Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Tuesday, February 9, 2010

E&O secures 50% sale from initial launch in Penang project

GEORGE TOWN: EASTERN & ORIENTAL BHD (E&O) has sold 50% of the units it put up for sale from the first block of the RM1.8 billion Quayside seafront luxury condominiums that was officially launched last Sunday.

The company had a soft launch of the first block, which comprises 298 units priced between RM765,000 for a one-bedroom unit to RM4.3 million for a penthouse unit, a month ago. Some 30% of the units were secured by interested buyers before last Sunday's official launch.

E&O had only expected to reach the 50% sales mark two months from the official launch of the first block. The RM1.8 billion development consists of seven blocks of condominiums, five of which are high-rise with 26 storeys and 298 units per block while two are low-rise with seven-storey blocks of 51 units each.

"We are well within our target and we expect interest and sales momentum to be stronger over the next two weeks, straddling the Chinese New Year holidays," said E&O executive director Eric Chan.

The project, which spans 21 acres (8.4ha) of prime seafront land is located within the Seri Tanjung Pinang development and positioned as an elite waterfront community like Australia's Sovereign Islands and Sentosa Cove in Singapore.

They offer a 270-degree view of the Andaman Sea, Gurney Drive and Batu Ferringhi beaches, with 60% of the units facing the sea and the rest hill and gardens.

The gated community featuring resort-style living offers buyers seven different design types and sizes, including the penthouse unit with a built-up area of 7,159 sq ft which comes with a private swimming pool.

The first block will be completed by 2013, while the entire Quayside project is expected to be completed within seven to 10 years.

By The EDGE Malaysia

No comments: