SP Setia to unveil upmarket projects

SP Setia Bhd will showcase 99 units of landed residential property with an estimated gross sales value of about RM64mil at the Star Property Fair 2010 from July 23 to 25.

Group general manager (north) S. Rajoo said the Setia Pearl Island scheme in Sungai Ara, Penang, comprising three-storey linked and three-storey semi-detached houses were targeted for launching end of this month and middle of next month.

The units, priced from M898,000 to RM1.5mil, each has built-up areas ranging from 2,740sq ft to 3,450sq ft.

The property, which forms the third phase of Setia Pearl Island project known as Isle of Conifer, has bigger built-up areas than the previous launches, higher quality specifications, and better landscaping designs.

“We are targeting these homes at those with the disposable income to upgrade their lifestyle and also to investors who want to invest in landed properties as a hedge against inflation,” he said.

SP Setia’s RM160mil Reflections condominium, launched in April, and 58 units of three-storey semi-detached houses for the Setia Pearl Island project, launched last October, will also be promoted at the three-day fair which will be held at G Hotel and Gurney Plaza.

Rajoo said SP Setia, which will be taking up four booths, had sold about 58% of the Reflections project comprising 317 condominium units priced from RM387,000.

The condominium facilities include a swimming pool, wading pool, Jacuzzi, sauna, gymnasium, mini basketball practise court, landscape gardens, squash court, reflexology path, and fitness platform.

He said they had also sold over 70% of the semi-detached units, priced from RM1.4mil.

Rajoo said the group was now offering its Invest Setia Home Scheme that allowed purchasers to pay a deposit of 2.5% of the selling price and obtain up to 95% loan.

Under the scheme, the developer will absorb the progressive interests during the construction period as well as the legal fees and stamp duty on the sale and purchase agreement and loan documents. - The Star


July 16, 2010 at 9:27 AMAnonymous

smaller land size 20ft x 65ft terrace even though the built-up is larger for a full 3 storeys (2740 sq ft) and selling at RM898k. The car porch would be just enough for parking 2 cars, smaller than Phase1 and 2. If you're interested in larger land, you would be disappointed bcoz all corner lots are sold out except one bumi reserve which would be released at a much higher price a year or two later.

July 16, 2010 at 5:40 PMsojourner

The price tag for terraces with that narrow size 20x65' and designed like match boxes, not attractive at all. With it being so close to the airport, I weary of the noise pollution with more travellers and the airport expanding for more flights.

July 18, 2010 at 10:34 AMCharice

The design for Casuarina is very nice and full 3 storey with built up of 2,740sq ft. That's explain why they are almost sold out without advertisement i.e for registrants only. Left only 6 units. Managed to book 1 unit facing the show village entrance. As for noise pollution, no worries, been staying in Isle of Aroa close to 5 months and can't hear anything from the airport...The best experience is when it rains, the whole place is practically like Genting Highlands, mist and clouds setting in, one of the best I have seen in Penang.

July 18, 2010 at 3:07 PMUnknown

better buy mah sing southbay residence. land 22x75 with built-up 3100sf, price rm980k.

July 19, 2010 at 5:06 PMCharice

Ai ya. Don't want to pay perpetual maintainance fees and sinking fund. Subsale price will be affected later on.

July 19, 2010 at 6:39 PMAnonymous

Agree with Charice. The attraction for Setia is individual titles, no maintenance or sinking fund which goes nowhere after 20 years. Also, price appreciation for gated strata titles is very slow and largely depending on how well the project is maintained.

However, I would prefer that Setia launch larger landsize compared to larger built-up. Ideal size should be 22x70 or 22x80 or even 20x70 is fine when we talk of RM898k pricetag. Also, for that price, one would expect clay bricks, iron truss roof, central copper piping for heater, conceal aircond piping and most important of all, insulated ceilings. We are talking of luxury and high class property here. I was very disappointed when Phase 1 and 2 don't come with such specifications. Setia definitely need to improve in workmanship. If the finished product is as good as E&O, I would definitely run and grab one unit without hesitation.

July 12, 2012 at 6:03 PMUnknown

Dinoann,you are great.How many house did you buy?can teach me more ?