By Sharen Kaur
Published in NST on Sept 2, 2013
SP Setia Bhd, the largest property developer by sales, will add two new projects to its portfolio, both of which have a combined gross development value (GDV) of RM15.5 billion.
The company has 34 ongoing projects and the undeveloped portion is worth about RM70 billion. Eight of these projects are in the United Kingdom, Australia, Singapore, China and Vietnam.
The biggest is the RM40 billion Battersea Power Station redevelopment project in London, a joint venture with the Employees Provident Fund and Sime Darby Bhd.
"We have bought land in Kuala Lumpur and Semenyih. The next frontier for us is to transform the sleepy part of Semenyih into a bustling city like what we did in Setia Alam. We will open up a new corridor and this will be a new driver for SP Setia," said SP Setia president and chief executive officer Tan Sri Liew Kee Siew in an interview recently.
SP Setia has 280ha in Rinching, where it is developing Setia Eco Hill, a mixed-development worth RM4 billion.
According to Liew, SP Setia launched 200 bungalow lots at RM100 per square feet three months ago and all have been sold.
The company will be launching doublestorey link houses this month, targeting those from Cheras and existing customers.
SP Setia also has 400ha in Beranang estate The development, Setia Eco Hill 2, is worth RM3.5 billion.
"We have set a benchmark for bungalow prices in Rinching. Everywhere we go, we price our properties 10 per cent above other developers.
We are the trendsetters," Liew said.
Meanwhile, the company expects to launch Setia Federal Hill here in 2015. The project, estimated to be worth RM8 billion, will be developed on the 20.64ha former site of the Public Health Institute off Jalan Bangsar.
The land was acquired by SP Setia as part of a land swap deal in return for building a replacement facility in Setia Alam.
According to Liew, the project will feature luxury residential apartments, offices, a performing arts centre and a mall.
Published in NST on Sept 2, 2013
SP Setia Bhd, the largest property developer by sales, will add two new projects to its portfolio, both of which have a combined gross development value (GDV) of RM15.5 billion.
The company has 34 ongoing projects and the undeveloped portion is worth about RM70 billion. Eight of these projects are in the United Kingdom, Australia, Singapore, China and Vietnam.
The biggest is the RM40 billion Battersea Power Station redevelopment project in London, a joint venture with the Employees Provident Fund and Sime Darby Bhd.
"We have bought land in Kuala Lumpur and Semenyih. The next frontier for us is to transform the sleepy part of Semenyih into a bustling city like what we did in Setia Alam. We will open up a new corridor and this will be a new driver for SP Setia," said SP Setia president and chief executive officer Tan Sri Liew Kee Siew in an interview recently.
SP Setia has 280ha in Rinching, where it is developing Setia Eco Hill, a mixed-development worth RM4 billion.
According to Liew, SP Setia launched 200 bungalow lots at RM100 per square feet three months ago and all have been sold.
The company will be launching doublestorey link houses this month, targeting those from Cheras and existing customers.
SP Setia also has 400ha in Beranang estate The development, Setia Eco Hill 2, is worth RM3.5 billion.
"We have set a benchmark for bungalow prices in Rinching. Everywhere we go, we price our properties 10 per cent above other developers.
We are the trendsetters," Liew said.
Meanwhile, the company expects to launch Setia Federal Hill here in 2015. The project, estimated to be worth RM8 billion, will be developed on the 20.64ha former site of the Public Health Institute off Jalan Bangsar.
The land was acquired by SP Setia as part of a land swap deal in return for building a replacement facility in Setia Alam.
According to Liew, the project will feature luxury residential apartments, offices, a performing arts centre and a mall.
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