Eco World to launch first Penang project next month
Eco World Development Group Bhd (EcoWorld) is expected to launch its first project in Penang, Eco Terraces condominium, in mid-June.
“Apart from being the first project for the group in the northern region, we believe Eco Terraces will also set new standards in high-rise living here,” EcoWorld president and CEO Datuk Chang Kim Wah said in a statement.
Eco Terraces will be located on Jalan Paya Terubong. The project should be about a 25-minute drive from Georgetown and approximately 15 minutes’ drive from the First Penang Bridge and Queensbay Mall. Eco Terraces is scheduled for completion in the second quarter of 2019 (2Q2019).
“For Eco Terraces, we have already started improving the infrastructure by upgrading part of Jalan Paya Terubong leading into the development,” said Chang.
The 12.79-acre freehold project offers 333 units in a 33-storey block. The units have a built-up area ranging from 1,095 sq ft to 2,008 sq ft. They come in layouts of 3-bedroom and 2-bathroom units and 4-bedroom and 3-bathroom units. Indicative prices are RM846 psf. Maintenance fee is estimated at 36 sen psf.
The gated condominium offers facilities such as a multipurpose hall, karaoke room, golf simulation room, indoor badminton or tennis courts, barbeque area, swimming and wading pool, gym, aqua gym, jogging and cycling tracks.
Chang added that the developer’s show gallery — EcoWorld Gallery @ Macalister along Jalan Anson — has a “3D walkthrough” experience of Eco Terraces to help visitors to understand what the condominium has to offer. The 3D walkthrough will run for a month from May 22.
Eco World said it has accumulated 5,245 acres of landbank, with RM65 billion worth of gross development value remaining.
Through the group’s associates, there are developments lined up for launch this year in Leamouth Peninsula, London (London City Island, GDV: £617 million [RM3.45 million]) and Parramatta, Sydney (Weat Village, GDV: A$285 million [RM802,641]). The former will be launched in Malaysia this weekend while the latter will be launched in 2H2015.
Source: TheEdgeProperty.com
Impressive… the design and $
850psf for Paya Terubong… who said the price is coming down?
Go for a look and experience it with 850psf at paya terubong…
They are the market spoiler for being so bloody greedy. 846psf in Paya Terubong area, wtf? I cant wait for it to complete and see how many units will be put on sale by then. 1095sft LUXURY condo for 1 million ++, any takers?
Hope that the project will bring up the price for surrounding projects.
A wow for them, the gallery at site literally change the whole entire surrounding. I’m impressed and buying
@wow
Yes, they have to do this 3D simulator to trigger buyers’ imagination. Same concept goes for show units, all fully renovated and very nicely furnished, so that potential buyers will start to fantasize about living in their “luxurious” dream home.
BUT, in the end, you cannot escape from reality. The reality is, the location SUCKS! Since the last property boom, buyers have learnt a lot of lesson about the importance of location. Don’t forget the valuable lessons learnt my dear friends.
u will find good neighbor but bad surrounding environment.
With this pricing, there are so much options. EcoWorld is just a company, replacement is inevitable one day.
I am ecoworld supporter and i found their initial launch in Eco Majestic reasonably priced. But i have to say their Eco Terrace is priced really way too high for that location.
15 minutes drive from Queensbay Mall? Are they kidding?
the price it that high probably because of the concept? 12 acres with a block 333 units only, this one i have to respect ecoworld, i believe nobody are dare to do that as it is a big sacrifice. 1st and only one in penang? woohuu
Whatevwr la, if you see a good future at paya terubong just buy it la or just leave it. High risk high return ma, same goes as insurance investmwnt plan. Lol
@wahahaaaaa
Looks like high risk negative return to me.. lol.
yes,..well said…
and for those that want high risk high returns…just go Genting-lah….very fast can see “returns” already…. no need to wait for construction, completion and holding period to clear the RPGT period.
I won’t be buying this because the price does not match the location. If it had been a luxury columbarium, I probably would have bought 10 or 20 lots. Too bad, wrong product, wrong pricing.
I have no issue with the location but the pricing? They are certainly out of their mind. They thought Paya Terubong can provide sea view LOL. EcoWorld fan boys, whats your thought?
Selling between 700k-900k price range most local people cannot afford. Might as well go above 1 million and sell to foreigner.
Kindly send me the project info in Penang. Keen investor.