Tag Archives: The Haven

Ipoh Property Getting Noticed


By Sylvia Looi

Ipoh PropertyDevelopers in Perak are bullish over property development in the state with some feeling its capital Ipoh has finally entered the major league of property investment by getting noticed. CEO of Superboom Projects Peter Chan, the developer of the award winning condominium project The Haven in Tambun, said the lull in the building industry currently being experienced elsewhere in the country is a good sign for Perak and Ipoh in particular.

Ipoh is One of the Least Risky Places for Investment

Peter Chan, CEO of Superboom Projects
Peter Chan, CEO of Superboom Projects

“Buyers will look for the least risky places to invest and Ipoh will definitely be one of them,” he told Ipoh Echo in a recent interview.

Chan, who has stayed in Ipoh for the past 10 years, based his opinion on the leads and lags factor. “Ipoh is fast becoming the number 1 property investment destination as seen from the steady rise in property prices here over the year,” he said. “The time has come for the successful to own a second home or a getaway home,” he added.

Citing The Haven as an example, Chan said locals formed the bulk of purchasers. Chan foresees that Ipoh will be the next centre of attention in the coming years.

“Ipoh has a good prospect with the Electric Train Service and the extension of the Sultan Azlan Shah Airport runway which will lead to more flights and more destinations being offered,” he said. The low cost of living in Ipoh makes it another attraction to investors, added Chan. “Best town in the world is Ipoh with its laid-back lifestyle,” he enthused.


Ipoh Property
Tumbuh Merata’s project at Jalan Pasir Puteh

Double Storey Doubled

Agreeing with Chan, Tumbuh Merata Sdn Bhd director Tony Khoo said the price of double-storey projects in the city had almost doubled since three years ago. “A double-storey house for RM180,000 then, can now fetch between RM290,000 and RM300,000,” he revealed. Khoo was however quick to add that property prices are still relatively low in Ipoh as compared to other cities.

Khoo added that most purchasers of properties in Ipoh now, are middle income earners with more disposable incomes. “Compared to 10 years ago, properties in Ipoh are being snapped up by Ipohitess working overseas and planning to retire in the city,” he noted.

The local property scene, according to Khoo, lacks medium-cost units, which he blamed on the high land costs. “Coupled with high building costs, developers cannot sell their projects at a bargain,” he explained. He said, however, that purchasers would weigh in factors like locality, whether a project is gated, its design and pricing before deciding on investing in a project. “Bank policies are also affecting our sales as we can’t close a deal if prospective buyers can’t get a bank loan,” he added.

Khoo said projects with safety features will definitely be a plus point for purchasers when considering a property to invest in due to growing concern over high crime rate. “I would say 70% of buyers will go for it if they can afford it,” he said, adding that the only drawback of a gated community is the high monthly maintenance charges they have to incur.


Ipoh Property
Kinta Real Estate development


Kinta Real Estate Sdn Bhd managing director, Dato Poo Tak Kiau, however believes that the location of a project determines the marketability of a project. Citing Bandar Baru Meru as an example, Poo said due to plans to relocate Government offices there, projects there are being snapped up like hot cakes.

“Even before the dust for the first phase project has settled, investors are queuing up to purchase the second phase,” he said. Citing Meru Desa Park as another example, Poo said the price has appreciated from more than RM308,000 to more than RM400,000 within six months.

In Bandar Meru Raya, a 24”x90” terrace house project which was fetching RM400,000 previously is now changing hands at RM600,000.

With a hypermarket, central bus station, hotel, convention centre, education centres and amusement park being built in Bandar Meru Raya, Poo reckons that when the entire Bandar Meru Raya is fully developed, the prices of properties will skyrocket.

Poo said another location that investors should be on the lookout for is Kampar. “With Universiti Tunku Abdul Rahman, there will be more demand from students for accommodation,” he said. Citing the Taman Mahsuri Impian as an example, Poo said investors are assured of rental returns. “Purchasers can be assured of between 13% and 27% return on their investment,” he added.


On complaints by some developers that difficulties in obtaining loans for buyers are causing them to lose some deals, Bank Negara Malaysia said this was to ensure individuals do not borrow beyond their means.

In a report on online news portal The Malaysian Insider on March 22, Bank Negara Malaysia assistant governor, Dr Sukhdave Singh, was quoted as saying that “while easy loan approvals may give a boost to economic activity in the short term, there would be a price to pay in the long term that would be borne by the whole economy”.

“Credit guidelines are not intended to deny loans to genuine borrowers with genuine needs and who can afford to repay,” Dr Sukhdave Singh was quoted as saying.

The ruling came into effect in November 2010 when the central bank announced a maximum loan-to-value ratio of 70% for third housing loans to curb excessive investment and speculative activity in the residential property market. Financing for the purchase of first and second homes was, however, not affected by the ruling.

The central bank said the measure would help ensure housing remained affordable and promote home ownership among Malaysians, which was an important item on the national agenda.

Perak chapter of Real Estate and Housing Developers’ Association Malaysia (REHDA)
Dato’ Francis Lee, REHDA Chairman

REHDA Confident of Property Boom in Coming Decade

The Perak chapter of Real Estate and Housing Developers’ Association Malaysia (REHDA) is confident that Perak’s property market will take off in the coming decade.

Its chairman Dato’ Francis Lee said that apart from the laggard pricing from Peninsular Malaysia, Perak’s house prices are also increasingly laggard from the cost of delivery of the housing development.

“With the increase in household income over the last few years and the current low interest regime, the affordability index is at an all time high for the intended target group of purchasers,” he told Ipoh Echo through an email interview.

Lee said that the Government’s measures to curb speculation by way of a revision of rates to ‘Real Property Gains Tax’ and a 70% ceiling on housing loans, would have little impact on the housing market scene in Perak.

“The other positive measures implemented to promote home ownership by way of ‘My First Home Scheme’ and ‘1 Malaysia Public Housing Scheme’ (PR1MA) will be supportive of the housing industry in Perak,” he said.

Lee noted that investors contemplating a purchase of a property in Perak will be comforted by an assurance that the prospective property is comparatively cheap and defensive in value and has capacity for strong capital appreciation into the future.

Perak Cheap by Comparison

“A cursory review of the average transacted price of housing properties within Peninsular Malaysia for 2010 and 2011 shows that the price of properties in Perak for the corresponding period is indeed very cheap by comparison” he said, pointing out that the average transacted price for properties in Perak for 2011, consisting of transactions in both the primary and secondary market, is RM122,275.

“This ranks the pricing of housing property in Perak at the tenth spot in Peninsular Malaysia and only ahead of Perlis, Kelantan and Terengganu,” he added.

“As the major variance for the cost of delivery of housing properties within Peninsular Malaysia is the land cost, there is no rationale for the vast laggard pricing and the prices for housing in Perak will inevitably move upwards in the coming years,” he noted.

Current Stock of Housing

Lee said for low-cost housing, there were 90,606 units in Perak in 2011 representing 23.32% of total housing stock. “This is largely represented as mandatory delivery of low-cost housing by housing developers under corresponding state guidelines,” he said.

Lee noted that single-storey terrace, two to three-storey terraced and detached houses form the bulk of the housing stock in Perak, tallying at 264,667 units or 67.83% of total stock.

“With the increasing household income of the last few years and a growing affluent population, there will be a corresponding growth in the percentage of delivery of semi detached, detached and condominiums in the coming years,” he added.

As the ‘Population and Housing Census of Malaysia – Preliminary Count Report 2010’ reports that there are 559,405 households in Perak as at census date, this would mean that 169,188 households in Perak are living in non-conventional housing in the form of small holdings with rural residence, shop houses with residential facilities and residential premises built on TOL (temporary occupation licence) land, said Lee.

“The fact that the price of housing in Perak is much laggard from Peninsular Malaysia pricing, it would be fair to infer that there is no element of a property bubble subsisting in Perak,” he said.

Haven Musical Extravaganza


ipoh echo issue 142, the haven, peter chan, Juwita SuwitoPeter Chan of Haven Lakeside Residences Tambun is never short of ideas when it comes to entertaining friends and clients. His idea of an endearing evening with his associates is a continental dinner with the accompaniment of music and songs within the cool ambience of his “real estate” – ‘Where else but the Haven’. The occasion was warranted, as Peter’s project is near completion. So on Saturday, April 14 a steady stream of dignitaries, consisting of the Who’s Who of Ipoh’s society, made their way to the Roof Top Garden of the Haven Show Gallery to do justice to Peter’s beckoning. It was well worth the attendance. Guests dined amidst the splendours of a green background with the trademark rock in full view from the terrace. Juwita Suwito’s rendition of her cover pieces brought back the bliss of the moody 1990s and early 2000s. The songs, the music and the food were simply incomparable. Peter, with one touch of the magic wand, you have transformed Tambun and this writer. Cheers.


Haven Fetes Its Customers

The Haven - Peter Chan
Peter Chan, CEO of Superboom Projects Sdn Bhd

Tambun’s Haven Lakeside Residences, developed by Superboom Projects Sdn Bhd, held a dinner to fete its customers recently. Contractors, suppliers, bankers, valuers, consultants, and purchasers were invited to view completed units and to enjoy some merriment, courtesy of the developer.

On track to be completed by middle of next year, the structure of all three towers compromising 26 floors, with 497 units, has been completed. Works on the jogging track is near completion and the swimming pool will start after Chinese New Year. Peter Chan, CEO of Superboom Projects Sdn Bhd remarked that the Haven has passed the half-way mark in sales with almost 70% of the condominiums sold. The condos are said to have the lowest selling price per square feet in the country for luxury condos. Sales to locals are in excess of 50%. The current prices are a bargain, as it is not yet reflective of its status as a resort condo. This is confirmed by Chris Boyd, Malaysia’s Executive Chairman of CBRE, the world’s largest realtor. The Haven won the Best Resort Condo Award in the country last year.

Guests visited the different kinds of units available at the site. Surrounded by a 4-ha hilly terrain fringed by pristine tropical forest, the Haven comes with high quality finishing and eco-features like solar energy and rainwater harvesting. Every inch of each unit is put to good use, as the design is meticulous. There is no need for renovation, unless the owner requests. Buyers present at the function were overjoyed with their purchases and voiced their appreciation openly.

Incidentally, the purchasers have contributed a congratulatory ad to show their appreciation to the developer (see page 7). This is probably the first time ever a developer is appreciated in public by his customers.


The Haven Bags International Quality Award

David Yam receiving the BID International Arch of Europe Award from President and CEO Jose E. Prieto, Frankfurt June 27

The Haven Lakeside Residences, Tambun bagged the International Arch of Europe Award at its 25th International Quality Convention held in Frankfurt, Germany, on June 27. Dubbed the “Oscar of the Business World”, the award recognises quality and excellence of companies that invest great effort in improving their products and services.

The Haven’s David Yam received the award from President and CEO, Jose E. Prieto of Business Initiative Directions (BID), a leading private organisation awarding companies worldwide.

The citation says, “The Haven was named winner of the 2011 BID International Arch of Europe Award in Frankfurt, a trophy that BID presents to those companies from around the world that are dedicated to high standards of excellence and innovation in their practices and focus on quality first.”

Malaysian companies previously awarded were Universiti Tenaga Nasional, Permodalan Nasional Berhad, and YTL Power Services Sdn Bhd.

Co-principal Peter Chan said it was an honour for the company to have been rewarded for its entrepreneurial achievements and also its role in quality and innovation, two key requirements for receiving the Business Initiative Directions Quality Award. He was humbled by the recognition considering that fellow winners were global companies from the Fortune 500 list.

They are Operadora VIPS, Wal-Mart, Turner Construction International LLC, Indian Oil Corporation, Tata Elxsi and Hong Yuen Electronics Ltd.

Moonlight and Magic at The Haven as Contest Winner Walks Away With RM25,000


It was truly a magical evening with a full moon that cast a silvery glow over the entire site of The Haven Lakeside Residences in Tambun on January 22. The occasion was the announcement of winners of The Haven’s “Name the Rock” contest organised by Superboom Projects Sdn Bhd, developers of The Haven.

The contest winners had come from far and wide to receive cash prizes totalling RM50,000. The press and public were invited to witness the exciting finale to a month-long contest that had attracted over 2,000 entries from all over the world, including Hong Kong and the Middle East.

Rockhaven Wins

Lydia Teh (centre)

In the end, the lucky winner was Cambridge English for Life Centre Manager Lydia Teh from Kuala Lumpur, who took the RM25,000 grand prize for her name for the rock, which was simply “Rockhaven”. The overwhelmed mother of four was at a loss for words when she was informed that she was the grand prize winner.

“I found out about the contest from a random contest website and decided to take part just for fun. I had submitted three entries and did not know until the final moment which name had won the prize.

“I’m really delighted and this is the best ang pow for me just in time for Chinese New Year!” said Teh, who had come with her family to Ipoh to collect the prize.

A panel of three judges, headed by Ipoh Datuk Bandar, Dato’ Roshidi bin Haji Hashim (the other two were Professor Dr. Bernard Pierson, Shell Chair at Universiti Petronas, and Ms SeeFoon Chan-Koppen, director of Ipoh Echo)  selected the winning name “Rockhaven” for its simplicity and the fact that it would be immediately associated with The Haven.

Extensive Geological Study

Peter Chan

The Haven has been home to this 14 storey high imposing rock for more than 260 million years, according to Professor Dr. Bernard Pierson, who dated the rock after an extensive geological study into it. “Only three other places in the world have such rocks – Guilin, Halong Bay and Phuket. So Malaysians, especially Perakeans, should be very proud of the fact that we have such a rare species of geology in our own backyard, so to speak,” says Prof Dr. Pierson, who is passionate about his work. CEO of Superboom Projects Mr Peter Chan said that the contest was inspired by the rare geological find that the rock represents.

“We are very conscious of the environment and every effort is being made to ensure that natural state of the site of The Haven Lakeside Residences and its surrounding areas are carefully preserved. The rock and the pristine lake in which it rests will be left untouched so that our residents can enjoy them in their natural state,” said Chan.

Chan added that the lake was a “live” one that was home to many varieties of fish and other lake life.  “We are very excited at the geological discovery by Prof Dr. Pierson and organised the contest to name the rock so that Malaysians and even people around the world will get to know about ‘Rockhaven’ and visit it,” Chan said.

Supermodel Amber

Amber Chia

The magical moonlit evening was also given some “star attraction” by the special appearance of Malaysia’s Supermodel and celebrity Amber Chia, who gave away the prizes.

“It’s such a beautiful night and I am so happy to be here to see the rock for myself at night. It looks truly magical, with the full moon reflected in the lake in which the rock sits. I have been to The Haven before in the day, and was so impressed that I immediately booked a unit. But at night it is truly a magical experience”, says Amber Chia, who is from Ipoh but now is based in KL. Amber bought a condo at The Haven “for investment as well as for “holidays here with my family, especially my husband and newborn baby son.”

Winning Slogan

Lee Tak Lung (centre)

The winning slogan, “Brings heaven, earth and man closer together” – submitted by Mr Lee Tak Lung from Penang – earned the top prize of RM5,000 cash.

The Haven is an eco-resort development on the edge of a virgin forest, surrounded by limestone hills and with a pristine lake that is only minutes away from the city centre. When complete, its three tower blocks will be the tallest buildings in Ipoh, equipped with full five star condo facilities, and state of the art security. Two of the three blocks are almost sold out. The remaining tower, Tower B, will be unveiled on 30 January in conjunction with The Haven’s official launch, with special launch promotions for the first 50 buyers.

More information is available from 1-700-8-1700-0 or www.thehaven.com.my.