Malaysia-listed premier lifestyle property developer Eastern & Oriental Berhad (E&O) today announced the official launch of Andaman at Quayside, luxurious Andaman Sea-facing condominiums touted to be the finest in Penang Island.
Andaman at Quayside is sited on 21-acres of the final, most-prime plot on E&O’s acclaimed world-class masterplanned development, Seri Tanjung Pinang. Conceptualised to celebrate the best facets of island living in Penang, 75% of all suites are meticulously aligned to provide unobstructed views of the sea and the famous Gurney Drive.
Facilities like a 4.5-acre signature waterpark and clubhouse, surrounded by an additional 6.9-acres of tropical gardens along with a world-class retail enclave offers supreme value to lifestyle and entertainment experiences by-the-sea.
“The Andaman at Quayside sits within Penang Island’s largest seafront development and most sought-after residential address. It is a stone’s throw from clusters of bungalows and villas, as well as a seafront retail precinct, marina and multi-level entertainment complex,” said Eric Chan, Deputy Managing Director of E&O.
The property is set to draw investor demand beyond Malaysia; attracting those looking to invest in a luxurious seafront property with attractive pricing and higher rental yields.
Units range from a spacious 1,128 square feet (sq ft) for a 1-bedroom studio suite priced from RM1.416 million (approx. SGD587,217) to the expansive 4,755 sq ft penthouses. There are also 1+1, 2 and 3-bedroom suites at 1,188 sq ft, 2,047 and 2,776 sq ft respectively. Offering savvy overseas buyers and investors more reason to place their money, the price of an average unit works out to about RM1,033 psf (approx. SGD428 psf), an unattainable value for a similar-sized condominium in any neighbouring seafront development.
Apart from competitive pricing, the project’s interest absorption scheme offers another incentive for investors seeking to get a slice of vibrant Penang’s property pie with just a 10% initial down payment. Availability of up to 90% financing (subject to eligibility) makes it even more attractive, while rental yield is expected to be around 5% per annum.
“A project of this calibre represents a blue-chip investment in good as well as volatile times. Affordability, investor-friendly policies, and the opportunity to own a freehold property is also what makes it a viable investment,” said Chan.
Designed by GDP Architects, one of Malaysia’s foremost and multiple-award winning architectural firms, the Andaman Series boasts eight meticulously planned layouts, offering a range of living choices to match each and everyone’s personal character. From expansive penthouse suites with tension-edged lap pools draped over the horizon, to spacious 3-bedroom suites for larger families, to chic 1-bedroom units designed for the modern jet setter. Each one, the perfect setting from which to claim one’s private piece of the Andaman Sea.
The much-awaited Andaman at Quayside is now open for sale with show units at Seri Tanjung Pinang, Penang.
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