Eco World Development Group Bhd is targeting to launch the first phase of landed terraced homes at its Eco Horizon and Eco Sun complementary township developments in Batu Kawan, Penang sometime in 2H2017, Eco World Penang general manager Khoo Teck Chong told TheEdgeProperty.com.
The 300-acre Eco Horizon and 74.5-acre Eco Sun have a combined gross development value (GDV) of more than RM7 billion to be developed over the next 10 years.
Eco Horizon will be divided into four residential precincts and one commercial precinct.
“For Eco Horizon, we are allocating over 230 acres of land for the residential component itself, while the remaining 70 acres will be for a commercial precinct. We are looking to launch the commercial precinct four to five years from now,” said Khoo.
“We will launch the terraced houses first, then maybe we will move on to other types such as the semi-dees. We always believe in bringing in the residential component first before the commercial,” said Khoo.
The two-storey terraced homes to be launched in both Eco Horizon and Eco Sun will have built-ups from 2,000 sq ft, with an estimated selling price starting from RM800,000.
Find out more about Eco Horizon and Eco Sun
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Meanwhile, Khoo added that the houses in both Eco Horizon and Eco Sun will have a colonial design concept.
“The houses will be something similar to our landed houses at Eco Botanic. The Eco Botanic landed homes are like a sneak peek of what we will be offering at our mainland township,” said Khoo. Eco Botanic in Johor is the developer’s maiden township launched in 2013 with a total GDV of RM3.79 million. Over 15% of the 270-acre freehold development has been reserved for greenery including indigenous trees and plants. The first residential project of Eco Botanic — dubbed The Verandah — comprises 624 cluster homes and semi-dees, which were fully sold and delivered to buyers last September.
“Eco Horizon and Eco Sun will be in a gated-and-guarded development. We will definitely not scrimp on security because that is of utmost importance. We will also be building a larger-than-normal clubhouse for the residents to enjoy,” explained Khoo. Eco Horizon and Eco Sun will have two separate entrances. While the clubhouse is located at Eco Horizon, residents at both Eco Horizon and Eco Sun are free to use the facilities.
Located at the centre of Eco Horizon will be the township’s 13.6-acre main park, with a pond that will take the form of a pair of flamingos.
“We understand that the residents may not utilise the clubhouse on a daily basis, yet when they want to use it, they want complete amenities such as a big gym and a big swimming pool. By building a bigger-sized clubhouse to be shared among more than 2,000 units of homes, this will definitely reduce maintenance fees, yet they can enjoy all the facilities,” he said.
According to Khoo, there are many Penangites who are looking for landed homes but cannot afford to buy them on Penang island.
“I would say many of them are genuine homebuyers and upgraders who may have previously bought a non-landed property to stay but have always dreamt of owning a landed property. Unlike the island where there are only small pockets of land for development, Batu Kawan offers clean swathes of land where we can showcase what we can do for these homebuyers,” said Khoo.
“The upcoming developments in Batu Kawan will be exciting as catalysts such as the second Penang Bridge to ease connectivity from the mainland and island will encourage more people to live on the mainland. Besides, the industrial area in Bayan Lepas is already fully occupied and companies are constantly looking for places to expand. The industrial development at Batu Kawan will involve high-technology components and with more upcoming industrial developments in Batu Kawan, it will definitely draw more people to work and live here,” Khoo added.
Source: TheEdgeProperty.com.my