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  • SP Setia To Launch Projects With RM10.3bil In GDV
  • SP Setia to launch projects with RM10.3bil in GDV

    Norhayati: ‘We are committed to building homes and communities via well-planned developments.’

    Norhayati: ‘We are committed to building homes and communities via well-planned developments.’


    PETALING JAYA: SP Setia Bhd plans to launch projects with a gross development value (GDV) of RM10.34bil in Malaysia in the next two years. According to the property developer’s group marketing general manager, Norhayati Subali, the three projects are Setia Eco Forest in Penang, Setia Federal Hill in Kuala Lumpur and Setia Eco Templer in Selangor.

    Setia Eco Forest is a mixed residential development of over 1,050 units with a GDV of RM1.1bil, Setia Federal Hill is a mixed development with a GDV of RM8bil while Setia Eco Templer is a township with a GDV of RM1.24bil.

    Despite the challenges of rising construction cost, an increasingly cautious financing environment and lower loan-to-value ratios adopted by banks, Norhayati told StarBizthat SP Setia continued to maintain quality and offer great value to its customers.

    “We are committed to building homes and communities via well-planned developments with accessibility and extensive amenities within one single location,” she said.

    This, she noted, was obvious in one of its recent projects, Setia EcoHill, which was launched early this year at a GDV of RM4bil.

    “We have 25,000 registrants to date. On Oct 11, we put up 760 units of semi-D, terraced homes and bungalows for sale on a first come-first served basis. More than 3,000 people turned up, while 960 queue numbers were given out, (including the additional) 200 extras (given out) on the waiting list,” she said.

    Some of SP Setia’s ongoing developments include the 2,525-acre township Setia Alam in Shah Alam, which has a GDV of RM8bil. Setia Alam has achieved a take-up rate of 95% for its units.

    Another project, KL Eco City in Kuala Lumpur with an RM6.4bil GDV, has seen a take-up rate of 81%. Comprising three residential towers, three corporate office towers, serviced apartments, a retail mall, 12 boutique office blocks and strata offices, it is SP Setia’s landmark project to develop a world-class sustainable eco-city within a city.

    On the overseas front, SP Setia is planning to launch the Parque in Melbourne, Australia, in the fourth quarter of this year. The development, which comprises 323 apartment units, has a GDV of RM800mil.

    Also, in January this year, the Battersea Power Station redevelopment project in London, led by the Malaysian consortium of SP Setia, Sime Darby Bhd and theEmployees Provident Fund, was officially launched. With a GDV of RM40.8bil, over 97% of Phase 1 has been taken up.

    On SP Setia’s participation in the Star Property Fair, she said it was growing to be one of the most popular real estate exhibitions in the country and was well-received by homebuyers.

    “We hope that through our involvement in the fair, we would be able to reach out to a greater number of customers to share with them the ‘Setia’ way of building homes. Our approach is a simple one, which is guided by our ‘LiveLearnWorkPlay’ development ethos,” she said.