08 June 2016, 03:00

A series of executive apartments recently unveiled by Eastern and Oriental Berhad (E&O) at Seri Tanjung Penang. As it is set at a fabulous location of Seri Tanjung Penang, prices are expectedly high. However that hasn't deterred buyers in the least. With at least a 90% take up rate on it's first tower already after it's soft launch, the interest in this property doesn't seem to show any signs of softening in the least. One can only imagine the scramble for it's attractive pricing when E&O opens up for another round of registration in June.

 

However, what do locals really think about it, what do investors, the common folk think about this property? Is it just another addition to the burgeoning Penang skyline? Another opportunity for investment, to make a profit or a place to call home? Looking through property forums can be a headache and especially for such a larger property on a prime location the praises and objections to it would be numerous. Many people have pointed out that building such a high density apartment would ruin the surrounding facilities for the locals. With the Tamarind being in such close proximity to Straits Quay retail marina, Tesco, the Convention Centre, the Straits Green Public Park and Penang Performing Arts Centre. With so many new residents moving in, locals might be worried that the new influx of people might ruin their lifestyle. Indeed even, the luxurious beaches and gyming/pool facilities that are abundantly provided by the Tamarind might be overwhelmed if the apartments reach maximum capacity.

 

Despite this, many investors look to this property as more of an opportunity. With a growing Penang skyline and a city inevitable brings ever increasing housing prices. For many, to secure a piece of property in a prime location such as Seri Tanjung is worth it's weight in gold provided they wait a few years. In the meantime they could enjoy it as a second home with beach front promenades and activities nearby as well as a unique modern tasteful feel the is the signature of E&O's design. Although the prices are high now, it is still affordable for young professionals or new homeowners as E&O positioned their price to competitively seize that section of the market. What is high now will be mountainous in the future when this property sits in the middle of the skyline of Penang. Thus, a little hurt in your pocket right now could mean a bar of gold in that same pocket in the next 5-10 years.

 

In conclusion, with mixed remarks from both locals and investors both domestic and foreign. The Tamarind will no doubt continue to draw attention with it's overarching towers and multiple facilities slowly absorbing the new Penang skyline. My advice to all those who want a real feel of the place would be to go visit it. We can read as many opinions as we want, and in this case they are varied indeed but there is only one opinion that really matters. The opinion of that special person, the one who stares back at you from a mirror.

 

Written By : Lincoln Lee Ming Tze

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