The Tamarind at Seri Tanjung Pinang 94% sold

PENANG (Oct 5): The Tamarind executive apartments at Seri Tanjung Pinang (STP), Penang are 94% sold with a balance of 104 units as at Sept 13, Eastern and Oriental Bhd head of sales and marketing (Penang) Christina Lau told TheEdgeProperty.com.

The 6.9-acre freehold project which was launched at the end of last year comprises 552 units per block, making it a total of 1,104 units.

There are a three different types of layouts — Type A at 1,372 sq ft, Type B at 1,241 sq ft and Type C at 1,047 sq ft.

“Most of the available units are the Type A units with a built-up of 1,372 sq ft. Prices for these units start from RM1 million,” said Lau.

"The units which are currently still available are the ones with mountain views. These units will have the afternoon sun but we have provided low-emissivity glass to shield off almost 70% of the heat," Lau added. 

The estimated total gross development value of The Tamarind is RM948 million. The maintenance fee is estimated to be at 25 sens psf per month.

“The Tamarind provides a unique opportunity for young executives and families to own a property that is competitively priced within Seri Tanjung Pinang, which is a world-class waterfront community that has become one of the most desired addresses in Penang,” said Lau.

“There are also buyers who are retirees who are looking for easy access to the abundance of amenities in and around STP,” she added.

"When we first launched [The Tamarind], we took the market by storm because this product was for the executives. Most of our projects here are catered towards business owners and established professionals, so for the executives who wanted to own a piece of property here, this was their chance to be able to own it," Lau explained. 

Lau noted that The Tamarind has excellent connectivity and has close proximity to various amenities in the vicinity including Straits Quay, the very first seafront retail marina in Penang which is only several hundred metres away from The Tamarind.

“Backed by the encouraging response to our earlier launch of The Tamarind, we believe that discerning buyers will continue to recognise a unique value proposition and appreciate the future value for the development,” Lau concluded.

The development is targeted to be completed by May 2019.

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