BY DAVID TAN
Attractive pricing: Ng posing with a scale model of the Setia Sky Ville project. The company has undeveloped landbank of 56.6ha on the island.
GEORGE TOWN: SP Setia Bhd plans to launch RM3bil worth of properties on the island over the next 10 years.
Group general manager Ng Han Seong said that the company had undeveloped landbank of 56.6ha on the eastern side of the island, Tanjung Bungah, Jelutong, Teluk Kumbar, and Balik Pulau.
“We expect to launch at least one project per year. There will be a mixture of high-rise and landed properties planned for our future launches,” Ng said at the unveiling of the RM470mil Setia Sky Ville project in Jelutong.
Setia Sky Ville will be launched on Nov 5.
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On the weakened property market, Ng said the property cycle would usually last two to three years. “The trend is the same globally,” Ng said, adding that the company launched the Setia Sky Vista project in Relau last year which had seen a 55% take-up rate.
“The pricing from RM650,000 was very attractive. The built-up area ranging between 1,100 sq ft and 1,400 sq ft is sizeable. Because of the success, we are now launching Setia Sky Ville in Jelutong.”
