Jap & Oriental Bhd (E&O) is ramping up its growth momentum with RM2.2 billion value of property launches scheduled for the rest of 2025, whereas additionally pitching its flagship Andaman Island in Penang because the potential website for the proposed RM10 billion Penang Worldwide Monetary Centre (PIFC).
Managing director Kok Tuck Cheong mentioned the launches will embody Elmina retail retailers, landed houses, Senna and Fera, and Andaman Island’s Plot 16E. He expects a heavier launch schedule within the second half of FY26, with Malaysians persevering with to anchor demand for Andaman initiatives, complemented by rising curiosity from Chinese language patrons within the Klang Valley.
E&O is concentrating on gross sales of at the very least RM1.2 billion in FY26, backed by RM1.34 billion in unbilled gross sales as of the primary quarter. For the quarter ended June 30, 2025, the developer posted a 21.1% year-on-year leap in web revenue to RM45.4 million, pushed by stronger contributions from property growth and funding, whereas income rose 10.8% to RM183.5 million.
Key ongoing initiatives on Andaman Island embody The Meg, Arica, The Lume and Maris, all slated for completion between 2026 and 2028, alongside landed phases of Senna and Fera. Exterior Penang, E&O is creating The Peak in Damansara Heights with Mitsui Fudosan, due for completion in late 2025. The group additionally just lately secured GreenRE Platinum provisional certification for its newest phases in Senna and Fera, underscoring its sustainability agenda.
In the meantime, E&O has formally submitted its proposal to website the RM10 billion Penang Worldwide Monetary Centre on Andaman Island. Competing places embody Gurney Bay, Jelutong, Pulau Jerejak, Penang South Island, North Butterworth and Batu Kawan.
Kok is assured Andaman’s contiguous land structure, built-in facilities and infrastructure capability will give it an edge. “If awarded, it should give the island worldwide recognition,” he mentioned, noting that the undertaking may appeal to overseas traders, enterprise capital, and personal fairness funds, whereas reinforcing Penang’s function within the semiconductor and expertise sectors below the New Industrial Grasp Plan 2030 and Nationwide Semiconductor Technique.
The undertaking award could possibly be introduced this yr, pending discussions with the Ministry of Finance and the Securities Fee. If profitable, the monetary hub is anticipated to generate sturdy multiplier results for Penang’s economic system and elevate Andaman Island into a worldwide funding vacation spot.
