Amaris Review 2026 — 29 Freehold Terraces Priced Like Condos in STP

Part of my Tanjung Tokong 2026 buyer's guide. For the full corridor read — every project, PSF band, foreign-buyer angle and honest catch — start there. This piece drills into one specific decision within it.

The RM4,000,000 price tag is the tell — and most people read it backwards. They see the number, assume Amaris is another Seri Tanjung Pinang condominium, and move on. It is nothing of the sort: 29 freehold three-storey terraces by E&O Property Development, completed 2017, with built-ups of 5,262 to 6,540 sqft. At RM650–840 psf, the per-foot rate is actually the modest part of the deal. What you are paying for is land, in a township where land is the scarce thing.

Key takeaways:

• Landed, not a condo — 29 freehold three-storey terraces inside E&O's Seri Tanjung Pinang township.
• From RM4,000,000 at RM650–840 psf — the quantum is high, the per-foot rate is not, because the houses run 5,262–6,540 sqft.
• 29 units total — real exclusivity, real resale thinness; listings are rare and buyers rarer.
• Reclaimed land — a landed house sits on it directly, so the geotechnical record deserves a read.
• Foreign buyers qualify at this price with room to spare.

Why RM4M for a Terrace Is Not the Madness It Sounds

Strip the address out and RM650–840 psf is an unremarkable figure for completed Penang housing. Put the address back in and it makes sense: this is landed title in Seri Tanjung Pinang, E&O's reclaimed-land township in Tanjung Tokong, about 1km from the Straits Quay marina. Landed stock anywhere in that township is thin, and freehold landed is thinner still.

So the RM4,000,000 entry is not an inflated rate on a small house. It is a fair rate on a very large one — 5,262 to 6,540 sqft is a lot of house by any Penang landed standard — in a location where the alternative is a high-rise unit. Compare it with a premium condo at a similar psf and you are getting several times the floor area, plus your own front door, for a similar per-foot spend. The trade is that you need the whole RM4M-plus quantum in one go.

29 Houses: Exclusivity and Illiquidity Are the Same Fact

A 29-unit enclave is genuinely private. It also means the resale market is a trickle. Good houses surface rarely, and when one does, the pool of buyers who can write a RM4M-plus cheque for a terrace is narrow by definition. If you buy here, buy for a long hold and accept that exit timing is not in your control the way it would be in a 300-unit tower.

The facilities — pool, gym, sauna, function room, landscaped garden — are pitched correctly for a scheme this size: enough to be useful, not so much that 29 households are carrying the upkeep of a resort deck. The township's integrated security and landscaping do the rest, which is the practical argument for buying inside an E&O estate rather than a standalone row of terraces. Current listings are on the Amaris project page.

The Reclaimed-Land Question, Asked Properly

Seri Tanjung Pinang was reclaimed from the sea. That is well known and, in an E&O-managed township, well handled. But the question lands differently for landed property than for a condo: a unit twelve floors up sits on a piled structure engineered for the whole tower, whereas a terrace house sits directly on the ground that was reclaimed. Settlement behaviour over decades is the thing to understand.

I am not flagging a known problem — I am flagging that the diligence is different. Ask for whatever is publicly documented on the geotechnical profile and the settlement record before you sign, and read it rather than file it. At this quantum, an afternoon with the documents is cheap.

Amaris Against Ariza, One Township Apart

The obvious comparison is E&O's other Seri Tanjung Pinang terrace product. Ariza Seafront Terraces starts from RM2,700,000 — about RM1.3M less at entry — and sits closer to the water. Amaris answers with considerably more house: a three-storey format and built-ups from 5,262 sqft, where Ariza's units are smaller.

If the brief is "landed in STP at the lowest sensible entry", Ariza wins on quantum. If the brief is "the most internal space I can own under freehold landed title in the township", Amaris is the one, and the extra RM1.3M is buying square footage and a smaller enclave — 29 houses against 32.

Foreign Buyers and the Right Kind of Owner

At RM4,000,000 and up, every house at Amaris sits well clear of Penang's foreign-buyer minimum for landed property, so eligibility is not the conversation — whether you want this much house is. The Tanjung Tokong area guide covers what surrounds it.

This suits a family that wants real landed space at a Seri Tanjung Pinang address and plans to stay a decade or more; a buyer who values township-level security and planning over a standalone estate; and someone who has actually read the reclaimed-land record and is comfortable with it. It does not suit anyone who wants a condo-format unit with shared building management, or who needs a smaller entry ticket — Ariza handles that brief in the same corridor.

Sources: Project prices, PSF, sizes, unit counts, tenure, land title, developer and completion year from our tracked dataset, compiled from developer price lists, official project sites and public listings. Sub-sale asking verified from live portal listings using the median-anchored method, with bait listings and relisted units excluded. RPGT rates and the s.21B retention per the Real Property Gains Tax Act (LHDN). Stamp duty per the Stamp Act (LHDN) — a flat 8% for foreign buyers, tiered 1–4% for citizens. The foreign-buyer minimum purchase price, 3% island / 2% mainland state levy and state consent requirement per Penang state policy and s.433B of the National Land Code. Figures move with the market — confirm current details with the developer or your solicitor before committing.