RM800mil projects in Klang Valley and Ipoh next year

Artist's impression of the RM100mil Taipan@Ipoh Cybercentre project.

GEORGE TOWN: Andaman Property Group, which is based in Kuala Lumpur, will develop six property projects with a gross sales value (GSV) of RM800mil in the Klang Valley and Ipoh next year.

Andaman Property Management Sdn Bhd head of sales and marketing Vincent Tiew said of the six projects, one would be in Ipoh.

In Ipoh, the plan is to develop landed commercial and residential properties while in the Klang Valley, the plan is to develop a mixture of high-rise and landed commercial and residential properties.

The pricing, which is yet to be determined, will be attractive to lure investors, Tiew said.


Potential buyers viewing a model of Andaman’s RM100mil Taipan@Ipoh Cybercentre project during its soft launch recently.

This year, the group launched four projects two in the Klang Valley, one in Johor Baru and one in Ipoh with an estimated GSV of RM350mil.

Ipoh is the group's focus as we have just unveiled the RM100mil Taipan@Ipoh Cybercentre in Bandar Meru Raya, he said.

The project is a 1,600-acre integrated, self-contained township in North Ipoh Growth Corridor, which is being developed by Perak government.

Tiew said the landed commercial and residential project planned for next year in Ipoh would also be in Bandar Meru Raya.

The residential component will be priced affordably to attract first-time home buyers while the commercial components will be marketed to local and outstation investors with competitive pricing, he said.

On the RM100mil Taipan@Ipoh Cybercentre, Tiew said the project saw 50% of its 102 retail lots sold during a three-day preview that started on Nov 26.

The three-storey retail lots, with a built-up area of 4,500 sq ft, are priced from RM688,000 while the four-storey retail lots, with built-up areas between 6,000 sq ft and 11,000 sq ft, are priced from RM1.5mil.

Tiew said there were two key reasons for the brisk sales the features of the retail lots and the location of the project, which is close to the Perak MSC Cybercentre in Bandar Meru Raya.

He said some 30 units had dual-frontage, which meant that they were accessible from front and back.

There are 24 retail lots with 770-sq-ft to 1,200-sq-ft land in front of them that can be used for al fresco dining and other business activities. These units cost RM50,000 extra, he said.

By The Star

SuperBoom expect The Haven to generate RM250m GDV

SUPERBOOM Projects Sdn Bhd, a property developer, expects its latest project in Ipoh, Perak, to generate a gross development value of about RM250 million.

The Haven, expected to be Perak's most luxurious condominium project, will comprise three residential blocks. So far, 80 per cent of the units at the first block and 20 per cent of the units at the second block have been booked.

According to chief executive officer Peter Chan, buyers can expect prices to rise by about 30 per cent.

"Currently, we are selling at RM338psf. But, we have been told that the property can fetch as much as RM450psf if the market knows what The Haven is all about," said Chan in a media briefing in Kuala Lumpur yesterday.

He was speaking to the media after the signing ceremony with Bina Puri Holdings Bhd and Beijing Construction Engineering Malaysia. Superboom hired both companies as joint main contractors.

Chan expects the property market in Perak to grow with the new Ipoh-KL electric train service and as more planes fly to Ipoh.

"Perak has not seen major development in the last 20 years. But, with so much development recently, it certainly makes the timing of our project spectacular," said Chan.

The Haven will come in various types, from the entry level units of under 1,000 sq ft to penthouses of 5,000 sq ft. As the condominium is located near the hillside and forest, and has a lake view, Chan believes it can attract foreign buyers as well as those from Kuala Lumpur.

"Although these natural resources are a common sight to those living in Ipoh, it is something unusual for many of us. I think this makes The Haven an ideal place for vacation and an ideal place for a home," said Chan.

So far, piling work for the first block has been completed, and both Bina Puri and Beijing Construction Engineering are due to complete the project in 2013.

It also expects to open its third block for sale in about six months and prices of these units are expected to be higher than the current RM338psf it is offering for the first two blocks.

By Business Times

Bina Puri JV wins Ipoh condo job

KUALA LUMPUR: The joint venture (JV) between Bina Puri Holdings Bhd and Beijing Construction Engineering (M) Sdn Bhd (BCEG) has won a RM109mil contract to build The Haven, dubbed to be the most luxurious condominium in Ipoh.

The contract, awarded by Superboom Projects Sdn Bhd – a privately held property developer, is for the construction of the high-end residential project slated for completion in 2013 with gross development value of RM250mil. The Bina Puri led-JV was chosen over seven bidders. The leasehold Haven, Lakeside Residences is a 26-storey building with 489 units located in Tambun, Ipoh.


Peter Chan

Superboom chief executive officer Peter Chan (pic) said The Haven, with its special features and quality, would be the best value luxury condominium in the world.

“Selling at RM338 per sq ft, the price range will be between RM300,000 and RM1.7mil for various units of between 968 sq ft and more than 5,000 sq ft (penthouses).

“The price is definitely lower than the price (of similar residential) in the Klang Valley but it cannot be a lot lesser as the building cost is the same although the price of land per sq ft in Ipoh is about one-eighth of that in Kuala Lumpur,” he said after the signing ceremony for the appointment of the JV as the main contractor for the project.

In terms of price appreciation, Chan said they expected a high increase.

“According to the experts, intrinsically it is worth RM450 per sq ft by the time the market realises its potential.

“The take-up rate has also been encouraging so far prior to the launching scheduled by year-end or early next year. Currently 80% of block A and 20% of block C have been sold.

“Construction works of the two blocks (A and C) have already started but development of block B is expected to begin in the next four to six months,” he said.

Chan said the strength of this development lay in its location besides its facilities and conveniences. There are features such as the attractive limestone and green environment and it is 12 minutes drive to the city centre.

Meanwhile, Bina Puri chairman Datuk Wong Foon Meng said both parties in the JV had equal roles and responsibility. Each company would bring its own niche strength to the project, he added.

“With our vast experience in the construction and property sector, we are confident of delivering the project within the stipulated time-frame,” he said.

To date, Bina Puri had delivered projects exceeding RM7.8bil. So far this year it managed to clinched new projects up to RM1.64bil.

BCEG, on the other hand, has completed several projects worth RM265mil in the Klang Valley. It is part of BCEG Group from China which is on the top-225 international contractors list.

Meanwhile, Superboom’s porfolio included the 576-unit Permai Lakeview Apartments in Ipoh and Subang Galaxy in Shah Alam. It has incorporated The Haven Sdn Bhd primarily to undertake The Haven development.

By The Star