Sime Darby Property, Eastern & Oriental, Elmina West

elminaCity of Elmina is a project by Sime Darby. This is a project which Sime Darby said in its website that you will get to know your neighbours by their names. This is also the place where you spend your weekend outdoors and get back the right life balance that you have missed. Here is where you get back the essence of good life within an integrated and sustainable township. This is a huge development which is not likely to be fully completed within the next 10 years. Thus, some help would be great. Oh yeah, the cheapest property here is the double storey link house which is priced slightly below RM800,000.

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Eastern & Oriental Bhd (E&O) who develops one of the highest priced project in Penang had bought a piece of 55ha freehold land in Elmina West for RM239.8 million.  This will see the land being developed into a ‘wellness and liveable city’ with an estimated baseline GDV of RM1.5 billion. Really does seem like a great deal for both parties. The great part about the deal is, if the baseline GDV is higher than RM1.5 billion, the proceeds will be shared 80:20 between E&O and Sime Darby Property.

As per the location map, The City of Elmina is well connected and can be accessed from several major highways. In fact this will be further enhanced with the proposed new Damansara-Shah Alam Elevated Expressway providing linkages to areas such as Subang, Kota Damansara and Mutiara Damansara, expected for completion in 2019.

As usual, this project would only be favoured by people who does not mind slightly out of the usual popular areas. Of course, if you have been reading my blog, you would know that I like places which are slightly further away instead of the usual few places which everyone loves. There’s just no way that you would be able to afford the same size, facilities, space for the price being offered today by Elmina. Don’t ask me if I am getting one, I have just completed moving for the 8th time within the past 16 years. If I tell my wife we are moving again, I think I better move by myself.

written on 6 July 2014

Next suggested article: RM1,480 psf only, Shah Alam, I-City

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