

The Martinique villas are located by the sea, while Abrezza and Skye are located further back. The developer says the villas are designed to offer distinct spaces within the homes to cater to the diverse lifestyle needs of their occupants. Halls, rooms and corners of different sizes and characteristics are artfully planned to offer a different escape for different activities and moods.

“The unique layouts also encourage interaction between the indoors and outdoors with generous window openings, high ceilings, spacious terraces and verandahs, ,” added Chong.

The living/dining area and dry kitchen are laid with imported Italian Botticino marble while the luxurious bedrooms and guest rooms are covered with Burmese teak flooring. All rooms come with ensuite bathrooms, with the master bathroom clad in Arabescarto marble.

The Villas By-The-Sea at Seri Tanjung Pinang is a joint venture development between E&O Property with Al Salam Bank (of Bahrain) and CIMB-Mapletree Real Estate Fund 1 Sdn Bhd (a private real estate fund managed by CIMB-Mapletree Management Sdn Bhd.

Seri Tanjung Pinang features a headland and multi-island concept spanning 980 acres.

Currently, the 240-acre Phase One introduces landscaped parks, boulevards and seafront esplanades set amidst a guarded community of terraced, semi-detached and detached homes, condominiums and service apartments, as well as commercial and retail precincts surrounding a marina. In planning, Phase Two of 740 acres will see a cluster of islands emerging offshore, linked via a series of bridges.

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Old April 14th, 2008, 07:36 AM   #45
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Seri Tanjung Pinang

Gleaming white against the morning sun, or awash with the golden light of evening, houses here are tinged by scatteed blues reflected off the rippling sea.

The island of Penang, located just off the northwest coast of tropical Malaysia, is a kaleidoscope of colours and cultures.

For over two centuries, it has been a meeting point for seafarers and settlers from Europe, India, the Middle East and China.

Against this rich tapestry of history and tradition, you will find E&O Property’s development of Seri Tanjung Pinang.

This ambitious 980-acre masterplanned community, comprising a headland and multi-islands, will be the largest seafront project in Penang’s history.
Developed by the same company behind Penang’s histori E&O Hotel, Seri Tanjung Pinang is designed to rekindle Penang’s long heritage of fine living by the sea.

Sea-fronting bungalow parcels that look out to the dancing waves, spacious semi detached and terrace homes filled with sea breeze and sunlight, and apartments with sweeping views of bobbing sails at quayside.

All linked by shady boulevards, breezy boardwalks and colourful promenades.
This is Seri Tanjung Pinang on the island of Penang. For a fortunate few, this will be home.

Last edited by nazrey; April 14th, 2008 at 07:43 AM.
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Old May 3rd, 2008, 08:10 AM   #46
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E&O ACACIA Phase 1, completed









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Old May 3rd, 2008, 08:11 AM   #47
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Acacia phase 2, WIP 29/04/2008



One of the corner unit




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Old May 4th, 2008, 09:41 PM   #48
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Its a pity that it looks quite like a car centric development, or do I err with that assumption?
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Old May 5th, 2008, 06:07 AM   #49
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Quote:
Originally Posted by Slartibartfas View Post
Its a pity that it looks quite like a car centric development, or do I err with that assumption?
Why say so?
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Old May 19th, 2008, 03:17 AM   #50
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Kenanga upbeat on E&O projects
By LEONG HUNG YEE, The Star, Monday May 19, 2008


PETALING JAYA: A property downcycle in terms of slower take-up rates may affect the outlook for Eastern & Oriental Bhd (E&O).

In a research report, Kenanga Investment Bank said the regional property scene had “cooled slightly” due to local political uncertainties and the grim outlook for global economies.

“Nevertheless, we remain upbeat on E&O’s projects as they are in prime areas and can leverage on their strong branding. Additionally, the group has achieved high take-up rates for its ongoing projects, which mean earnings are secured for at least two more years,” the Kenanga report said.

The research house added that brand power was the driver of E&O’s corporate goals to create strong sustainable income in the long term.

“E&O believes that branding is critical for strong sustainable growth, especially when targeting discerning high-end home buyers,'' it said.

“The group has identified niche markets and produced high-quality innovative products at the same time to achieve high take-up rate before completions,” it added.

E&O has aggressively marketed its properties overseas and has taken advantage of “Malaysia, My Second Home” as well as other property incentives to attract foreign buyers.

The company, which is on a continual lookout for prime land in the Klang Valley, Penang and Johor, would be more cautious in acquiring land due to the soaring prices for such land.

Kenanga said the company's margins should be able to buffer it against rising material costs. It added that E&O was making a “fat enough a margin” for its property projects.

Kenanga initiated a “buy” call on E&O with a target price of RM3.54.

Standard & Poor's Equity Research (S&P) said E&O's earnings for the financial year ending March 31, 2009 would be driven by its property development arm while its hospitality and lifestyle division would provide income flow in addition to strengthening the E&O brand.

S&P said in a research report that in the longer term, E&O aspired to enjoy higher recurring income from its property investment division, which had targeted a portfolio of RM1bil worth of properties over the next five years.
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Old August 10th, 2008, 12:59 PM   #51
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THE SUITES AT WATERSIDE @ SERI TANJUNG PINANG


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Old September 2nd, 2008, 05:27 PM   #52
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A morning at the Seri Tanjung Pinang, cool breeze, sunny blue sky...



















































The Palazzo taken from UOB Bank Jalan Kelawai.


Finally done.... tired hand..
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Old November 15th, 2008, 04:09 PM   #53
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BY pen
Gurney Drive Skyline From Seri Tanjung Pinang

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Old November 19th, 2008, 03:24 AM   #54
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THE SUITES AT WATERSIDE
by pen





THE SUITES AT WATERSIDE & Skyhome Super Condo
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Old December 9th, 2008, 09:39 PM   #55
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E&O delaying launch of Penang condo project
Monday December 8, 2008 By ELAINE ANG

EASTERN & Oriental Bhd (E&O), which is in the midst of reviewing its property development launches amid the current economic slowdown, will delay the launch of the first phase of the Seri Tanjung Pinang condominiums in Penang.

The first phase, comprising four towers of seaside condominiums with one, two and three-bedroom units and with a gross development value (GDV) of about RM1bil, was to be launched during the group’s current financial year ending March 31, 2009 (FY09). But the targeted launch date has since been pushed to the third quarter of next year.

Executive director Eric Chan Kok Leong said the group was reviewing its launch strategies after monitoring the local market sentiment and global financial conditions.

“Economic slowdown is inevitable and will indeed impact bottom line, but our fundamentals remain solid.

“It is important now for the E&O group to conduct business in a more conservative mode, which includes reviewing certain development launches and proactively assessing product offerings to suit the times, such as providing smaller-sized units for greater market acceptance,” he said in an e-mail interview.

The group, however, would be forging ahead with the launch of its St Mary’s serviced apartments, targeted for the fourth quarter of FY09.

The project, sited in the heart of Kuala Lumpur’s central business district, consists of three blocks of 28-storey luxurious serviced apartments on 4.13 acres and has a GDV of RM1bil.

Chan said the project was in line with E&O’s focused business strategy of building premier properties in prime locations (10 to 15km radius of the Kuala Lumpur city centre in the Klang Valley) and which had the potential to further enhance the group’s brand reputation in the property landscape.

Nevertheless, Chan remains positive on the outlook for the country’s property sector.

“We expect the Government’s recently announced stimulus package for the property sector to have a positive impact in the long term notwithstanding the possibility of a downward pressure on demand for property caused by an expected deceleration in economic growth, employment concerns and a weak stock market performance.

“Amid this challenging environment, we anticipate that raw material prices will continue to normalise and hence ease the pressure on margins,” he said.

As for Penang, Chan said the state’s property landscape was undergoing rapid transformation aided by the population’s changing lifestyle and evolving market dynamics.

“Our positive outlook on the Penang property market is further supported by George Town’s Unesco World Heritage Site status which has rejuvenated efforts by the state government and property developers to boost the island’s position as a real-estate destination,” he said.

Although E&O’s net profit fell 96.8% to RM473,000 for the second quarter ended Sept 30 mainly due to lower contribution from the property division, an analyst with a local research house noted that the St Mary’s and Seri Tanjung Pinang condominium projects were in advanced ground/infrastructure works, implying immediate earnings recognition upon launch.

“E&O has prudently revised the timing of its new launches to meet market conditions.

“We continue to like the group for its premium branding and strong execution capabilities, which have enabled stable income stream from the Seri Tanjung Pinang project. We expect unbilled sales of RM191mil to be recognised over the next two years,” the analyst said.

Seri Tanjung Pinang, spanning over 980 acres, launched its first properties – in the form of Acacia Courtyard Terraces – in October 2005.

This was followed by the Avalon semi-detached homes in June 2006. Other phases include the Acacia semi-detached homes, some bungalow plots, Waterside serviced apartments and the Sea Villas detached homes.
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Old January 27th, 2009, 03:41 PM   #56
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by Phillage
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Old March 11th, 2009, 03:57 PM   #57
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Quote:
Originally Posted by nazrey View Post
BY pen
Gurney Drive Skyline From Seri Tanjung Pinang

Are those people swimming there????? Wat the......
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Old March 25th, 2009, 04:49 PM   #58
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Tesco

Anyone know the latest news for Tesco in Sri Tanjung Pinang?
Is Tesco project still on over there? When?
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Old March 29th, 2009, 08:51 AM   #59
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Originally Posted by BKY View Post
Anyone know the latest news for Tesco in Sri Tanjung Pinang?
Is Tesco project still on over there? When?
by venycal

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Old March 30th, 2009, 02:14 PM   #60
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In less than three years, Eastern and Oriental Property Development Bhd (E&OPD) has sold RM600 million worth of properties at its Seri Tanjung Pinang (STP) seafront development in Penang Island.

muebles zaragoza | tiendas muebles zaragoza | venta muebles zaragoza | muebles diseño zaragoza

Last edited by altuzarra27; June 10th, 2009 at 08:20 PM.
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