E&O shrugs off SST hike, sets sights on upscale expansion
Managing director Kok Tuck Cheong said all of the group's current developments, including the newly launched Conlay Signature Suites, were sold under fixed-price contracts before the SST revision and therefore remain unaffected.
"SST is going to affect everyone in business. Ultimately, end-users and consumers will share some of the burden," Kok said at the launch of Conlay Signature Suites here today.
He added that while future developments will be guided by updated government policies, E&O's focus on the luxury market means its customers are driven more by quality than by price.
While acknowledging that SST may create cost pressures across the broader property market, Kok noted that E&O operates in a niche, premium segment where buyers in the premium segment prioritise distinctive architecture, thoughtful layouts, refined finishes, and exclusive amenities.
"For signature projects like ours, price is not the key factor. Buyers in this segment are discerning; they look for quality finishes, iconic architecture, well-considered layouts, and lifestyle-driven amenities. These are what captivate buyers in this demographic."
Despite broader concerns over the rising cost of construction and potential pressure on margins, Kok remained confident in the company's position, citing strong demand for design-led, high-end residences – even amid global economic uncertainties and geopolitical tensions.
Located at the intersection of Jalan Kia Peng and Jalan Conlay, Conlay Signature Suites is a joint development with Japan's Mitsui Fudosan. It is the final phase of E&O's landmark luxury development, Conlay.
Conlay is a 51-storey luxury serviced apartment with a total of 491 units, first launched in 2019. Conlay Signature Suites is positioned on the upper floors of the tower, featuring 194 fully furnished freehold units ranging from 635 sq ft to 3,617 sq ft. Prices start at RM1.52 million and reach up to RM12 million for the largest penthouse units.
"Every detail of the Signature Suites reflects our deep commitment to hospitality and craftsmanship. We believe this offering will resonate with those seeking both a legacy address and a lifestyle investment," Kok said.
He noted that E&O's focus remains on delivering distinctive, high-end developments, such as Conlay Signature Suites, and its upcoming project in Elmina, located on the fringe of the Kuala Lumpur city boundary, which is scheduled to be unveiled in the fourth quarter of this year.
"The next project will be a headline-grabbing one," Kok teased, without revealing further details.
Looking ahead, Kok believes Malaysia's steady economic fundamentals and growing appetite for premium properties will continue to support E&O's strategy.
"We remain positive because our projects are designed to meet the expectations of our target buyers. Even Malaysians today are increasingly willing to pay for distinctive designs and iconic structures," Kok said.
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