PENANG (June 11): Eastern & Oriental Bhd (KL:E&O) has launched its latest RM1 billion AVÉA serviced apartment at its Andaman development in Penang.

The marina-edge development will comprise 1,080 fully furnished units — available in five layouts with sizes from 678 to 1,076 sq ft — evenly distributed across two 51-storey towers (Towers A and B).

Sitting on a five-acre freehold land, AVÉA also features a waterfront promenade with 10 shoplots to offer a connected waterfront community with amenities and retail services. 

At the launch event on Thursday, E&O general manager (sales and marketing) Ramesh Gnanasegaran said the developer is keeping the shoplots to control the tenant mix, but he doesn't rule out the possibility of selling the units at a later date when the development matures.

Scheduled for completion in June 2030, the development has received the GreenRE Platinum Provisional Certificate.

E&O managing director Kok Tuck Cheong noted that Andaman is a long-term vision to create Malaysia's most livable curated island — a connected waterfront destination where people can live, work, play, learn and sail within a vibrant and sustainable community.

"Every component within the township is intentionally planned to contribute towards a highly liveable and connected environment. AVÉA represents another important milestone in that journey," he said.

"As our second marina-edge residence, it strengthens Andaman's waterfront living proposition through thoughtfully designed homes, lifestyle offerings and community spaces that bring residents closer to the sea and the experiences that define island living."

AVÉA was first unveiled in January this year with Tower A, which has since seen a take-up rate of 65%.

It is the second marina-edge residence at Andaman, after Maris that was launched in December 2024. Maris is 75% sold to-date, with the majority of the buyers being local Penangites.