About Central Residence

A residential project in Jelutong, located on 1.2 acres of land along Lorong Madrasah, directly opposite Jelutong Palace apartment. Just 5 minutes from the Penang Bridge and a short drive from the Jalan Ahmad Nor/Tun Dr. Lim Chong Eu interchange, this 35-storey condominium offers 298 residential units and includes a 10-level car parking podium.

*Photo taken in Dec 2024

Find out more about Central Residence

Eastern & Oriental Berhad (E&O), Malaysia’s premier lifestyle developer, revealed its latest waterfront residence, Maris. Located within the vibrant Gurney Green district on Andaman Island, Maris epitomises marina-inspired living and will offer residents a unique blend of urban convenience and tranquil seafront elegance.

With a Gross Development Value (GDV) close to RM 700 million, Maris is freehold and offers 516 furnished serviced residences within a 49-storey tower.

Homes are designed to cater to diverse lifestyles, featuring sizes ranging from 979 square feet for the two-bedroom units while three-bedroom units range from 1,177 square feet to 1,356
square feet.

The furnished nature of the units ensures a hassle-free living experience, making them perfect for young families, retirees, downsizers, and those seeking both a comfortable home and
investment opportunity.

Each unit boasts practical layouts, generous natural lighting, and premium finishes, catering to discerning homeowners seeking a dynamic and distinguished lifestyle. Prices are expected to start from RM 950,000, ensuring a myriad of options.

The development also features eight waterfront shophouses, seamlessly integrating retail and residential components, allowing residents to enjoy a host of conveniences and social gatherings.

Kok Tuck Cheong, Managing Director at E&O Berhad, said, “Maris celebrates modern waterfront living, blending luxury, functionality, and sustainability. Its marina-edge concept offers a vibrant yet serene environment, where everyday essentials are just steps away. It’s more than just a home, Maris is an experience, crafted with meticulous attention to detail to enhance the quality of life for our residents.”

Among the standout features of The Maris are its curated facilities and amenities which include an infinity pool, forest park, pet park, gymnasium, and social spaces to foster community interaction.

Residents will also be able to enjoy picturesque and relaxing sea views from the sky terrace, which offers swinging daybeds and outdoor dining spaces, set against the iconic Gurney Drive and Georgetown skyline.

The launch of Maris also introduces a vibrant waterfront promenade. Lined with cafes, restaurants, and boutique retail outlets, it offers both residents and visitors a variety of lifestyle and
leisure experiences.

Kok said, “As the first project to activate this promenade, Maris transforms the area into an open, welcoming space that fosters social interaction and communal living. Designed with walkability in mind, the promenade ensures easy access to amenities while encouraging an active, outdoor lifestyle. It creates an inviting environment for people to gather, connect, and enjoy shared experiences.”

Continuing E&O Berhad’s commitment to sustainability, Maris also meets Platinum GreenRE standards, which incorporates environmentally conscious and quality materials alongside best practices to ensure energy efficiency and minimal impact on the surrounding ecosystem. This will enhance both the living experience and the sustainability of the development.
Located on Andaman Island, a meticulously planned 760-acre township, The Maris benefits from the ’15-minute city’ urbanism concept, which ensures residents have convenient access to shopping, dining, wellness, and recreational spaces within a short walk or bike ride.

The development’s strategic location is further enhanced by its connectivity to Gurney Drive via a dedicated 8-lane bridge. This bridge, set to open later this year, will significantly improve access to Gurney Drive, offering residents seamless travel between the two locations and enhancing the overall connectivity to the city’s core.

Kok added that Maris builds on the momentum of E&O’s highly successful launches on Andaman Island, including The Meg, Arica, and initial phases of landed homes Fera and Senna, all of which are fully sold out. The Lume, launched last year, also saw encouraging market responses, reflecting strong confidence in E&O’s developments.

Kok said, “Maris, alongside our current and future developments, embodies E&O’s enduring commitment to craft developments that blend elegance, functionality, and sustainability.”

Show units for Maris are now open for viewing on Andaman and in conjunction with the coming Chinese New Year celebrations, E&O will be hosting exciting activities on February 1 between 11am to 6pm. Visitors will be able to look forward to Lion Dances, workshops, a Chinese Orchestra performance and a wide selection of food and beverages.

Kings Galleria at RU Square, Raja Uda is designed to become more desirable by offering convenience to the neighbourhood. It is a commercial development that includes individual titles. Kings Galleria showcases a unique, modern, and heritage design concept with a total of 16 units of semi-detached shop lots, which emphasize the closeness of building occupants to nature by using raw building materials such as bare brick walls and steel structures. It incorporates biophilic design elements like natural lighting, ventilation, and natural landscape features to create a healthier environment for all.;

Mapping the Future with Heritage in Mind

Located in the mature town of Raja Uda, Butterworth is poised to become the focal point of continuous growth in the surrounding area. It is interconnected with the existing mature neighbourhoods such as Bagan Ajam, Mak Mandin, Permatang Pauh, as well as Seberang Jaya and Bukit Mertajam in the Seberang Perai Utara region. A well-established network of highways ensures excellent accessibility to Sungai Petani, Kedah ; North-South Highway to Ipoh, Perak, and Penang 1st & 2nd Bridges to Penang Island centre as well as other prominent locations within the North Peninsular. Considered as a center stage of people, business and lifestyle, Kings Galleria is an ideal place filled with great potential, large catchments, ample activities.

The 3-storey Kings Galleria has a double-volume space concept with two different layout plans: Type A (Intermediate) and Type B (Corner). The price ranges from RM3,888,000 onwards.

Sales Gallery opens from 9 am – 6 pm (Monday to Saturday) and 11am – 4pm (Sunday & Public Holiday)
Call Jayamas Property at 016-291 6133 for more details.

Jayamas Property
Main Office:
11, Jalan Casa Residensi,
Pusat Perniagaan Casa Residensi,
14000 Bukit Mertajam,
Pulau Pinang.

Sunway Property, the property arm of Sunway Group, has announced Chung Soo Kiong as its new Managing Director.

Chung, who succeeds Datin Paduka Sarena Cheah, brings more than 20 years of extensive experience in property development and construction businesses within Sunway Group.

Chung most recently served as the Managing Director of Sunway Property’s International division, where he spearheaded regional ventures and key projects in Singapore, China, and other markets.

With his new portfolio as Managing Director of Sunway Property, Chung will now lead the overall property division, encompassing both domestic and international operations.

In his expanded role, Chung will be supported by Chong Sau Min, Chief Executive Officer of Sunway Property (Central & Northern Region) and Sunway Property & Facilities Management (SPFM), and Gerard Soosay, Chief Executive Officer of Sunway City Iskandar Puteri.

Chung said, “Building on the strong foundation laid by Datin Paduka Sarena and the incredible team, I look forward to delivering innovative, sustainable solutions that not only meet but exceed the expectations of our communities and stakeholders.”

Cheah, who formerly held this position, assumes the new role of Executive Deputy Chair of Sunway Group on January 2, 2025.

Cheah will focus on expanding the Group’s international footprint and continue overseeing the development of Sunway City Iskandar Puteri into a world-class township that attracts global investments and promotes regional tourism.

Reflecting on her new role, Cheah said, “It has been a privilege to lead Sunway Property and contribute to its remarkable journey. I am confident that under Chung’s leadership, the division will reach even greater heights. As I take on this new role, I remain steadfast in advancing Sunway’s vision of building a sustainable future for generations to come.”

The Group also welcomed Datuk Mohd Anuar Bin Taib as Deputy President of Sunway Group on the same day. A seasoned corporate leader, Anuar has served as an independent non-executive director on the board of Sunway Berhad since July 2023. In his new role, he will oversee core business divisions, including Sunway Property, Sunway Malls, and Sunway Healthcare, among others.

Bank Negara Malaysia (BNM) has raised concerns that overly lenient housing loan policies could undermine affordability and destabilize the property market. The central bank highlighted that relaxed financing conditions, such as extended loan tenures and speculative buying driven by easy credit access, significantly contributed to housing price surges between 2012 and 2014.

During this period, house prices increased at an average annual rate of 10.1%, outpacing income growth and making homeownership challenging for many Malaysians. Additionally, household debt levels and speculative activity in the housing market spiked, with many borrowers taking on multiple housing loans.

In response, BNM implemented measures to curb speculative buying and temper the housing market. Key regulations included a 70% loan-to-value (LTV) cap for borrowers with more than two outstanding housing loans and a maximum loan tenure of 35 years. These measures have successfully moderated house price growth to a more sustainable average of 5.3% between 2015 and 2019.

BNM emphasized that while extending loan tenures may reduce monthly repayments and make houses appear more affordable in the short term, it could lead to higher overall financing costs and increase household indebtedness. Prolonged loan periods also risk further fuelling property price inflation, making housing even less accessible for future generations.

The central bank encourages borrowers to carefully evaluate financing options and choose loan terms that align with their financial capacities. While financing conditions influence affordability, BNM noted that structural factors such as inadequate housing supply, mismatched pricing relative to household incomes, and stagnant wage growth play more significant roles in housing price trends.

Government initiatives aimed at increasing household incomes, improving housing supply, and developing a robust rental market are critical measures to address Malaysia’s housing affordability crisis holistically.

Datuk Chang Kim Loong, honorary secretary-general of the House Buyers Association (HBA), cautioned against high loan coverage schemes, such as 120% loans, which might seem helpful but could burden buyers with higher repayments over time. He advised prospective buyers to exercise caution and conduct thorough due diligence before proceeding with such arrangements, emphasizing that there is no “free lunch” and that buyers will ultimately pay significantly more over the loan’s tenure.

Chang reminded house buyers that the cost of purchasing a home extends beyond the 10% down payment, urging them to prepare an additional 10% to cover legal fees, stamp duty, and other ancillary costs. He also advised against taking loans for renovations and electrical applications, suggesting that such expenditures should remain within one’s budget to avoid additional financial burdens.

He stressed that offering higher loans does not solve the affordability issue and only encourages buyers to take on additional debt, exacerbating their financial burden in the long run. Chang advocated for reducing house prices to address affordability, rather than extending loan tenures or increasing loan amounts. He suggested that individuals without the initial down payment should consider renting, which carries less risk compared to committing to a long-term housing loan.

Chang warned that higher loan offerings could lead to increased house prices, as buyers who previously could not afford such homes might now qualify for larger loans. However, he cautioned that qualifying for a loan does not guarantee the ability to maintain repayments while sustaining a reasonable quality of life. He added that individuals opting for high loan schemes often lack an understanding of financial management and may not be responsible borrowers.

To address housing affordability, Chang recommended that the government provide financial incentives to developers to build more affordable homes, priced between RM150,000 and RM300,000, and reduce red tape and the cost of doing business to facilitate the construction of such housing.