E&O set to launch Amaris Terraces By-The-Sea at Seri Tanjung Pinang

PENANG (Oct 28): 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.

This story first appeared in TheEdgeProperty.com pullout on Oct 28, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.