S P Setia stamps its mark of excellence in Seraya Putrajaya

Setia Seraya Residences. *Artist's impression. (Images by S P Setia)

WHAT Louis Vuitton is to the international trunk industry is what S P Setia Group Bhd is to the Malaysian property field. The top developer has proven itself as a sharp visionary capable of identifying ideal locations where, coupled with its expertise and pursuit of excellence, it churns out sought-after and highly-valued products.

In an exclusive interview with TheEdgeProperty.com, its Divisional General Manager of Niche Development of S P Setia and also CEO of Setia Putrajaya Sdn Bhd, Paul Soh Hee Pin, affirms that the reputable brand has a strong following of repeat buyers.

Guided by the principle to be the best in all it does, its exceptional designs and innovative products have earned it several accolades including as nine-time winner of the FIABCI Malaysia Property Award, seven-time winner of the FIABCI Prix d’ Excellence Award, eight-time winner of The Edge Top Property Developers Award, Reader’s Digest Asia Trusted Brands Award, QLASSIC Excellence Award and many others.

Its track record is backed by successful eco townships such as Setia Alam, Setia Eco Park and Setia Ecohill in Selangor, and integrated developments such as SetiaWalk in Selangor, as well as luxury residences such as Setia Sky Residences and Setia Sky Seputeh in Kuala Lumpur, besides iconic developments in Penang and Johor. Overseas, the developer’s mark of quality is noted in housing projects in Melbourne and the Battersea Power Station in London. It also has a presence in Singapore with its Eco Sanctuary and 18 Woodsville projects, as well as as in Vietnam where it is developing its expertise of developing eco-townships to EcoLakes and EcoXuan.

“The best time to invest is yesterday,” Soh quips.

Amidst current unfavourable conditions, S P Setia’s mettle remains proven. Its recently launched Setia Eco Templer was 100% sold and its double-storey homes in Setia Alam, launched on Aug 27, drew a long queue with an outstanding 85% take-up.

The appeal of Putrajaya

Thus, when S P Setia steps into Putrajaya, industry watchers know there are good reasons. Though better known as the federal administrative centre for government bodies rather than a vibrant economic hub, it is precisely its tranquility that makes Putrajaya an appealing residential sanctuary.

Based on the “Garden City Intelligent City” concept, Putrajaya has been planned to conserve its existing wetlands and tropical rainforest into purpose-gardens, recreational lakes and parks. According to Soh, out of the 11,320ha, 650ha has been allocated for Tasik Putrajaya (Putrajaya Lake) which includes 197ha of wetlands. When completed, the city’s landscaped framework will be formed by 12 thematic parks with ample facilities for social, recreational and educational activities for both young and old. Ranging from a 92ha botanical garden to an equestrian park, a comprehensive sports site, an extreme sports park and adventure playgrounds, there are exercise stations, jogging tracks, gazebos and amphitheatres for picnicking, photography and bird-watching, as well as fishing, water rafting, boating and canoeing.

Relish the breathtaking view of Putrajaya at the Sky Garden.*Artist’s impression.

“Residents get to enjoy beautiful parks within a short drive,” Soh points out.

Birthed more than 20 years ago, Putrajaya has been purposefully planned as a liveable city with controlled density and restricted against over-development. Under the regulation of Putrajaya Corporation (PJC), the administrative agency under the Federal Territories Ministry of Malaysia, the whole area has been carefully mapped out with allotted sites for government departments, public utilities, recreational areas, government and public residences, community services, infrastructure, modern amenities and even security features.

The eco-tourism destination is also a world-class venue for international events such as the Hot Air Balloon Fiesta, Light and Motion Festival, Islamic Art and Culture Festival, Power Man Asia Championships, Royal Floria and Ironman 70.3.

In addition, Putrajaya is strategically located next to Cyberjaya, the MSC-certified city of Malaysia. “In fact, Putrajaya itself is also MSC-certified,” highlights Soh.

Spacious lanai area of a Type C unit. *Artist's impression.

The prestige of being part of Putrajaya

S P Setia has been playing a major role in Putrajaya’s formation, when it was commissioned in a joint-venture with Putrajaya Holdings to build the Prime Minister’s office and residence back in 1996. Thereafter, the JV company, Setia Putrajaya developed Precinct 9 with government quarters and public units of double-storey terrace houses, which is now a fully completed cosy township.

Viewing it as a privilege, Soh says: “S P Setia is proud to be associated with Putrajaya”.

Another township underway is Precinct 15. A stratified project with 119 units, named Alam Desa, was completed in 2011 and fully sold. A recent project dubbed Dwiputra Residences, has also achieved 100% sale. Phase 1 of Dwiputra Residences has already been handed over while phase 2 will be delivered end of this year. 

“A large majority of the buyers are owner-occupiers,” reveals Soh.

Olympic-sized swimming pool. *Artist's impression.

The potential of investing in Putrajaya

Soh stresses that as a liveable city, the value of properties in Putrajaya will not diminish. “I see only upside as development continues.”

“The best time to invest is yesterday,” he quips. “Land and construction cost is always going up. If you don’t purchase now, it will definitely be higher later.”

Soh says properties in Putrajaya has seen a steady demand with high appreciation and good rental yield. “Though tapered down within these couple of years, there is strong potential to grow. There is no oversupply in Putrajaya. Projected returns are about 20% to 30%. Our projects, delivered in 1Q 2016, have appreciated and has gained 30% appreciation.  Dwiputra Residences has been garnering RM2psf rental. There is no sign of slowing down and we are confident of steady increase,” Soh opines.

“Residences grow organically. The masterplan has been established from the beginning. There is tight control of development. Backed by the government, it is riding on ready-built infrastructure. As the population increases, all investments will experience tremendous growth. Based on the original masterplan, the projected population is 330,000 with about 67,000 residences when it’s fully completed,” Soh elucidates.

“Putrajaya already has excellent accessibility with additional large infrastructures such as MRT (Mass Rapid Transit) 2 and HSR (High-speed Rail) to be built,” Soh adds. “It is a safe and secure city, with CCTVs all around, monitored by the city control centre. The main roads are well linked to the highways.”

Putrajaya is also next to the matured township of Kajang with established amenities.

Barbeque space. *Artist's impression.

The draw of Precinct 15

Precinct 15 is a township of 812 acres, including a 340-acre Rimba Alam Park. It is a showcase of urban forestry combining a tropical ecosystem, nature trails and viewing platforms for camping and jungle trekking.

Located to the east of Putrajaya, Precinct 15 is adjacent to the diplomatic precinct, which is targeted for embassy development.

Complete amenities are close by, such as the Alamanda Shopping Centre and the IOI City Mall; Serdang Hospital and Putrajaya Hospital; Nexus International School, Universiti Putra Malaysia (UPM), Heriot-Watt University and Uniten; Putrajaya International Convention Centre, Putra Mosque and IOI Resort which houses a golf course.

It is linked via the Maju Expressway (MEX), New Putrajaya Link, B15 Highway, South Klang Expressway (SKVE), Kajang Traffic Dispersal Ring Road (SILK), Damansara Puchong Expressway (LDP), Cheras Kajang Expressway, Shah Alam Expressway (KESAS), Sungai Besi Highway (Besraya), North South Expressway and Elite Highway. KLCC is 30 km away while KLIA is 35 km away.

Public transportation is available by the Putrajaya Express Rail Link (ERL) and Nadi Putra bus.

Living and dining space of a Type B unit. *Artist's impression.

The luxury of Setia Seraya Residences

Setia Seraya Residences represents the city’s fashionable address. The company states that they are “superbly designed condominiums, optimising comfort and convenience with a unique modern elegance” within “a harmonious and refreshing environment”.

The low-density freehold luxury residences has 363 units. Priced from RM696,000, Type A has 1,002 sq ft with three bedrooms and two bathrooms, where all rooms enjoy balcony views of either the forest reserve, swimming pool or Putrajaya city. Type B measures 1,202 sq ft and comprises four bedrooms and three bathrooms, tagged from RM805,000. Type C boasts 1,420 sq ft and has three bedrooms and two bathrooms. Sold from RM1.001 million, it offers a spacious lanai area and a breathtaking view.

Situated on high ground and standing 143m with 40 storeys, Soh is certain that Setia Seraya will be the tallest residential tower in Putrajaya. Thus, its sky garden on level 22 will display unobstructed spectacular views.

As in all S P Setia’s developments, Setia Seraya is designed on the philosophy of live, learn, work and play. The full-facility condominium adopts much of S P Setia’s signature where it houses a swimming pool, wading pool, kindergarten, clubhouse, water feature, reflexology path, children playground, nursery and BBQ area. The inclusion of a ladies pool offers extra privacy by a landscaped partition. The lobby holds a hanging lounge and reading lounge. Each unit has two car parks.

Soh says Setia Seraya is the last public apartment in Precinct 15. Attractive sales packages are offered, and S P Setia’s Triple A Gold promotion is open until year-end, where there are substantial discounts to assist buyers through easy payment schemes. Bumiputeras get a 7% discount.

To be launched end of November, the registration of interest has already exceeded 1,300.

Setia Seraya targets those who live in the surrounding suburbs, those who work around the areas, investors and the international market, says Soh. 

With a gross development value of RM280 million, it is slated for completion at the end of 2020.

“It is an amazing place to live in and S P Setia is happy to be here,” Soh enthuses.

This story first appeared in TheEdgeProperty.com pullout on Oct 28, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.