PENANG: YTL Land and Development Bhd’s RM330 million Shorefront project saw 67 units of low-rise condominiums in two blocks, with an average price of RM1,200 per sq ft, snapped up during the preview on Saturday. Shorefront comprises three blocks with a total of 115 units, with built-ups ranging from 1,400 sq ft to 3,400 sq ft. The remaining units will be released after Chinese New Year.

“The success is largely driven by YTL Land’s well-articulated product in terms of concept and design to complement the landmark address,” executive director Datuk Victor Yeoh Seok Kian said in a press statement.

The project is located in George Town city adjacent to the Eastern and Oriental (E&O) Hotel. The amenities surrounding the project include Penang’s local food havens, hotels, restaurants, entertainment outlets, schools, shops, bazaars, and historical and cultural sites.

“Our decision to preview the first release in Penang is to give Penangites and the Penang diaspora working abroad this special privilege to own an exclusive seafronting property in their home state. We are humbled by the overwhelmingly positive response, and would like to thank and congratulate our homebuyers for sharing our vision of Shorefront,” Yeoh said.

This article first appeared in The Edge Financial Daily, on February 13, 2015.