Buying a slice of ‘haven’ in Bintan

By
/ EdgeProp
|
September 23, 2018 12:00 PM SGT

Property developer Peter Chan of The Haven Lagoi Bay, Bintan, believes the resort property offers an alternative investment and second home option for Singaporeans'

Peter Chan, CEO of The Haven Group, has a lot riding on his upcoming project in Bintan, Indonesia called The Haven Lagoi Bay. Sitting on a 60- acre (24.3ha) site, the project is estimated to have a gross development value of $1.4 billion when it is fully developed. It is Chan’s biggest project so far and also his first venture into Indonesia.
He was first shown the site for the Bintan Resort in 2012 by representatives from Salim Group, a stakeholder in Gallant Venture, a Singapore-listed investment company involved in commercial development and an integrated and master planner of industrial parks and resorts in Indonesia’s Batam and Bintan. Gallant Venture’s other stakeholder is Sembcorp Industries.
Chan: I found the site very alluring.It is pristine, with seafront, lakefront and riverfront views and the price was reasonable (Credit: Samuel Isaac Chua/EdgeProp Singapore)
“I found the site very alluring,” Chan recounts. “It is pristine, with seafront, lakefront and riverfront views and the price was reasonable.” Another attraction of the site was the proximity of Bintan to Singapore, which is just an hour’s ferry ride away.
Chan acquired the site at Lagoi Bay in 2013. Three years of planning followed thereafter, with DP Architects as the design architect. This June, Chan awarded a $288 million construction contract to China’s Yunnan Construction Investment Holding Group and Indonesia’s PT Total Bangun Persada, with the signing ceremony held at the Singapore Marriott Tang Plaza Hotel. The contract involves building six towers of condominium suites, a 250-room fivestar hotel and a convention centre with a capacity of 3,000. The development will be built in four phases.

First phase of two towers

The first phase will comprise two 26-storey towers with 278 condo suites each. The units are a mix of studio units and one- to three-bedroom typical units as well as executive units. Sizes range from 492 to 2,636 sq ft. Buyers will have either a lakefront or seafront view.
In addition to the two condo towers, the first phase of the development will include a 48,000 sq ft clubhouse with a massage spa, restaurants, a ballroom and children’s...