SP Setia's Precinct 11 new launches exceed expectations

KUALA LUMPUR (Jan 13): SP Setia Bhd ( Financial Dashboard), the country's largest property company by market capitalisation, saw the launch of its 3-storey terrace houses dubbed "Caffra" fully taken up, as well as its 3-storey semi-detached Serrata homes 95% taken up, at Precinct 11, Setia Alam, Selangor within a day on Sunday.

Caffra offered 100 units, with a built-up of 2,330 sq ft and priced from RM783,000 per unit, while Serrata offered 44 units, with built-up of 2,800 sq ft and priced from RM1.13 million per unit.

"Response to the launch was overwhelming. Prospective buyers were seen lining up at Setia Alam Welcome Centre since Wednesday for the opportunity to book one of the 144 units released for sale," said SP Setia divisional general manager of property division (central) Tan Hon Lim in a statement today.

“The response from the market exceeded our expectations. This is a testament of the strong brand SP Setia has built based on our track record for the past 40 years,” he added.

Construction of the two projects have reached 50% completion, with full completion targeted by end of 2015.

Conceptualised in 2004, Setia Alam is a 4,000-acre township development, of which 2,550 acres and 791 acres are developed by SP Setia’s Bandar Setia Alam Sdn Bhd and Bandar Eco Setia Sdn Bhd, a joint-venture company with the Employees Provident Fund (EPF) and Great Eastern Life ( Financial Dashboard) under the development name of Setia Eco Park respectively. - The Edge Market