E&OPD has been carving a reputation for itself in the Pearl of the Orient since embarking on the freehold Seri Tanjung Pinang (STP) seafront development in October 2005.
The 980-acre township being undertaken on reclaimed land was master-planned by the internation-ally-renowned architectural firm of Wimberly Allison Tong & Goo.
While the scale of the development alone is enough to make the island's population and real estate fraternity sit up, it is the new urbanism concept of providing walkable residential neighbourhoods set amidst landscaped parks, boulevards and seafront esplanades that is setting the company apart from the rest.
In the 240-acre first phase, terrace, semi-detached and detached houses will be developed alongside condominiums and serviced apartments in gated and guarded precincts.
Of these, 90 per cent of the 166 terraces called Ariza have been sold despite prices starting from RM775,000 for intermediate units and RM980,00 for the corners, while the 38 plots of bungalow land have found buyers willing to pay between RM170psf and RM250psf.
Judging from the over-whelming response, STP is envisaged to set the pace for the island's upmarket residential prices as well as design and quality standards for years to come.
SP Setia Bhd (SPS)
Another developer carving a name for itself on Penang island is SPS with its 112.6-acre Setia Pearl island gated residential development.
Situated in the southern segment of the island and about 2km from the Penang international Airport, this RM800 million venture has also been designed for the upper income market segment, with three-storey, five-bedroom terrace houses tagged from RM600,000.
To support the pricing, SPS is infusing the development with lifestyle amenities such as a clubhouse (complete with swimming pool, sauna, squash court and ballroom) and residential precinct names such as the isle of life, the isle of Aroma and the isle of Palm.
Although new to Penang, SPS has a track record of introducing innovative concepts to its developments in the Klang Valley and Johor Baru.
In the south, the company is riding on the resounding response to its 1,054-acre Bukit indah and 452-acre Bukit indah 2 in Gelang Patah; 889-acre Setia indah in the Tebrau Corridor; the 740-acre Setia Tropika located off the Kempas interchange; and the recently unveiled RM2 billion Setia Eco Gardens township in Pulai.
The latter is a 949-acre venture that is expected to raise the bar for residential developments in the state and showcase concepts johoreans have never seen before. Among them:Eco-themes where lush garden oases, water parks, boardwalks and resort-like facilities for fishing and canoeing will prevail.