GEORGE TOWN: Eastern & Oriental Bhd (E&O) has set out a long-term plan to develop Andaman Island into a self-sustaining waterfront township, with future phases expected to incorporate healthcare, education, hospitality, retail and office components alongside residential developments.
E&O managing director Kok Tuck Cheong said the company views the island’s development as a 30-year journey to create a destination where people can live, work, play and sail.
The latest launch Avea carries a GDV of RM1 billion and comprises 1,080 freehold serviced residence units with built-ups ranging from 678 sq ft to 1,076 sq ft.
It features the largest facilities podium on Andaman and direct access to the waterfront promenade within the Gurney Green com-mercial district.
Kok added that the group had launched about 3,000 residential units worth some RM4 billion in GDV over the past four to five years.
“We are committed to actually do a RM1 billion GDV launch per year,” he said during the unveiling of Avea Tower B recently.
Kok said Andaman Island is envisioned as more than a residential project, with plans including healthcare facilities, educational institutions, hospitality offerings, retail developments and Grade A office buildings to support a growing waterfront community.
He said E&O was exploring partnerships with healthcare, education, hospitality and retail operators rather than developing expertise in those sectors internally.
“We will have to partner with people who can provide such expertise,” he said, adding that similar partnerships would be sought for other non-residential components planned for the township.
Kok also said the company currently has no plans to sell 10 waterfront commercial units planned along the promenade, preferring instead to curate the tenant mix and lifestyle offerings within the development.
The commercial component is intended to support a live-work-play-sail ecosystem and provide residents with access to retail, dining and lifestyle amenities as the township matures.
According to Kok, the second phase of Andaman Island, spanning 507 acres, is about 65% to 70% reclaimed and is progressing ahead of schedule with completion expected within the next one-and-a-half to two years.
The island’s first phase covers 253 acres and was completed in 2020 following four years of reclamation works.
Kok said the fully developed township is expected to accommodate a population of about 250,000 people and will feature extensive waterfront infrastructure, including marinas with capacity for about 500 berths, canals, promenades and six bridges to connect the islands.
Kok said Andaman’s masterplan seeks to promote seamless mobility through walkability, cycling infrastructure and an internal road network designed to reduce traffic congestion through “not installing traffic lights”.
He said the development is planned around a 15-minute-city concept with facilities located within easy reach of residents.
According to E&O general manager of marketing and sales Ramesh Gnanasegaran, Avea Tower A has achieved a 65% take-up rate following its private preview, while the group’s earlier marina-front development Maris has achieved a take-up rate of 75% .
He said local buyers account for more than 80% of purchasers at Andaman developments, with foreign buyers making up less than 20%.
Among foreign buyers, E&O is seeing growing interest from Taiwanese purchasers, alongside traditional demand from Singaporean and Indonesian buyers.
