
New SP Setia Township Project in Semenyih - Setia Eco Hill - set to transform Semenyih this late 2012.
SP Setia Bhd set to buy land for future development in Malaysia
May 28, 2012 | Comments 0
Demand for high-end residential properties was on the rise in south Johor which has been intertwined with Singapore in economic activities.
The Star reported that SP Setia Bhd is allocating RM 1 billion (US$316.5 million) yearly to acquire new land for future development in the Klang Valley, Penang, and Iskandar Malaysia.
President and chief executive officer Tan Sri Liew Kee Sin said replenishing its landbank in the shortest time possible would place the company in a better position compared with other developers.
“Sufficient landbank is the life-line for us (developers) without which we could not properly plan our future projects,” Liew said after SP Setia’s award winning development Setia Eco Gardens in Iskandar Malaysia bagged the FIABCI Prix d’Excellence award at a recent ceremony.
He went on to say that the move was vital as the company would be able to continually launch new projects as the take-up rate for its properties was good.
Malaysia, Singapore, India, Taiwan, Russia, Hungary, and Switzerland were among the 14 winners of the 2012 FIABCI Prix d’Excellence Awards.
Liew said that among Kuala Lumpur, Penang and Iskandar Malaysia, getting new land in Penang was the most difficult due to the space constraint there and that those who managed to get land in Penang would go for high-density projects.
“In the Klang Valley, the next growth centres will be within the Kajang and Semenyih areas,” said Liew.

He said the upcoming My Rapid Transit system would help boost property development projects outside the existing development centers in the Klang Valley.
Developers have started to look for land in the new development centers now that there is better accessibility and connectivity within the central region due to the completion of the MRT.
Liew said on south Johor Iskandar Malaysia would drive the property market based on the progress and development taking place in the corridor over the last six years.
“Iskandar Malaysia is more compared with other economic growth corridors in Malaysia,” he said. “It is a well-known fact that Johor and Singapore are intertwined in economic activities during good or bad times due to their close proximity.”
Liew said the company was fortunate since all of its projects in southern Johor were strategically located within the flagship development of Iskandar Malaysia.
The ongoing projects include Bukit Indah with only 5 per cent left for development from the entire 610.68 ha, Setia Eco Gardens and Setia Business Park.
Liew said they will continue looking for property and that the remaining landbank would keep the company busy in Iskandar Malaysia in the next 10 to 15 years.
According to Liew on average, land prices in Iskandar had appreciated when the company first came 15 years ago and now the opening of the Eastern Link Dispersal Expressway and upgrading of several road have improved connectivity and accessibility.
SP Setia is the only Malaysian developer to have won four FIABCI Prix d’Excellence awards Setia Eco Park in Shah Alam won for Best Master Plan (2007) and Best Residential (Low Rise) Development (2011) and Setia Eco Gardens for Best Master Plan (2009) and Specialised Project (Purpose Built).
Source:
http://www.property-report.com/sp-setia-bh...-malaysia-21541
http://www.theedgeproperty.com/news-a-view...attraction.html
This post has been edited by izzudrecoba: May 31 2012, 12:00 PM
May 29 2012, 12:39 PM, updated 13y ago
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