SP Setia to launch the final tower of Setia City Residences

Setia Alam, the flagship development of SP Setia Bhd launched in 2004, has grown from an oil palm estate to an award-winning autonomous township.

Formerly accessible only via Jalan Meru, the 2,525-acre township in Shah Alam, Selangor, now has a wide variety of properties and is accessible via routes such as the New Klang Valley Expressway, Federal Highway and Lebuhraya Shah Alam.

Today, Setia Alam has a gross development value (VGD) of RM20 billion and the entire township is expected to be completed by 2027.

At its heart is the 240-acre town of Setia, which is expected to take Setia Alam to the next phase of growth. Currently the notable buildings are SP Setia Headquarters, Setia City Shopping Center, Setia City Convention Center, Audi Setia Alam Center, Top Glove Tower and Trefoil, which provide flexible office space for small offices.

City of Sétia

SC Tan, Managing Director of SP Setia, tells City Country that the developer owns approximately 100 acres of undeveloped land in the town of Setia. Three other corporate plots of approximately 2.5 acres each are for sale.

“We want them to be the headquarters of multinationals and publicly traded companies, iconic developments that will impress. Thus, we are particular to whom we sell the land. Because of the facade on the Persiaran Setia Alam, it’s good for a company’s branding, ”he says.

“There is a hotel under construction in Setia City – Courtyard by Marriott – which will be connected to the Setia City shopping center. What the convention center lacks today is accommodation for foreign guests, and this hotel will complement the convention center. The hotel was not built by us but that is fine with us.

Setia City Mall – a joint venture between SP Setia Bhd and Lendlease Development (Malaysia) Sdn Bhd – is also expected to be Shah Alam’s largest mall when Phase 2 is completed in the second quarter. When complete, the mall will have 1.2 million square feet in total.

Tan adds that the mall is currently over 90% occupied and the expansion is slated to open in Q3.

The clover is now 70% occupied. In Setia City, Setia City Residences is the only product currently available for sale.

Residences in the city of Setia

Located diagonally from the Setia City shopping center, Setia City Residences is a serviced apartment project offering a total of 780 units in three towers. The first two rounds – rounds A and B – were launched in

August 2016. Tan says that SP Setia plans to launch Tower C by the end of March.

“About 70% of towers A and B have been sold and are expected to be completed in June. We will launch unit 260

Tour C at the end of this month. Completion is scheduled for early next year, so C Tower buyers don’t have to wait long to get their units, ”he says.

“There will be dual key units in Tower C, which are not available in Towers A and B. The unique selling point of the project are the multi-level pools. Inspired by the natural terraced hot springs of Pamukkale, Turkey, they are divided into three terraces.

Setia City Residences has a GDV of RM 350 million. The C Tower units have built-up areas of 858 to 1,221 square feet and will include two to three parking spaces. Priced at RM 593,000 to RM 790,000, they will be fully furnished.

There will be underground parking and five levels of podium parking – levels three through seven – while the facility floor is on the eighth floor. The facility deck will include a variety of facilities, such as a yoga lawn, swimming pool, playground, gymnasium, jacuzzi, tennis court, spiral walkway, oval pavilion, a barbecue, a course and a reception room.

There will also be 10 commercial units on the ground floor, one of which will be a stand-alone building next to the building. These retail units measure between 3,822 and 6,655 square feet. Tan says these units will be rented first.

“We will only rent and sell them when we have the right mix of tenants. We want to make this development a healthy place, so we are selective in terms of who we rent the stores to. The self-contained retail unit will be our “jewel”, which is eye-catching and perfect for high-end café meals. “

He notes that SP Setia is looking to build more high-rise buildings in the town of Setia, with the possibility of including apartments, a small home office (SoHo) and layered offices, which will represent the “living, learn, work, play ”of the business. development philosophy.

“We don’t sell products per se; we sell the township… We never launched SoHo here, so we will find out and there will be more apartments as well. We are even considering stratum offices because we believe that as more and more businesses set up there will be a demand for stratum offices. We could also have a campus for higher education, since we have primary and secondary schools.

Source link

Kevin T. McElroy

Leave a Reply

Your email address will not be published. Required fields are marked *