S P Setia gears up for more launches in 2017

S P Setia Bhd is back stronger than ever as the No 1 property developer in the country. Having clinched the top spot eight times in The Edge Malaysia Top Property Developers Awards (TPDA) ranking since 2003, it made a comeback and grabbed the top spot once again in 2016, bouncing back from fourth and third placing in 2015 and 2014 respectively.

No other developer has yet to break this record since the inception of the TPDA, which is the anchor award of The Edge Malaysia Property Excellence Awards. The group has its presence in three key economic domains of Malaysia, namely the Klang Valley, Johor Bahru and Penang, besides a project in Sabah. On the international front, they have projects in Vietnam, Australia, Singapore, China and the United Kingdom.

“We are elated to be ranked Malaysia’s No 1 property developer. Our victory is attributed to the strong team work that is the hallmark of Setia’s culture as well as the breadth of our expertise and experience ranging from eco-townships to integrated developments, niche developments, landed or high-rise residences, and affordable properties,” shares S P Setia president and CEO Datuk Khor Chap Jen with TheEdgeProperty.com.

Despite the soft property market, Khor says the group has planned its launches strategically based on the location of each development and the needs of the communities in the surrounding areas.

As demand for mid-range landed properties and affordable housing remains strong in the current challenging environment, the developer has focused on meeting these needs.

“We have our townships which is our bread and butter, to cater to these demands,” adds Khor.

“For example, earlier this year, we launched Eco Templer in Selayang as we saw the increased demand for eco-living lifestyle landed properties within the Selayang catchment. Similarly, we’d launched ViiA Residences at KL Eco City in view of the growing demand for integrated urban living.

“Over at Seputeh, we saw the underlying demand for premium high-rise living in this mature neighbourhood and that led to the launch of Setia Sky Seputeh. Sky Seputeh’s concept is akin to living in a semi-detached house or bungalow in the sky,” Khor explains.

Khor emphasises that in all their developments, accessibility and sustainability remain the company’s top priorities.

“We have and will invest in developing the infrastructure before the residents move in to the development. We had spent RM80 million to build the interchange connecting Setia Eco Hill in Semenyih to the Kajang-Seremban Highway, RM250 million for the Setia Alam-New Klang Valley Expressway (NKVE) highway link connecting Setia Alam to the NKVE and Jalan Meru, Klang.

“At Setia Eco Glades in Cyberjaya, we already have our own dedicated interchange to Lingkaran Putrajaya, which provides quick access to the Maju Expressway and the North-South Expressway Central Link highway. Meanwhile, Aeropod, Setia’s maiden project in Sabah will boast four flyovers, which are part of the traffic dispersal scheme built and funded by us,” he says.

He adds that S P Setia also constantly strives to deliver products of good quality and on time if not ahead, citing Parque Melbourne, Setia’s second project in Melbourne, which will be completed mid this month, two months ahead of schedule.

On top of all that, the developer also takes steps to build and sustain the communities by providing platforms for the townships to grow. Just last week, S P Setia unveiled the new extension to Setia City Convention Centre, which is anticipated to bring additional footfall to the township and add to the vibrancy of the commercial precinct in Setia Alam.

The group also provides assistance to the communities in its townships to establish residents associations, organise communal activities such as festive celebrations, recycling, kids’ events and sports throughout the year. It also focuses on providing amenities such as recreational parks,” Khor shares.

This year, S P Setia launched Citizen Setia, an exclusive platform which rewards all the company’s existing purchasers with elite lifestyle experiences such as travelling, gardening, musicals and first movie screenings.

“It is our way of engaging with our existing customers and to thank them for their unwavering support,” he says.

The group is gearing up for more project launches next year. As at June 30, the group has 29 ongoing projects and 3,805 acres in undeveloped landbank remaining with an estimated RM71.5 billion in gross development value.

“At the same time, we recognise that this is an opportune time to replenish our landbank, thus we are aggressively on the lookout for land to acquire both locally and internationally,” says Khor.

He adds that the group will continue to launch landed and affordable properties to suit the current market demand. It will also launch niche products for the underserved market in specific locations. The Malaysian market can expect new launches from the Setia Eco series such as Setia Eco Park, Setia Eco Templer and Setia Eco Glades.

It will also be launching Trio by Setia, an integrated development which is located in front of the light rail transit transportation hub in Klang, while over in Melbourne, Australia, it is looking at launching two new projects.

“We believe the property market will continue to be challenging in 2017. However, we are prepared to meet the challenges with strategic product launches that will suit market demand that reflect the underlying interest in good quality products in strategic locations as well as niche projects that cater to the various underserved markets,” Khor concludes.

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