The construction of Le Meridien Penang Airport and Rackson’s Serviced Apartment near Penang International Airport (PIA) marks a significant milestone in Penang’s journey towards becoming a global hub for business, tourism, and innovation. These projects, part of the visionary Penang Gateway development, carry a gross development value of RM1.5 billion.

Speaking at the second groundbreaking ceremony at Jalan Mahkamah, Bayan Lepas, Chief Minister Chow Kon Yeow highlighted the transformative potential of these initiatives. The construction phase alone is projected to create over 1,000 jobs, with an additional 300 direct employment opportunities once the projects become operational.

Le Meridien Penang Airport, a five-star luxury hotel, will feature 200 rooms tailored to meet the needs of business travellers, leisure guests, and event organisers. Complementing this is the Avion Serviced Apartment, offering 608 premium residential units designed for long-term residents and expatriates.

Strategically located near Penang International Airport, the upcoming LRT airport station, and the planned Mitsui Outlet Park, these developments are set to benefit from seamless integration with Penang’s evolving transportation ecosystem. “This synergy underscores Penang’s commitment to accessibility, connectivity, and smart urban planning,” Chow noted.

Tourism remains a vital pillar of Penang’s economy, with the state’s MICE (Meetings, Incentives, Conferences, and Exhibitions) sector contributing an estimated RM1.033 billion last year. Meanwhile, Penang International Airport handled nearly 7 million passengers, underlining its role as a key gateway.

Chow emphasised that these projects will enhance Penang’s infrastructure and elevate its global standing.

Land management continues to serve as a cornerstone of Penang’s economic stability, contributing a significant 40% to 50% of the state’s annual revenue. This income is derived from land tax collections, premium payments, and transaction fees. To bolster this crucial revenue stream, the Penang government is embarking on a comprehensive digitisation and modernisation of its land management systems.

Chief Minister Chow Kon Yeow, addressing the Penang Legislative Assembly during the tabling of the 2025 state budget, announced a proposal to revise land tax rates starting January 1, 2026. Submitted to the National Land Council, the proposal also includes reclassifying certain rural lands into urban lands. This initiative follows a directive by Penang Yang di-Pertua Negeri Tun Ahmad Fuzi Abdul Razak, urging innovative strategies to enhance state revenue.

“The last land tax revision in Penang was in 1994. A dedicated task force is now reviewing 370,000 land titles to ensure a fair and balanced outcome,” Chow stated. The review, involving diverse stakeholder consultations, is expected to conclude by the end of 2025. The proposed changes aim to increase annual land tax revenue by RM50 million to RM100 million from 2026 onwards.

Chow also highlighted enhanced policies on lease renewal and ownership grants, introduced in 2023. These measures include discounts of up to 90%, benefiting 31 landowners in 2023 and 91 in 2024, with total premium reductions reaching RM170 million.

To streamline land management further, the state now allows simultaneous applications for land-use category changes or rezoning alongside lease renewals. However, these concurrent applications are contingent upon fulfilling rezoning conditions.

Through these initiatives, Penang aims to strengthen its fiscal foundation while fostering economic growth and social equity.

Andaman Island is rapidly emerging as a prestigious and innovative development, setting new standards for sustainable living in Malaysia. This 253-acre project by Eastern & Oriental Berhad (E&O) comprises three districts: Shoreline, Gurney Green, and Canalside, each designed around the pillars of sustainability, connectivity, and quality of life.

Andaman Island: A Model of Sustainable Urbanism

Located just off Gurney Drive, Andaman Island is easily accessible via two bridges that connect it to Penang Island. Its strategic location near major economic zones offers residents the convenience of a 15-minute commute to essential amenities, including shopping centres, medical facilities, and international schools. This island fully embraces the concept of a “15-minute city,” where all daily necessities are within walking distance. Pedestrian-friendly pathways, ample green spaces, and eco-friendly infrastructure make Andaman Island a model for sustainable urbanism.

Each of its three districts provides a unique living experience: Shoreline, home to The Lume, is designed for eco-conscious, sustainable living; Gurney Green will serve as a future business hub; and Canalside promises scenic, waterside living. This variety of lifestyle options makes Andaman Island a highly desirable destination for those seeking both luxury homes and a forward-thinking community.

Introducing The Lume: A new standard in luxury

The Lume is a pioneering residential condominium within Shoreline. After the success of their Quayside Condominium in Seri Tanjung Pinang, E&O continues to raise the bar for luxury living with The Lume. This exclusive development offers only 261 residences, ensuring that residents enjoy a sense of privacy and tranquillity amidst the vibrant Andaman community. With only six units per floor, The Lume offers an unparalleled level of exclusivity.

Designed with spacious layouts, The Lume caters to families and individuals seeking generous living spaces. The three- and four-bedroom units, each offering panoramic views of the ocean, hills, and city skyline, are perfect for multi-generational living. Each unit is thoughtfully planned with privacy fins that ensure seclusion from neighbours, providing a peaceful and soothing living environment.

In addition to the spacious interiors, each unit comes with three or four dedicated car parks, a rarity in modern developments, ensuring that residents have hassle-free parking. The master bedroom is designed as an oasis of privacy, separated from the other living spaces, making it an ideal retreat for families who value personal space within a shared environment.

Luxury meets sustainability

What truly sets The Lume apart from other developments is its commitment to sustainability without compromising on luxury. As part of Andaman Island, The Lume has been awarded the GreenRE Platinum Provisional Certification, a testament to its eco-friendly design and green living features. The resort-style living experience is enhanced by lush landscaped gardens and green spaces that are perfect for relaxation or recreation.

The Lume’s appeal is enhanced by its proximity to Andaman’s future business district, Gurney Green, and its closeness to Gurney Drive and Tanjung Tokong, where major shopping malls, international schools, and hospitals are located. Residents can enjoy the convenience of urban living while still being surrounded by nature. This combination of connectivity and tranquillity makes The Lume an attractive option for those looking for a modern lifestyle within a sustainable community.

The fast-selling gem in Penang

The Lume officially launched for sale at the end of July 2024, and the response has been overwhelmingly positive. By the end of September, the development had already achieved a 40% sales uptake. This strong demand reflects the growing interest in sustainable luxury living, particularly among local buyers.

The majority of purchasers are Malaysian, reflecting the strong local demand for high-end residential properties. However, The Lume also appeals to international buyers, with a small but significant portion of units being purchased by buyers from Singapore, Hong Kong, Taiwan, and other countries. This diverse buyer base underscores the global appeal of Penang as a desirable location for both living and investment.

Why The Lume?

The Lume offers a compelling mix of features that make it an ideal home. First and foremost, the development’s spacious layouts are perfect for those looking to upgrade to larger living spaces or downsize from landed properties without sacrificing comfort. The thoughtful design of the units, including privacy features and scenic views, adds to the allure of the property.

The convenience of The Lume’s location, near international schools, shopping malls, and healthcare facilities, ensures that residents have everything they need within easy reach. Moreover, the commitment to sustainable living, from eco-friendly building materials to green communal spaces, appeals to those who prioritize environmental consciousness.

Buyers can have full confidence in E&O’s longstanding reputation for delivering high-quality developments. Known for their attention to detail, innovation, and commitment to excellence, E&O has consistently set the benchmark in luxury residential projects, as seen in their successful developments at Seri Tanjung Pinang in Penang. The Lume continues this legacy, offering not only superior craftsmanship but also a thoughtfully designed living experience that prioritizes both comfort and sustainability. With E&O at the helm, buyers can trust that The Lume represents a sound investment that promises lasting value and an elevated lifestyle.

* Find out more about The Lume @ Andaman Island *

About Alton Skyvillas

Alton Skyvillas is a 29-storey condominium by Dutamas Permai Sdn. Bhd. (Airmas Group), is strategically located on a 1.3-acre site along Jalan Jelutong, adjacent to the newly completed Artis 3 condominium. Just 10 minutes from Penang Bridge and 4km from KOMTAR, it is surrounded by prominent communities like The H2O Condominium, Straits Garden Suite, Grace Residence, and Urban Suites. The development offers 161 residential units ranging from 1,132 sq.ft. to 2,672 sq.ft., with a 7-level car parking podium.

Find out more about Alton Skyvillas

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.