Eastern & Oriental Berhad (E&O), Malaysia’s premier lifestyle property developer, yesterday announced its masterplan for Andaman Island, an ambitious, first-of-its-kind development in Malaysia. With an estimated Gross Development Value (GDV) of RM 60 billion, this masterplan reflects over 30 years of vision to create a vibrant, eco-conscious island township that harmonises Penang’s heritage with future-ready urban design.

Designed to address evolving market demands, Andaman Island aligns closely with Penang’s sustainability and economic growth objectives. As Penang solidifies its position as a key secondary city in Malaysia, demand for premium residential spaces and sustainable communities is accelerating.

According to a recent National Property Information Centre (NAPIC) report “Property Market Q1 2024 Snapshots”, in the first quarter of 2024 alone, Penang recorded a 33.4% increase in commercial property transactions and a 14.3% rise in industrial property activity, driven by the state’s economic expansion in high-value sectors such as semiconductors and technology.

High-end property prices in Penang have also seen a significant increase, rising by 7% to 10% in 2024 from the previous year, reflecting steady demand among both local and international buyers.

Kok Tuck Cheong, Managing Director of E&O Group, said, “E&O’s Andaman Island is strategically positioned to meet this demand, offering premium living spaces within a holistic urban environment that balances accessibility, sustainability, and quality of life.

“It also serves as a cornerstone of E&O’s long-term growth strategy, representing the Group’s commitment to international standards of eco-conscious developments”, he said.

The Andaman Island masterplan, is a blueprint for sustainable, community-driven living, advancing beyond traditional development models to reimagine island living.

Envisioned as an innovative 760-acre community guided by the principles of a “15-minute city”, the concept ensures that residents have convenient access to shopping, dining, wellness, and recreational spaces within a short walk or bike ride, promoting a lifestyle emphasising balance, connectivity, and convenience.

Kok added that Andaman Island also aims to elevate Penang’s role as an economic hub by creating new employment opportunities, attracting investment, and contributing to local tourism, directly supporting the Penang2030 vision of a balanced, inclusive, and sustainable economy.

Central to the Andaman Island masterplan are three distinctive districts: Shoreline, Gurney Green, and Canalside, each offering unique lifestyle experiences. Shoreline combines tranquil, nature-integrated living; Gurney Green serves as a lively commercial hub; and Canalside integrates community-oriented amenities with scenic waterfront access. Interconnected throughout, these districts offer residents a seamless, well-rounded living experience.

Kok added, “E&O has always aimed to create developments that elevate life at every address, and Andaman Island is a true embodiment of this vision. We see it as both a tribute to Penang’s unique heritage and a forward-looking model of sustainable, sophisticated living”.

Andaman Island serves as a cornerstone of E&O’s long-term growth strategy, representing the Group’s commitment to eco-conscious developments that appeal to both local and
international markets.

E&O also stated that all future projects on Andaman Island will aspire to meet GreenRE Gold or Platinum standards, with the masterplan itself and all recent projects already achieving GreenRE Platinum certification through eco-conscious practices like rainwater harvesting, renewable energy sources, and extensive green spaces.

Response to Andaman Island has been robust, with its high-rise developments, The Meg and Arica, and its landed offerings, Phase 1 and 2 of Fera and Senna fully sold out. In total, E&O have launched projects totalling a GDV of RM 1.359 billion.

Most recently, The Lume, a premium condominium development, reached over 42% in sales after its launch in August this year, reflecting strong demand for the island’s sustainable, lifestyle-oriented environment.

With prices starting from RM 2.2 million, Kok attributed demand to The Lume as its appeal as a luxury residence that combines panoramic views of Andaman Island through its Pavilion-In-The-Sky concept, premium finishes, and eco-conscious design, catering to buyers who value both sophistication and a commitment to sustainability in an integrated community.

Kok said, “This ongoing success highlights Andaman Island’s appeal among buyers seeking a balanced, sustainable lifestyle.

“Andaman Island is more than just a property development; it is a legacy project that reflects E&O’s enduring vision,” he added.

It is expected that E&O will introduce two waterfront condominiums and new phase of luxury landed project in 2025.

“Our approach to community building and sustainability ensures that Andaman Island not only remains a thriving, relevant community but also serves as a benchmark for future responsible developments in Malaysia,” Kok said.