S P Setia Records Encouraging Take-Ups In Q1 2021

·3-min read

S P Setia kick-started the year with positive take-up rates for its residential products as of the first quarter of 2021, despite the weak market sentiment that is expected of the property industry during the pandemic.

Acorus at Setia EcoHill 2, Semenyih was launched via a special online preview which saw its double-storey terrace units (20 ft x 65 ft) fully taken up before the Chinese New Year. Following this success, Acorus 2 was launched in March and attracted many home buyers with its reasonable price range. 70% of the units were taken up on the first day of its launch. Koh Sooi Meng, General Manager of Setia EcoHill was elated with the 100% take-up rate and hence had brought forward the launch of Acorus 2.

The latest phase of Setia Alam‘s Bywater Homes collection in Shah Alam, Plenum, also defied challenges of travel restrictions with an overwhelming response from its online launch in mid-March, as all its double-storey units (22 ft x 70 ft) were fully booked within an hour.

“We are elated by the overwhelming response received for Plenum attributed to the COVID-19 pandemic where there is higher realisation and demand for homes in matured townships that is safe and secured, surrounded by a variety of amenities and seamless connectivity infrastructures.

“With Plenum fully taken up, we are focusing on our latest serviced apartment offering, Setia City Residences, located next to Setia City Mall which recently opened its new wing, making it the largest mall in Shah Alam. Also in the pipeline are the last phases of the Bywater Homes collection targeted to be launched by this year,” said Setia Alam Divisional General Manager Tan Siow Chung.

Launched in January, Melodia1 in Alam Impian, Shah Alam, secured 99% take-up rate. These double-storey terrace homes are sized at 22 ft x 75 ft and have modern contemporary designs. Following Melodia1’s success, Melodia2 is next to be launched in the second quarter of this year.

“The Covid-19 pandemic is unprecedented in many ways. Restrictions on our movements had reinforced the importance of the home as a sanctuary and home office,” said S P Setia Executive Vice President Datuk Zaini Yusoff.

Following its launch in March, Carissa at Bayuemas, Klang, which offers 82 units of double-storey terraces (from 24 ft x 70 ft), has reached a take-up rate of 90% within the same month.

Meanwhile, not only did S P Setia’s mid-range properties reached excellent take-up rates, its premium-range properties made noteworthy achievements in attracting the attention of home buyers and investors alike.

With GDV of RM156 mil, Glades of Westlake, a unique modern-oriental concept which is the second last island phase of Setia Eco Glades in Cyberjaya, was launched towards the end of March and saw almost 70% of its double-storey semi-detached homes (41 ft x 85 ft) priced from RM1.8mil and bungalows (59 ft x 85 ft) priced from RM3.1mil booked within just 3 weeks after the launch.

Divisional General Manager Goh Tzen Sernz commented that the good take-up for the premium offerings was a testament to the faith home buyers have in the Setia brand and its lifestyle offerings. “We are confident that the demand will continue to rise for such products as more home-buyers are opting for a better living environment not just to live, but also to work.”

Setia Eco Park‘s Precinct Arundina in Shah Alam, which is Phase 1B with GDV of 114 million launched towards the end of March, has also seen 70% of its double-storey semidetached units (from 32 ft x 75 ft) priced from RM1.3mil taken up within a month. It has recently completed Central Park, which will form the green lung of the development with natural waterways and greenery to foster a healthy communal lifestyle.

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