Monday 13 July 2015

Eco Meadows: In A Class Of Its Own

The sales office of Eco Meadows in Simpang Ampat has quietly opened to public last weekend.

This 60-acre freehold development will be Eco World's second project in Penang state after Eco Terraces, and first in mainland Penang.

The site is visible from North-South Highway near Penang second bridge interchange.

First project to be launched, probably very soon within July 15, will be gated & guarded double-storey terrace houses.

If not mistaken, there are total 375 units of DST planned for Eco Meadows and there is no semi-D or bungalow.

The facilities provided include swimming pool, gym, kindergarten, park and clubhouse.

Four types of DST are available which are Type 1A/1B and 2A/2B, with land size of 20 x 70 and 22 x 70 feet respectively.

The final layout plan is still not available at this moment but some units will come without a balcony.

Type A is called Bay Window Collection which is without balcony. Type B is Balcony Collection.

There will be no other landed residential property after this. Future launch will be shop offices, service apartments and probably a shopping mall.

Here comes the most important question... What is the price?

In Oct 2013, I predicted that DST in Eco Meadows will start from RM500k, while DST in Pearl City is about RM350k at that time.

Obviously this prediction is already outdated.

One year ago in mid-2014, Asas Dunia priced its DST in Hijauan Valdor, which is about 2km from Eco Meadows, at RM550k.

Apparently Eco Meadows will certainly price its DST at at least RM700k now to show that it is in different class. Agree?

True enough, though  official selling price of Eco Meadows's DST is not confirmed yet but according to sales person, it will be approximately RM700k.

Management fees is expected to be around 15-20sen per sq ft.

Now, gated DST (22 x 60 ft) in Raintree Park of Pearl City is priced from RM478k. If Eco Meadows sells its DST at RM700k, then it really makes Tambun Indah's DST looks cheap.

Despite its premium price, I think Eco Meadow's DST will still sell like hot cakes due to its brand power and lots of its well-to-do fans.

Anyway, what are the difference between Eco Meadows and Pearl City?

Location wise, both are located in Simpang Ampat but Eco Meadows is closer to PLUS Bukit Tambun toll and Batu Kawan while Pearl City is closer to Bukit Mertajam, AEON & Tesco Alma.

Pearl City is a big 1,000 over acres township which houses a new KTM station while Eco Meadows is just 60 acres though it will have its own commercial component.

Pearl City will be much more crowded so traffic and safety might be an issue. However, it will be more happening & convenient as GEMS International School, Pearl City Mall & Jit Sin SPS branch have been confirmed. Future plan includes a medical center as well.

Eco Meadows brings with it luxury and high quality feel in which buyers expect high quality materials, fittings and finish, on top of tastefully designed landscape.

Pearl City will also have its own high-end gated projects such as Raintree Park. However, it is not expected to match those" quality" & "features" offered by Eco Meadows.

Do you think it is worth to pay RM200k more to get Eco Meadows DST over Raintree Park DST?

       Location of Eco Meadows, Pearl City & Hijauan Valdor

If you are keen to get your dream homes in Eco Meadows, just prepare a RM10k cheque and go to the sales gallery at the actual site to book a priority of unit selection.

The RM10k is fully refundable if you can't get your preferred unit, but please reconfirm with sales person before you hand in your cheque.

Frankly speaking, my wife and I dream of staying in a community like Eco Meadows.

However, I know that it is not worth it and also not possible that at this stage of my life.

Should I buy for investment?

How much is the expected rental? RM2000 rental per month will be great I guess, but monthly loan repayment and management fee should be at least RM3000.

How fast will it appreciate? Do you think Eco Meadows DST price will appreciate to RM1mil upon completion in 3 years time?


  1. I visited Eco Teraces also, very grand and looks ideal but the price is also 'very grand'. They are aiming actually very high

    1. I guess the grand presentation has successfully "trapped" a lot of people into buying their properties. But no problem since those are rich people anyway :)