SP Setia’s new growth catalyst

  • Business
  • Monday, 12 Jun 2006

Developers who strive to make a difference by acting as a catalyst of change and growth stimuli for the areas that they have projects in, stand to benefit from their proactive attitude. StarBiz assistant news editor ANGIE NG finds out why SP Setia Bhd is a good example of a developer that initiates positive changes through its projects 

SP SETIA Bhd sees strong sales ahead of its two flagship developments, Setia Alam and Setia Eco Park, with the improved accessibility via the soon-to-be-opened New Klang Valley Expressway (NKVE)-Setia Alam Link. 

The link, built at a cost of RM150mil, will be opened to traffic on Wednesday from 9pm. 

Group managing director and chief executive officer Tan Sri Liew Kee Sin said the healthy sales achieved for both Setia Alam and Setia Eco Park projects were largely attributed to the promised NKVE-Setia Alam Link. 

Since the launch of Setia Alam in April 2004, the combined total sales from Setia Alam and Setia Eco Park totalled more than RM1bil. 

Tan Sri Liew Kee Sin on the soon-to-be opened NKVE-Setia Alam Link

A total of 3,000 residential and shop units worth RM719mil have been sold in Setia Alam, while the higher-end Setia Eco Park has recorded sales of 500 units valued at RM355mil since its launch in July 2005.  

“We would not have managed to chalk up these sales numbers if we had relied solely on the single access road via Jalan Meru. Now that we have fulfilled our promise to make the NKVE-Setia Alam Link a reality, we are confident that sales in these two townships will be greatly boosted,” Liew told StarBiz.  

Upon completion in 10 to 15 years, Setia Alam and Setia Eco Park will comprise some 37,500 residential units and have a population of 150,000. 

Liew said SP Setia had learned that excellent accessibility and good master planning had always been strong selling points to spur sales of the company’s projects. 

“Comprehensive infrastructure and well-planned development rank high on house buyers’ list of must-haves.  

“Accessibility and amenities are two of the most important factors that influence buying decisions. Providing upfront infrastructure is our top most priority when undertaking new projects to meet buyers’ expectations,” he added. 

This understanding has been gained from the company’s experience of building other townships in Johor. 

Other infrastructure projects that SP Setia has undertaken include the RM10mil Bukit Indah Interchange to provide a direct connection to the Malaysia-Singapore Second Crossing from its Bukit Indah project. 

The 1,509-acre project located in Bandar Nusajaya was launched in 1997, and the Bukit Indah Interchange was opened in 2000 shortly, after the company delivered the completed houses to the first batch of residents for their convenience.  

A tastefully designed bunglow in Setia Eco Park

To date, some 8,000 units of houses have been sold in the township for a gross development value (GDV) of RM3.3bil. 

Liew said SP Setia was constructing a RM15mil link to provide direct access to the North South Highway at its newest project in Johor Baru, the 740-acre Setia Tropika in the booming Tebrau corridor. 

Expressing confidence that the NKVE-Setia Alam Link would spur greater growth for the North Klang-Shah Alam corridor, he said Klang’s population base of 700,000 people in Kapar, Meru, and the town area would be able to use the NKVE-Setia Alam Link to access the NKVE and travel to key destinations in the Klang Valley.  

An estimated 1.3 million population from the larger Petaling district covering Shah Alam, Petaling Jaya and the Damansara area will also be able to use the link to reach Klang.  

The new link will also facilitate smooth traffic flow from Klang to Shah Alam, Subang, Petaling Jaya, Damansara and Kuala Lumpur.  

Residents will get to enjoy the dual carriageway highway as the exclusive gateway to their township.  

The first batch of houses in Setia Alam was only handed over at the end of April 2006, while Setia Eco Park will do so in July. 

Setia Alam, on 2,524 acres, will comprise 25,000 houses and other commercial components for a GDV of RM5bil.  

The 791-acre Setia Eco Park project will comprise 702 semi-detached houses and 2,241 bungalows priced from RM600,000 to RM1.5mil. The development will have a total GDV of RM2.3bil. 

The new link will also facilitate smooth traffic flow from Klang to Shah Alam, Subang, Petaling, Damansara and Kuala Lumpur. The daily peak-hour traffic volume that is estimated from Setia Alam and Setia Eco Park will reach 44,000 vehicles once both townships are fully completed.  

Development of the two townships is fast under way with many of the landscaped parks, waterways and amenities provided for the residents.  

The townships are designed based on the green street concept with concealed utilities and retention ponds that comply with the storm water management system (Masma). 

Liew said besides enjoying the NKVE-Setia Alam Link as their exclusive gateway to Setia Alam and Setia Eco Park, residents would have a host of amenities at their disposal to satisfy their leisure, educational and entertainment needs.  

A Chinese school, SJK (C) Pin Hwa 1 is currently under construction and will be operational by next year.  

A Tamil school has been completed while government schools will be built soon.  

Upon completion, Setia Alam will have a total of 22 primary and 11 secondary schools. The Setia Badminton Academy is also being built. 

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