Betting on Emerald Bay in Puteri Harbour

By
/ The Edge Property
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June 11, 2017 8:30 AM SGT
Singaporean Jerry Tan, flamboyant founder and managing director of specialist luxury property realtor JTResi, bought a waterfront villa at Emerald Bay in Puteri Harbour, Iskandar Malaysia, when the site was still bare. “It was just an empty piece of land — the waterways were not carved out yet,” he says. “But I saw the master plan and I believed in the concept. So, I took a gamble and it was well worth the risk.”
Tan was so determined to buy the villa that he was willing to sign a blank contract, against the advice of his lawyer. “I knew the developer by reputation — [Malaysian developer] BRDB Developments — notable for its landed homes and luxury condo Serai in Bangsar,” he says. Following the purchase in early 2013, Tan was promptly known as “EB1” — Emerald Bay Buyer No 1.
What he got for RM6.08 million was a six-bedroom, three-level waterfront villa with a built-up area of close to 6,000 sq ft and freehold strata area of 6,300 sq ft. The house has six en-suite bedrooms, a platform lift, private lap pool and private berth on the waterway. Tan is adding an extension to the covered car porch so that it can accommodate three cars, with space for two more in the driveway. He is making only “minor enhancements” to the property, for instance, landscaping and artificial turfing in place of real grass for ease of maintenance.
Source: BRDB
The houses in Phase 1A of Emerald Bay with water views and private berths
Tan was a little nervous when he took possession of the house at the start of the year, as he had purchased it sight unseen four years earlier and did not know what to expect. “But I was completely bowled over when they handed over the property,” he recalls. “It was even better than some of the projects I’ve seen in Singapore.”
Building a waterfront resort development from scratch
Emerald Bay sits on a 111-acre freehold site with a gross development value (GDV) of RM4 billion. It will have 1,649 units including 250 landed homes, built in...