E&O in talks with banks to raise RM1.5 bil for Andaman Island project
Earlier this year, the group raised RM255.
Earlier this year, the group raised RM255.
The job scope covers the construction of main building works for, amongst others, a 45-storey structure comprising a 38-storey serviced apartment block of 380 units — to be completed within 35 months from Jan 18, 2024.
E&O executive chairman Datuk Tee Eng Ho: Whichever condominium without Airbnb, their property price goes up, rental even much better.
Every building on Andaman Island has been designed to meet Green Building Certification standards, the statement read, and E&O is working closely with its architects and builders to minimise the use of new raw materials.
In a bourse filing on Wednesday (Aug 23), the premier lifestyle property developer said revenue jumped by 11.
Quarterly net profit edged up 0.
This involves about 1,260 acres of the total 2,300 acres to be reclaimed for the island known as Island A, which the project developer Silicon Island Development Sdn Bhd — the 70:30 joint venture between Gamuda and the Penang state government — had previously estimated would cost RM6 billion in total to reclaim, with the cost of common infrastructure expected to be RM2.
The lower earnings were also due to the higher selling and marketing expenses of RM4.
E&O managing director Kok Tuck Cheong: “We are honoured to receive recognition from Rehda for our Andaman Island Phase 1, The Meg and Arica.
“Gamuda claims that over 93% of public comments on the EIA favoured the reclamation project.