SP Setia to launch Setia Eco Templer township with RM2bil GDV

SP Setia Berhad executive Koe Peng Kang(third from right) explaining their project to AmBank Group chief executive officer Datuk Sulaiman Mohd Tahir(centre) at the signing of the Banking Facilities for Setia Eco Templer at Templer Park,Rawang.With them are (right to left) SP Setia Berhad deputy president & coo Datuk Wong Tuck Wai,CEO Datuk Khor Chap Jen and AmBank officers.

RAWANG: Property developer SP Setia Bhd group will launch a new township, Setia Eco Templer, next month, with a RM2bil gross development value (GDV).

Located on the former site of the Perangsang Templer Golf Club in Templer Park in Rawang, the 7.69ha township will comprise residential and commercial properties, said president and chief executive officer Datuk Khor Chap Jen.

“The master plan for Setia Eco Templer features English, Balinese or Peranakan themed architectural designs. It will take about seven years to complete from the date of launch”, he added.

He was speaking at the signing ceremony for a RM315mil banking facilities agreement with the AmBank Group on Monday.

AmBank, represented by its group CEO Datuk Sulaiman Mohd Tahir, has also granted a RM200mil working capital term loan to SP Setia for the project.

The banking facilities will launch phase one of the township development’s master plan, which includes provisions for link villas, semi-detached homes, bungalows and affordable apartments, supported by a palatial clubhouse, to service residents’ leisure needs.

Construction of the first phase one is targeted to start in June with GDV estimated at RM400mil.

SP Setia will build a RM25mil interchange connecting directly to Jalan Ipoh-Rawang, to serve the Setia Eco Templer community. It will be completed upon vacant possession of Setia Eco Templer’s first phase. - Bernama

* See also AmBank Group sees higher loan growth next year