Strong demand for Setia Neo II project in Johor

CGS-CIMB Research lifts the target price for SP Setia from RM1.40 to RM1.82 as it rolls over to end-2022 based on FY23F book value (BV).

PETALING JAYA: S P Setia Bhd’s Setia Neo II terrace factory project in Taman Industri Jaya, Johor, has already reached a 60% take-up rate since launch on Sept 12.

With a gross development value of RM75.4mil, Setia Neo II has 56 units of double-storey terrace factories with a land area of 24 ft by 80 ft and 24 ft by 108 ft, priced from RM1.12mil.

“Setia Neo II would be able to fulfil the needs of business owners being well-situated in the industrial zone of Johor and having a flexible layout. We are receiving positive response from our buyers,” divisional general manager Saniman Amat Yusof said in a statement yesterday.

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