Setia Sky Vista

Setia Sky Vista is a high end residential development located in Relau, Penang. Tenure for the units here are to be freehold, and as indicated by the Setia moniker, this is a development by the developing giant, SP Setia. It is scheduled to be launched in November 2013.There are a total of two blocks in Setia Sky Vista, one block has 30 storeys whereas the other has 34 storeys. Units come with either 2 or 3 bedrooms, and has a built up ranging from 973 sf to 2,141 sf. Each floor would have 10 units, and prices start from approximately RM500,000 for the smallest units. Units here come fully equipped with air conditioning and heater water system, reducing the hassle for potential buyers of installing their own. Setia Sky Vista is located in Relau, but its exact location overlooks the enchanting skyline of Sungai Ara. Located on level 18 is a sky bridge, linking the two towers of Setia Sky Vista together. Facilities will be located on the 7th floor, where there would be a gymnasium, aqua gymnasium, sauna, foot spa pool and jacuzzi. There will also be a pool area equipped with an infinity adult pool, wading pool and children's stream play area. Outside on the grounds, there would be landscaped gardens, jogging tracks, reflexology tracks along with barbecue areas.The nearest shopping complex to Setia Sky Vista is the Prangin Mall Shopping Complex, and the Bukit Jambul Complex. Further away but still relatively near is the Queensbay Mall and Sunshine Farlim, roughly 5 kilometers away. The nearest township near Setia Sky Vista is the Bayan Baru township, near Bayan Lepas which is also known as Jamestown. Banks and eateries could be found here easily, as this is Penang after all. The nearest hospitals are Hospital Pantai Mutiara to the South-East, or Hospital Balik Pulau to the west. Fairview International School is located less than 2 kilometers away, and other schools in the area include SMK Bukit Jambul, and Straits International School. Accessibility to Setia Sky Vista is rather limited at the moment, but it is expected that once development completes that other roads will be created into the area. Currently, there is only one way into and out of the area, which is through Lebuh Relau off Jalan Paya Terubong. Lebuh Bukit Jambul is a shortcut to bypass Bayan Baru township from Georgetown.

Property Details

Name: Setia Sky Vista

Address: Relau, Penang

Developer: SP Setia

Completion Date: Q1 2018 (estimate)

Type: Condominium

Tenure: Freehold

No. of Blocks: 2

No. of Storey: 30 & 34

No. of Units: 426

No. of Bedrooms: 2 - (3+1)

No. of Bathrooms: 2 - 4

Land Area: 7.2 acres

Built-up: 926 sf - 2,141 sf

Maintenance Fee: RM0.25 (estimate)

Launch Price: From RM500,000

Facilities

Gymnasium

Aqua gym

Water features

Children's stream play area

Infinity swimming pool

Sauna

Wading pool

Foot spa pool

Jacuzzi

Barbecue area

Landscaped gardens

Yoga area

Jogging tracks

Reflexology tracks

Analysis

SP Setia is a company that needs little introduction; their Penang projects in particular are often instant sell-outs. SP Setia has a land bank of 44 hectares in Penang alone, where it plans to develop some RM3 billions worth of properties over the next five years. One of their residential developments in Sungai Ara named Reflections has appreciated by 60 - 70% in a little less than 3 years.One area for concern is the surrounding area of Relau, which is rather underdeveloped. The surrounding area consists almost wholly of flats and low cost housing. Congestion is also another issue but that is common with the majority of properties located in Penang. But one good thing is that towards the west of Penang via Jalan Sardon is always clear even during peak hours.There are concerns about the oversupply of residential units in Penang over the next few years when the majority of the developments complete, but Setia Sky Vista is located smack in the middle of Penang; the argument could be made that once the western side of Penang is more developed, Relau could potentially be a really good location. But currently the emphasis is more toward the Georgetown and Butterworth area where the proposed underwater tunnel between the two townships are being proposed.