UAE's Tasweek to hand over Malaysia projects

Abu Dhabi property firm has built three towers in US$81m in central Malaysia

Tasweek CEO Masood Al Awar.

Tasweek CEO Masood Al Awar.

Abu Dhabi-based property company Tasweek Real Estate Development and Marketing will hand over the first of three towers in its US$81m development in Malaysia this month.

The Haven Lakeside Residences includes three 26-storey towers with a total of 497 luxury units, as well as a swimming pool, club house and running track.

About 85 percent of the units have been sold, Tasweek said.

Most of the buyers are from Singapore, China and Malaysia and the majority intend to retire there, the company said.

Prices ranged from MYR250,000 (US$81,859) to MYR1.41 (US$461,690) and were offered as part of a leasehold agreement over 99 years.

The first of the towers, named Acacia, will be handed over to management early February, with the other two towers – Banyan and Cycas – due to be completed in August.

The residences overlook a 14-storey-high, 280m-year old pre-Jurassic lime rock that juts out of the adjacent lake.

Located in the capital of Perak, Ipoh, the development is a joint venture with Malaysian developer The Haven Company and has won 12 international awards since its launch in 2011.

“For our part, this project is a vital part of our international portfolio and also speaks volumes about our commitment to excellence and responsiveness to the needs of the market,” Tasweek CEO Masood Al Awar said.

“We join our partner The Haven Company in celebrating this milestone and feeling great pride in being part of one of Malaysia’s top developments.

More than 600 guests including His Royal Highness Raja Dr Nazrin Shah Ibni Sultan Azlan Muhibbuddin Shah, The Regent of Perak, and Her Royal Highness Tuanku Zara Salim, The Raja Puan Besar of Perak, will attend a ceremony to mark the completion of Acacia.

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