Suites At Straits Quay


The Suites At Waterside (Straits Quay) is a luxury service apartments at the heart of Seri Tanjung Pinang, Tanjung Tokong, Penang. Total 217 luxurious units of service apartments come with 1 and 2 bedroom. The built-up area range from 853 to 1,800 sq.ft.

The Suites offer all the amenities of modern living enhanced by sweeping views across the Straits of Malacca and the Andaman Sea. At Waterside, the vibrant energy and colour of seafront living is brought to life by its unique inner city festive marina concept.

Property Project : The Suites At Waterside (Straits Quay)
Location : Tanjung Tokong, Penang
Property Type : Service Apartment
Tenure : Freehold
Total Units : 217
Built-up Area : 853 - 1,800 sq.ft.
Developer : E&O Properties


38 comments

March 15, 2008 at 12:50 AMAnonymous

Awesome project ... anyone can provide the price range ?

 
May 6, 2008 at 4:04 PMAnonymous

About Rm 600 psf.

2 BR's are sold out. Only the 1 Br with a parking garage view are left

GlobalEdgeInvestors Lurker

 
July 11, 2008 at 1:47 PMAnonymous

Ariza seller asking for 1.3m, how much do you think Suite is worth when completed?

 
November 14, 2008 at 3:44 PMGnek

The waterside project is now 55%, ahead of schedule and estimated to be completed by early 2010.

Due to strong demand, E&O has just quietly released some new units on the left wing of the development a few weeks ago. Most of them have been snapped up but some units are still available. Type D (1800sf) starts at RM1.4m and above.

For its scale, unique design and service apt concept, I foresee most owners (local and foreign) will keep the units to themselves.

 
January 3, 2009 at 3:25 PMYoungDurian

I wouldn't buy it at this ridiculous highly inflated prices. Watch the price to drop in the next few months with this global bad economy. Further it is on reclaimed land and it was built almost immediately. Normally you should allow the refill land to rest for 10 years to allow natural settlement. Also it is facing the Indian Ocean- Tsunami risk is high. Given all these factors buyers beware.

 
January 5, 2009 at 12:59 PMsam

youngdurian, if you are willing to pay peanuts you will get monkeys.

 
January 6, 2009 at 8:55 AMYoungDurian

sam, I can pay $1000 a sq ft but not foolishly like on overpriced property like "Suites At Waterside". There are always a danger with cracking walls from settlements due to the new filled ground and also constantly on guard living in fear of another tsunami striking again every time the Indian Ocean has a quake. Those link houses can be swept away easily in a big Tsunami. Probably people who bought are short in memory of the last Tsunami in Penang. That area was most affected. Beside the layout is too conservative to my liking. I wouldn't pay more then $400 a sq ft for these suites.

 
January 7, 2009 at 3:15 PMsam

youngdurian, I dont think u are young to give such remarks. both u n I are very lucky to live through one Tsunami, it will be very difficult to experience another Tsunami in one's lifetime, more difficult than to strike big sweep. How many ppl actually know what Tsunami is until it strike?

As for reclaim land, there are a lot of projects in Dubai n Singapore.

I think Penang island is not suitable for you, new projects are either on reclaim land or by the hill. try Prai, cheap and big.

 
January 7, 2009 at 5:16 PMYoungDurian

Sam, I can afford to buy anything in Peanng. I owned 2 houses in T.Bungah and just bought a Million dollar unit at Platino and now looking to buy another at the Cove but wise enough to steer clear from this over priced and precariously dangerous newly reclaimed land filled "Suites at Waterside". If another Tsunami arrives this reclaimed property will be history.Why are you so agitated? Are you just a sales rep. from S at Waterside? I can understand if that is the case.

 
January 8, 2009 at 10:05 AMsam

sure, u can buy whatever u want. the question is can u profit from it? I prefer to hold cash and wait for the BIG ONE...

 
March 25, 2009 at 12:14 AMJS

carolyn, the suites not worth 1.5mil

by looking at the developer's present financial situation, i doubt the condo & phase 2 reclaimed island will be viabled which will directly affect the vibrancy of the suites once completed.

any news on tesco at their commercial land? i heard it has been scraped.

 
June 1, 2009 at 3:56 PMGnek

The Waterside construction is 75% completed and the multi-storey parking lot is painted and almost done.

The new released units to the right side of the structure have been fully taken up, at a higher psf when it was originally launched. Completion date is still ahead of schedule, most likely early 2010.

The nearby new condo is scheduled for relaunch some time in July/Aug 2009.

 
July 20, 2009 at 1:41 PMGnek

Rumor has it that E&O may decide to sell new units on the Right Wing of the main building in the weeks to come.

Whether it is inflated price, the next tsunami or unsettled relaimed land E&O has continued to defy the odds. All units (except one) of the newly launched super Seafront terraces by the Waterside were sold in half a day! The rich must have sensed/foreseen something in this development that most don't...

 
August 7, 2009 at 12:08 PMCitysleeker

The condo next to The Suites will be launching soon. Heard there are 1-bed up to 4-bed units.

 
September 3, 2009 at 11:24 AMsam

E & O share price cheong, the property price will cheong soon...

 
September 6, 2009 at 11:28 AMCitysleeker

Sam -

I think it is more the opposite... So far all the new E&O launches have been doing well and that has given the share price a nice lift.

I must say they have done a very good job at Seri Tanjung Pinang.

 
September 7, 2009 at 3:47 PMsam

the cycle continue, profit in share market will go back the property....

 
December 9, 2009 at 3:31 PMGnek

E&O is scheduled to hand over the completed units to owners around June/July 2010. The interior work is almost done for most units. They are focusing on the loose ends and beautifying the landscape and etc.

To couple with that, I heard the take-up rate for waterfront retail outlets is impressive. Most of the tenants will be of those up-market brand names. They are not targeting Oldtown, McDonald's or Burger King and the like.

 
January 3, 2010 at 1:26 PMGnek

Latest update on the Waterside Suites: the work inside the units are done. The interior finishing is as good as what was seen in the 1800sf showroom.

But there is still plenty of landscaping work to be completed and the marina front may need some touches too.

Shares of E&O closed at around 1.05 on the last trading day.

 
February 13, 2010 at 11:58 PMCasee

HAPPY CHINESE NEW YEAR..

 
April 8, 2010 at 5:08 PMCitysleeker

Anyone has any idea when will this be ready?

 
April 9, 2010 at 12:33 AMGnek

Should be done around May 2010. But expect a June timeline to get the handover from E&O is more realistic.

The Straits Quay retail outlets will be ready much later. It may be as late as Oct for them to finalize the high-end retailers and open for business.

 
April 9, 2010 at 1:32 PMCitysleeker

Thanks Gnek.

Any idea who the retailers are?

 
April 22, 2010 at 2:59 PMGnek

Hi Citysleeker,

I am not too sure but guess popular chains such as Delicious, Morton's and the like may be on the list. Again, they try to position this marina area as the-place-to-visit in Penang so E&D will definitely dole out all kind of freebies and carrots to entice them to set up a shop.

The marina area is shaping up. The planted trees are growing and flowers are beginning to bloom. But more are to be completed... the rooftop swimming pools are still WIP and the elevated tennis court is one of its kind, with view of Gurney Dr and the open sea.

 
June 30, 2010 at 10:18 PMPentiuman

Does anybody know why this project hasn't been handed over to buyers yet?

 
July 18, 2010 at 11:26 AMCitysleeker

Heard E&O has just started handing over the keys in batches.

 
July 31, 2010 at 6:50 PMPenang Property Showroom

For all owners of THE SUITES. You guys can collect your keys anytime from now.......

 
August 18, 2010 at 4:52 PMpenang

looks like a speculator market for this product. Well, common sense is that 1 or 2 bedrooms definitely not suitable for family long stay. Hopefully this will not be rich old-folk homes = MM2H residents = elderly residents...

 
November 8, 2010 at 1:37 AMSam

1.8 million for 1800sqft???? wah... 1.8 million can buy 3 terrace hse liao!!

 
April 11, 2012 at 9:23 PMCherri

would feel very scared if there's earthquake in sumatra...like today, acheh...

2004 this area was hit badly by tsunami...plus the whole seri tanjung pinang is the product of the reclamation project... really concern that the ground structure is not stabile...

even today, after the earthquake in sumatra there.... the TESCO in Seri tanjung Pinang already evacuate all the shoppers and close shops..

i very kiasi 1... one small studio apartment so expensive, summore have to worry about the land structure or tsunami...

 
April 11, 2012 at 10:36 PMfrogprince

Cherri,
Seems like you have an agenda in posting your comments in all STP projects. If you are so kiasi, pls don't stay in Penang. Today, even Jusco in BM (mainland) close shops. Maybe you can move to Kulim. Oppossss...Kulim also felt the earthquake. errr...maybe Gua Musang in Kelantan is safe.
Am not sure why you really concerned that the ground structure is not stable? If tsunami hits, no matter how strong it is, it will be affected.
There is a saying, if you can't manage to eat the grapes,
don't blame the grape is sour.

 
April 12, 2012 at 3:55 PMCherri

Whoops... Seems like I just stepped on a stp investor or property owner's tail or shud I say, wound lol
First, I def won't consider it as Grapes, cos to me, the properties there r not worth buying.

Ya u r right! Everywhere also could feel the tremor, so I would be more scared if I stay on a big pile of sampah LOL

U still dun get wat I mean dun u? If u r really a resident there, pls be thankful that nothing happened yesterday n u still can get offended by my comment n shot back, otherwise.... Hehehe

Those who dun own a stp property are not necessarily dun have money to own one BUT they are def the wise ones.... Over RM 600 psf for a sampah land that developed straight right after the reclamation (w/o let it stabilize for some years), once again u shud be thankful that u still remain intact to the pg island today.... But in future... I wish u luck!!! ;-D

 
April 12, 2012 at 4:10 PMCherri

D main point is such an expensive price for a reclamation ground! N I'm surprised that not all ppl realize that, in fact some who stay there sun even know bout it but they are not frm Penang la... Foreign or out ration investors

N thx for pointing out that even justo in mainland close shop (solid ground), n Kulim, another solid land also experienced tremor. Yah... Kelantan n Gua musang, in fact any solid grd is def safer than STP.. N if tsunami hits, you'll be the FIRST one to be affected, not matter how WEAK it is LOL

N by that time, those in Kulim, Gua musang n
Tj bunga (inner part n most importantly solid land as well, will sit back watching CNN n eat GRAPES, sour also nvm, I like grapefruit also heheh

 
April 12, 2012 at 10:27 PMfrogprince

Hi Cherri
Well...am not an owner nor resident in STP. How I wish I am. But one good thing from your comment. Will be great if your comment will cause the price to drop coz I would love to be able to afford one. But meanwhile, we hope all is safe. Not a sour grape sitting in front of CNN.

April 12, 2012 10:19 PM

 
February 22, 2013 at 10:27 PMGoat

Can anyone disclose the happening in Straits Quay Service Apartment Joint Management Board AGM on 22 Feb 2013 ? Owners in overseas, if you happen to visit this forum, ease leave a comment and we can communicate. Thanks. Regards

 
February 27, 2013 at 12:34 PMUnknown

AGM turn ugly and called off . the developer got his own staff ( Proxy ) to vote in AGM . They are trying to convert the common area to private which is not fair to us . Please provide contact details . So that i can forward you the plan .

 
February 27, 2013 at 2:01 PMCottage Design

AGM and Manageement turn ugly. Problem everywhere.Sad to say that this will draw people from purchasing a Unit in Straits Quay. I am goign for Quayside. BYE SQ!

 
February 28, 2013 at 11:34 AMGoat

Thanks for the info. So it was fighting over Common Area. My email is goatleong@gmail.com. Hope some committee member assist to set up an emailing group so that owners in the lists can be informed of coming meeting and issues. MOst owners may not know what is going on and ignorant of their investments.