JOHOR BARU: SP Setia Bhd is currently negotiating with several hypermarket operators and major retailers to set up outlets at its Setia Tropika project.
The interested parties were familiar names among Malaysians, said SP Setia unit Setia Indah Sdn Bhd divisional general manager, property division (south) Chang Khim Wah, declining to disclose their identities.
“Their presence in the Setia Tropika township will definitely boost the project,” Chang said during a media tour of the project yesterday.
He said the township was surrounded by housing estates such as Taman Impian Emas, Taman Kempas, Taman Anggerik and Taman Bukit Kempas, which had a combined population of 300,000.
The tour included a visit to the newly completed Setia Tropika interchange on the North-South Highway near Kempas, which will be officially opened by Works Minister Datuk Seri S. Samy Vellu today.
Constructed by Setia Indah, the RM18mil interchange directly connects the township at Jalan Kempas Baru to the highway.
In 2000, SP Setia spent RM10mil on its Bukit Indah township interchange to the Second Link and last year it completed the RM150mil interchange for its Bandar Setia Alam in Shah Alam to the North Klang Valley Expressway.
On Setia Tropika, Chang said two years ago, SP Setia was the first developer to introduce “contemporary looking and clean line homes” in Johor Baru.
Chang said the good response to the new architectural designs among house buyers prompted other developers to adopt similar designs in their projects.
He said the company had to-date built 1,400 residential and commercial properties in the township, and sold 80% worth RM260mil.
Chang said the RM2bil township on a 740-acre site would take another six years to complete, and eventually have 8,000 residential and commercial units and 40,000 residents.
He said 40 bungalows priced from RM800,000 would be launched in two months.
Chang said with the Iskandar Development Region and Singapore’s two integrated resort projects in place, the Johor Baru property market was expected to enjoy a boom.
He said SP Setia had no plan to expand to secondary areas in Johor such as Batu Pahat and Muar as the Johor Baru market still offered much potential.