GEORGE TOWN: Eastern & Oriental Berhad’s (E&O) RM60 billion Andaman Island township is set to be home to an estimated population of 16,000 people by 2030.
“The premier lifestyle property developer, which recently unveiled the masterplan for its reclaimed island project off Tanjung Tokong, plans to build approximately 5,000 homes on Andaman Island by 2030.
Advertisement
.gif)
According to E&O Group managing director Kok Tuck Cheong, Andaman Island is developed to meet rising demands for high-end properties.
He said the island aimed to elevate Penang’s role as an economic hub by creating new employment opportunities, attracting investment and contributing to local tourism.
The Andaman Island masterplan features three distinctive districts that are interconnected:
- Shoreline — nature-integrated living area
- Gurney Green — a commercial hub
- Canalside — a scenic waterfront with integrated amenities
The island, covering 760 acres (307 hectares), will be developed in two phases and has currently launched four residential and serviced apartment projects.
Advertisement
.png)
The projects, launched at a gross development value of RM1.359 billion, are:
- The Meg (Serviced Apartments) – 1020 Units
- Arica (Serviced Apartments) – 380 units
- Senna and Fera (Landed) — 137 units (Phase 1 and 2)
- The Lume (Condominium) — 261 units
The Meg, Arica, Senna and Fera were all sold out while The Lume, a premium condominium development with prices starting RM2.2 million per unit, has reached over 42 per cent in sales after its launch in August this year.
Advertisement
_(1).png)
It is expected that E&O will introduce two waterfront condominiums and a new phase of luxury landed project in 2025.
In terms of the environment, E&O has pledged that all future projects on Andaman Island will aspire to meet GreenRE Gold or Platinum standards.
The masterplan for the island and all recent projects have achieved GreenRE Platinum certification through eco-conscious practices like rainwater harvesting, renewable energy sources and extensive green spaces.
.png)
