Under the terms of the Superboom-Tasweek deal, Tasweek will support Superboom developments and market The Haven in the Middle East. Superboom Projects CEO Peter Chan and Tasweek CEO Masood Al Awar signed the agreement during The Haven’s official launch in the presence of Perak’s Grand Minister Y.A.B. Dato’ Seri Dr. Zambry Bin Abd Kadir.
Upon its expected completion in 2013, The Haven’s three 26-storey residences will become the tallest buildings in the Malaysian province of Perak. Tasweek’s decision for partnership in the unique residential eco-resort follows recent trips to Singapore and Malaysia to assess local property and financial markets and identify potential business ventures. The company concluded that the strong fundamentals of Malaysia’s property sector would enable it to achieve sustained growth, particularly in the high-end residential segment.
“I am confident that the venture between Tasweek and Superboom will encourage other Malaysian developers to follow suit and form more foreign partnerships that will boost investments into the state, especially into high-end property. This is the first major agreement between a Perak developer and a Middle Eastern conglomerate so it could usher in more business activities between Malaysia and the UAE,” said Dr. Zambry.
“As Perak’s premier five-star international-standard luxury condominiums, The Haven was a natural choice as an addition to our international property portfolio. Its unique and beautiful surrounding environment located within the city and the solid reputation of Superboom Projects were other key considerations in our decision to join The Haven as partner. This is just the beginning of more productive ventures between Tasweek and Malaysia’s real estate community,” added Mr. Masood.
Commenting on the partnership with Tasweek, Mr. Chan said: “The response from the Middle East to The Haven has been very positive so our alliance with Tasweek will enable us to fully tap the market potential of the region. Perak is a particularly appealing market due to its steady property and land prices. It is interesting to note that we have to deal with the skepticism of overseas purchasers over our selling prices which they find unbelievably low. This reflects the good deal represented by our flagship luxury development.”
The Haven is strategically located in the midst of nature yet very near to the city centre. It is lauded for its eco-friendly construction which did not involve the cutting down of any trees nor the blasting of rocks. A 280 million-year-old rock formation located at the site adds further appeal to the development. The Haven is expected to play a key role in ensuring the success of the Perak’s ambitious development plan, ‘Perak Amanjaya,’ which seeks to transform the province into a well-developed area by 2015.
Tasweek Real Estate Development and Marketing uses over 20 years of innovation and leadership to provide a one-stop shop for real estate and related services and marketing. The company leverages its core competencies of networking and know-how to deliver products and services encompassing Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy.
