Oh why?

Green project in honour of Templer

source: Starbiz
SP SETIA executive vice-president Datuk Koe Peng Kang is excited about Setia Eco Templer, a leasehold gated and guarded 194-acre development about 20km from the city and 10km from Rawang commercial area.

When SP Setia bought about 4,000 acres in what is now known as Setia Alam, the property development circle thought the company has gone off its rockers as access was limited. The company subsequently built highways to provide access and the township is thriving with a heavy ecology theme.

Setia Eco Templer is naturally endowed. But it is too small to be called a township but the merits of the land is the environment and the neighbouring Templer’s Park, a forest reserve of more than 1,000 ha.

The project, a 70:30 joint venture with Kumpulan Perangsang Selangor Bhd (KPS), came about after it successfully tendered for it in 2013.

Under the agreement, it will guarantee KPS a sum of RM140mil to be paid within three years or 13% of the gross development value (GDV), whichever is higher. The project is expected to have a GDV of about RM2bil.

Under the agreement, the developer is to develop the land, market and sell the commercial and residential units. It will have a total of 900 landed units and 900 units of affordable housing when completed.

Setia Eco Templer phase one is inspired by Sir Gerald Templer, a British High Commissioner in Malaya between 1952 and 1954. The essence of phase one comes with the tagline, Legend of the Nine Creeks.

There is a lake, a river and eight streams which flow from the hill into phase one. The river and streams have been given British names like Carson Creek and Bramble Creek in honour of Templer’s British origins.

The first phase to be launched this weekend covers a total of 234 landed housing units comprising six bungalow units, 54 semi-detached units and 174 linked villas.

Koe says the company will make the pristine green surroundings its main selling point.

There are also a couple of limestone hills in the area. The beauty of the place has attracted another golf course to be established there years ago, Templer Park Country Club. While the neighbouring golfer’s paradise by acclaimed golf course architect Kentaro Sato has continued to thrive since its opening in 1991, the Perangsang Templer Golf Club fell into dilapidation. So the owners decided to convert it into a residential development with some commercial element to serve the locality. This means Setia Eco Templer is sandwiched by the nature reserve on one side and the Templer Park Country Club on the other.

Koe says the undulating contours will be maintained to preserve the beauty of the place.

“We will not level it. We will enhance the rivers and streams. We will not built over them but will respect and appreciate their presence. Some of them will be widened.”

Looking over the piece of land from the Perangsang clubhouse where the sales gallery will be located, Koe says the development will not intrude into nature’s sanctuary and the lives of the animals there.

The wildlife and national department was strict with the development in the area and the company had to meet a lot of conditions in order to get development approvals.

The trees will be transplanted and suitable ones planted to provide food for the small animals and birds. The temperature is 1 to 2 degrees lower than the city, Koe says. These are the merits of the area.

10:90 package

Phase one will be sold on a 10:90 package. “It is similar to how properties are sold in Australia. In London, it is on a 20:80 basis. The buyer pays 10% and the rest on completion of the unit after he takes vacant possession. In the event he changes his mind, he loses only 10%,” he says. Koe says he is aware of overhang concerns.

“This is a landed project. Good property in a beautiful environment like this will never see a drop in value. When the economy recovers in three years, the value will move up accordingly,” he says. On issues of security, he says Setia Eco Templer will be a gated and guarded development. Koe says the developer has thought of various security issues like tailgating and these will be dealt with, he says.

On the electric pylons which are visible from Jalan Rawang itself, he says the nearest house will be one km away.

Because nearby amenities are important, they will also be having a five-acre commercial development.

To counter future issues of congestion, they will build additional infrastructure. Their target audience is expected to be from Selayang, Rawang and Desa Parkcity and the larger Kepong itself.

Rawang is one of several second-tier locations which have come under the radar of property developers. Mah Sing Group has the freehold M Residence project comprising more than 200 acres and there are other developers who have standalone piecemeal projects from Selayang right up to Rawang itself.

When buying in these locations, buyers’ main concerns tend to centre around security, which means SP Setia must really keep its finger on this aspect as it goes about its branding exercise.

This post has been edited by Jasoncat: May 7 2016, 03:42 PM

Yes it is. It's a new project.

900 landed + 900 units high rise on 194 acres - low density is possible. It would be nice if the high rise is at least mid range and above.

Setia Eco Templer's first phase sees buyers camping overnight

source: TheEdgeProperty.com

PETALING JAYA (May 14): S P Setia Bhd's Setia Eco Templer project near Templer's Park in Kuala Lumpur saw about 60 potential buyers camping at the sales gallery there since Friday night as they seek to secure their preferred units, said executive vice-president Datuk Koe Peng Kang.

"They came to choose their preferred units, which are close to the rivers and lakes. Even now (6:40pm) we are still selling homes," he told TheEdgeProperty.com.

The first phase of this township features 176 units of 2-storey linked villas with built-ups of 2,394 sq ft, 2,626 sq ft and 2,965 sq ft; 52 units of 2-storey semi-detached homes with built-ups of 3,492 sq ft and 3,482 sq ft; and six units of 2-storey bungalows with a built-up of 4,214 sq ft.

Prices of the units range from RM850,000 for the link villas to RM1.7 million for the semi-detached homes while the bungalows are priced at approximately RM 2.8 million.

According to Koe, most of the buyers were owner-occupiers upgrading from their apartments or older landed homes in Selayang, Rawang, and Kepong.

However, there were also a few buyers from Petaling Jaya and Sungai Buloh, he added.

"They prefer to live in a gated-and-guarded community, and they seek a developer who can manage it well," he said.

The homes are sold under the developer's Setia 10:90 programme, which requires buyers to pay only 10% of the price first and the rest after the property is completed.

"This provides great financial flexibility and freedom of up to three years for purchasers’ financing options and they will not have to miss out on investment opportunities that benefit them in the future," said the group in a statement today.

The 194-acre Setia Eco Templer is located on the former site of the Perangsang Templer Golf Club in Templer Park.

It is a joint-venture development between Setia Eco Templer Sdn Bhd and Cash Band (M) Bhd.

This township has a low density of only 9.5 units per acre.

Facilities include a clubhouse with an Olympic-sized swimming pool, gymnasium, ballroom, function rooms, and F&B outlets, among others.

From the website it appears that the landscape is quite extensive. Given that this is gated & guarded - stratified? All this largely justify the maintenance fee.
http://www.setiaecotempler.com.my/concept.aspx

I can accept the fact that the developer reserve some units to its staff / biz associates at some discounts but some preferred units need to be open to public as well.

No announcement to public about the reserve units but this is considered a common practice in this industry and people will still be buying / queueing long day to buy if they like the project.

The promotional video on YouTube I noticed 2 things - the landscape appears to me carry the shadow of Setia Eco Glades (a compliment though) and the contact number show the last 4 digit no longer the permutation of 2525 .

Well done!

While forum could be a good platform for exchange of info and views, some (in fact quite a lot) of those comments tak boleh pakai - have to use own judgement to make an informed decision. After all a lot of people just blow water here...

You are at the wrong thread... but fyi it shall be ready for use by 3Q16.

I supposed this built-then-sell project is governed under Schedule J (strata).

+1
Whether a productd sell or not is also very much dependent on the unique features (which can distinguish itself from others) apart from the usual criteria like location and pricing alone.

If it's governed under Schedule J then it is. Malaysian built-then-sell is a 10/90 model.

To clear your doubt, I would suggest that you take a copy of Schedule J (which is available online) and read.

This post has been edited by Jasoncat: May 17 2016, 09:38 AM

Confirmed strata-titled, thus will take 3-yrs for construction and completion. Based on the e-brochure (available on its website), it seems it's gateless.

Left only Semi D.

Given that Eco Templer is even higher end than SEH in general, SPS shall find no excuse to give a top notch security system.

"For G&G now, the requirement is that the house must be strata." - this depends on the local authority. Says IJM projects in S2 Seremban and SPS setia Ecohill in Semenyih, F&G but individual-titled.

This post has been edited by Jasoncat: May 17 2016, 04:35 PM

I reasonably believe SPS will extend the tenure to 99 yrs now or when handover else the buyers will lose out 20+ yrs instead of just 3 - 4 yrs being the norm. Buyers better confirm with SPS.