[photopress:property_penang1_1.jpg,full,alignright]Seri Tanjung Pinang is on Malaysia’s west coast. The development on Penang island is still in its early stages but already offers a blend of landscaped parks, boulevards, seafront esplanades and a range of high-end homes. It is also has commercial and retail precincts.
The 240-acre first phase of Seri Tanjung Pinang — which, once fully completed in 2012 — will even feature a marina.
[photopress:property_penang2_1.jpg,full,alignleft]In each case E&O Property Development Berhad is looking to set new standards for luxury real estate in Malaysia.
K.C. Chong, E&O’s marketing and sales director, said ‘In the last ten years, interest in Malaysian property has taken off quite well. We have actually sold almost everything we have launched principally because we own waterfront developments right next to the city limits which are very attractive. Seri Tanjung Pinang has been particularly attractive to foreigners wanting to settle in this part of Asia.’
[photopress:property_penang3_1_2.jpg,full,alignright]The company has relied on growing Asian wealth as the bedrock of its recent success. With this in mind, China is viewed as an increasingly attractive target market.
K.C. Chong, said, ‘China is at a stage where it is looking at outbound investment. We have done some studies that show the Chinese people want to buy abroad. We see some of them becoming second home owners, owning a property to just spend time there. Others will invest for capital appreciation.’
An exhibition of villas-by-the-sea will be launched at the Four Seasons Hotel Shanghai, June 28-29.
Source: Seri Tanjung Pinang