More launches of 3-storey homes at Setia Alam Precinct 11 following good response

SHAH ALAM (Nov 11): S P Setia Bhd is launching 3-storey terraced homes Decora and 3-storey linked semi-dee homes Eximia this Saturday (Nov 12) at Setia Alam’s Precinct 11.

Precint 11 faces the wetlands park in Setia Alam, allowing homeowners to enjoy a natural setting, Setia Alam general manager Tan Siow Chung told TheEdgeProperty.com.

“There will be a total of 82 units of Decora priced from RM860,000 onwards and 48 units of Eximia priced from RM1.27 million onwards,” said Tan, adding that the developer had received an overwhelming 2,000 expressions of interest to date for the homes.

Built-ups for Decora range from 2,370 sq ft to 2,731 sq ft with a land size of 20ft by 65ft.

Eximia’s built-up sizes range from 3,194 sq ft to 3,686 sq ft with a land size of 32ft by 70ft. The back of an Eximia linked semi-dee unit will be linked to the back of another unit.

Both Eximia and Decora units offer 5 bedrooms and bathrooms.

The gross development value of Eximia and Decora is estimated to be RM63 million and RM76 million, respectively.

The two products will have a modern contemporary design. “For example, our Eximia semi-dees will have a nice glass balcony on the top floor. I believe when you have a nice balcony, people will tend to utilise it more. For Decora, it has a glazed-glass façade which allows natural lighting to penetrate,” Tan explained.

These two launches come under the Setia 10:90 scheme, whereby purchasers pay only 10% upon signing the Sale and Purchase Agreement and pay the balance 90% only after the completion of the property.

S P Setia had earlier this year launched Edulis and Retusa 3-storey terraced homes and 3-storey linked semi-dee homes in Setia Alam.

“Retusa and Edulis are almost sold out with just a few units left,” said Tan.

He noted that these products target mainly first-time homebuyers as well as upgraders.

“Especially for upgraders or buyers with existing properties, they do not have to worry about the payment of the house until the house is completed. That gives them the time to sell off their old house while waiting for their new home to be completed,” said Tan, adding that some of the buyers include those who are already staying in Setia Alam and are looking for a bigger home to accommodate their growing family.

“These two products also suit multi-generational living as we have a comfortable guest room on the ground floor suitable for the elderly in the family,” Tan added.

The development is targeted for completion at the end of 2018.

The Setia Alam township is easily accessible via the New Klang Valley Expressway through the Setia Alam link or Jalan Meru and has many amenities nearby such as Setia City Mall and Setia City Park.

“Setia Alam is a mature township with plenty of amenities. We have our residential units, offices, schools, convention centre and commercial units all in place. Ten years ago, you could buy a property here for RM200,000. Today, the value has appreciated more than 200%,” said Tan.

Tan also noted that there will be more similar launches in the future in Setia Alam.

“Next year is expected to be a soft year for the property market. However, S P Setia is confident that we will continue to do well with our varied range of products to cater to our homebuyers’ needs,” Tan said.

This story first appeared in TheEdgeProperty.com pullout on Nov 11, 2016, which comes with The Edge Financial Daily every Friday. Download TheEdgeProperty.com pullout here for free.