KUALA LUMPUR (May 7): S P Setia Bhd is selling eight parcels of plantation land in Johor to Scientex Bhd for RM518.1 million.
S P Setia said in a bourse filing its wholly-owned subsidiary Pelangi Sdn Bhd had entered into a conditional sale and purchase agreement with Scientex’s wholly-owned subsidiary Scientex Quatari Sdn Bhd for the disposal.
“The approximately 960 acres of freehold land is located in Mukim of Tebrau, district of Johor Bahru and registered for agricultural use. It is currently home to matured oil palm trees,” it said.
According to S P Setia, the sale consideration is arrived at between the parties on a “willing-buyer willing-seller” basis after taking into consideration the market value of the lands of RM480.8 million.
S P Setia’s president and chief executive officer Datuk Khor Chap Jen said the sale of the lands is part of the group’s business strategy to improve efficiency by monetising some of the land bank to be ploughed back into its other project developments for immediate launches as well as paring down debt or other use deemed fit by the company.
“It is expected to contribute positively to S P Setia’s profits for the next few years,” he said.
According to him, S P Setia currently has 11 ongoing projects in the Southern region, and post-sale of the above, the group will still have an effective total remaining land bank of approximately 7,569 acres.
“Our focus for this financial year is to optimise the current landbank utilisation and by launching properties that are in demand within our matured townships,” he said.
In a separate statement, Scientex said the proposed acquisition represents a strategic investment opportunity to increase and boost its existing land bank.
“The close proximity between Scientex’s existing developments and the proposed development will enable Scientex to generate better operational efficiencies through greater economies of scale to be achieved during project implementation,” it said.
It also said the landbank expansion is in line with the goal of Scientex to build more affordable homes with an objective of completing 50,000 affordable homes throughout the nation by 2028.
“The land is expected to provide a steady and sustainable property development model as Scientex continues to focus on affordably priced landed properties, for which demand continues to remain firm and resilient,” it said.
The group also noted the proposed acquisition will be funded by internally generated funds and bank borrowings.
The proposed acquisition is expected to be completed in the first half of 2024, it added.
S P Setia’s share price gained three sen or 2.91% to close at RM1.06 today, valuing the group at RM4.3 billion. Meanwhile, Scientex went up two sen at RM4.13, valuing the group at RM6.4 billion.
KUALA LUMPUR (May 7): S P Setia Bhd is selling eight parcels of plantation land in Johor to Scientex Bhd for RM518.1 million.
S P Setia said in a bourse filing its wholly-owned subsidiary Pelangi Sdn Bhd had entered into a conditional sale and purchase agreement with Scientex’s wholly-owned subsidiary Scientex Quatari Sdn Bhd for the disposal.
“The approximately 960 acres of freehold land is located in Mukim of Tebrau, district of Johor Bahru and registered for agricultural use. It is currently home to matured oil palm trees,” it said.
According to S P Setia, the sale consideration is arrived at between the parties on a “willing-buyer willing-seller” basis after taking into consideration the market value of the lands of RM480.8 million.
S P Setia’s president and chief executive officer Datuk Khor Chap Jen said the sale of the lands is part of the group’s business strategy to improve efficiency by monetising some of the land bank to be ploughed back into its other project developments for immediate launches as well as paring down debt or other use deemed fit by the company.
“It is expected to contribute positively to S P Setia’s profits for the next few years,” he said.
According to him, S P Setia currently has 11 ongoing projects in the Southern region, and post-sale of the above, the group will still have an effective total remaining land bank of approximately 7,569 acres.
“Our focus for this financial year is to optimise the current landbank utilisation and by launching properties that are in demand within our matured townships,” he said.
In a separate statement, Scientex said the proposed acquisition represents a strategic investment opportunity to increase and boost its existing land bank.
“The close proximity between Scientex’s existing developments and the proposed development will enable Scientex to generate better operational efficiencies through greater economies of scale to be achieved during project implementation,” it said.
It also said the landbank expansion is in line with the goal of Scientex to build more affordable homes with an objective of completing 50,000 affordable homes throughout the nation by 2028.
“The land is expected to provide a steady and sustainable property development model as Scientex continues to focus on affordably priced landed properties, for which demand continues to remain firm and resilient,” it said.
The group also noted the proposed acquisition will be funded by internally generated funds and bank borrowings.
The proposed acquisition is expected to be completed in the first half of 2024, it added.
S P Setia’s share price gained three sen or 2.91% to close at RM1.06 today, valuing the group at RM4.3 billion. Meanwhile, Scientex went up two sen at RM4.13, valuing the group at RM6.4 billion.
KUALA LUMPUR (May 4): S P Setia Bhd has proposed the establishment of an Islamic medium term note programme of up to RM3 billion in nominal value.
The property developer today lodged the Sukuk Wakalah Programme with the Securities Commission Malaysia (SC) pursuant to the SC’s Guidelines on Unlisted Capital Market Products.
“The Sukuk Wakalah Programme allows for the issuance of rated and senior unsecured sukuk from time to time, subject to total outstanding amount of sukuk wakalah not exceeding RM3 billion at any point in time,” S P Setia said in a bourse filing.
Meanwhile, Malaysian Rating Corporation Bhd (MARC) has assigned a preliminary rating of AA-IS with a stable outlook to the sukuk programme.
“Proceeds from the proposed issuance will largely be used to fund capital injection into the group’s joint-venture Battersea Power Station project and refinance earlier borrowings undertaken to fund this project,” MARC said in a statement.
HSBC Amanah Malaysia Berhad is the principal adviser, joint lead arranger, joint lead manager and shariah adviser for the the programme. Other joint lead arrangers and joint lead managers are Maybank Investment Bank Bhd and RHB Investment Bank Bhd.
S P Setia shares closed unchanged at RM1.02 today, giving the group a market capitalisation of RM4.14 billion. The counter saw 2.29 million shares traded.
30 APRIL – KUALA LUMPUR – Spreading the festive joy, S P Setia is rewarding not just home buyers but everyone with limited-time Raya rebates and exciting vouchers up for grabs!
Win e-vouchers and enjoy festive activities while staying safe at home
Ring in the festivities with Setia Virtual Duit Raya from 1 May to 22 June 2021, as the Top 5 weekly winners will stand to win RM50 Shopee e-vouchers when you participate in Setia Raya Food Catcher on the Setia Virtual-X website (virtual-x.spsetia.com).
Put your culinary skills to the test to win a RM500 Panasonic e-voucher when you participate in the #RendangRayaSetia cooking contest with your 30-second Rendang recipe video uploaded on Facebook, Instagram or TikTok – remember to also hashtag #RendangRayaSetia and tag @CitizenSetia. The contest ends on 8 May 2021.
Home cooks can stay tuned for the Sedap Raya Live Cooking Show happening on Citizen Setia Facebook and Setia Virtual-X, featuring celebrity chefs Ili Sulaiman on the 2 May, Sunday at 10.30am and Dato’ Fazley Yaakob on the 9 May, Sunday at 10.30am who will be sharing their culinary tips and tricks.
Additional Raya rebates of up to RM30,000 and greater flexibility with Setia Flex+
Not forgetting our valued customers, homebuyers will enjoy additional Raya rebates of up to RM30,000, on top of offers from the Setia Flex+ campaign when they purchase a new home from S P Setia’s selected properties from the Central, Northern and Southern regions from 22 April to 22 June 2021.
Setia Flex+ is here to reward homebuyers with a waiver of 10% upon moving in within the first year, in addition to the rebates offered in existing Home Ownership Campaign (HOC) and stamp duty exemptions on the Memorandum of Transfer (MOT) and Loan Agreement. Customers will also be given the option to settle their differential sum with zero interest and a repayment plan of up to 5 years with SEAL. Setia Flex+ will ease the burden of their home loans, as well as deferred payment plans and other incentives – allowing customers get their priorities back on track and get the Setia home they have always wanted right now.
Following S P Setia’s successful launches and encouraging take-up rates in Q1 2021, now is the perfect time for interested home buyers to enjoy the Setia Flex+ packages when they purchase a new home from selected S P Setia projects from 16 April to 30 September 2021.
For more information on Setia Flex+, visit campaign.spsetia.com/setiaflexplus.
KUALA LUMPUR (April 23): S P Setia Bhd kick-started the year with positive take-up rates for its residential products in the first quarter of 2021 (1Q21), despite the weak property market sentiment during the pandemic.
Acorus at Setia EcoHill 2 in Semenyih was launched via a special online preview, which saw its two-storey 20ft by 65ft terraced houses fully sold before Chinese New Year. As a result, Acorus 2 was launched in March and achieved a take-up rate of 70% during the first day of its launch.
Moreover, the latest phase of Setia Alam’s Bywater Homes collection called Plenum, comprising two-storey 22ft by 70ft terraced homes, was also launched online in mid-March and the units 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 are safe and secured, surrounded by a variety of amenities and seamless connectivity infrastructures,” said Bandar Setia Alam divisional general manager Tan Siow Chung in a press release today.
The Plenum terrace homes of the Bywater Homes series in Setia Alam were fully taken up during its online launch.
“With Plenum fully taken up, we are focusing on our latest serviced apartment offering, Setia City Residences, located adjacent 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,” added Tan.
Melodia1 in Alam Impian, Shah Alam, which consists of two-storey terraced homes measuring 22ft by 75ft with modern contemporary designs, is 99% taken up since its launch in January this year. Following Melodia1’s success, Melodia2 is slated to be launched in 2Q21.
Following its launch in March, Carissa at Bayuemas in Klang, which offers 82 double-storey terraced homes (from 24ft by 70ft), has achieved a take-up rate of 90% within the same month.
Carissa terrace units are nestled within the serene surroundings of Bayuemas in Klang.
Residents of Melodia1 will come home to a contemporary musical-inspired park within the township of Alam Impian, Shah Alam.
Meanwhile, S P Setia’s premium-range properties also made noteworthy achievements in attracting homebuyers and investors alike.

The “Circle of Life” Koi pond is the centrepiece of the Hangzhou-inspired Glades of Westlake in Setia Eco Glades.
With a gross development value (GDV) of RM156 million, Glades of Westlake — a unique modern-oriental concept and the second last island phase of Setia Eco Glades in Cyberjaya — was launched end-March with almost 70% of its double-storey 41ft by 85ft semi-detached homes (priced from RM1.8 million) and 59ft by 85ft bungalows (priced from RM3.1 million) booked within three weeks after the launch.
Divisional general manager Goh Tzen Sernz said the good take-up for the premium offerings was a testament to the faith homebuyers have in the Setia brand and its lifestyle offerings. “We are confident that the demand will continue to rise for such products as more homebuyers are opting for a better living environment, not just to live, but also to work.”
The eco-luxury Precinct Arundina impresses with its spacious double-storey semi-detached homes at Setia Eco Park.
Setia Eco Park’s Phase 1B of Precinct Arundina in Shah Alam was launched at the end of March, and its two-storey semidees (from 32ft by 75ft) with prices starting at RM1.3 million are 70% taken up within a month. It has also recently completed the central park, which will form the green lung of the development with natural waterways and greenery to foster a healthy communal lifestyle.
23 APRIL, SETIA ALAM – 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 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.
The Plenum terrace homes of the Bywater Homes series in Setia Alam were fully taken up during its online launch.
“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.

The “Circle of Life” Koi pond is the centrepiece of the Hangzhou-inspired Glades of Westlake in Setia Eco Glades.
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 mil 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.
The ongoing accelerated trend of digitalisation is significantly affecting all levels of societies and organisations. We salute our Board of Directors for playing an active role in ensuring our organisation adapts to change swiftly and remains competitive. As stewards of the organisation, they have been advocating unconventional thinking to improve oversight of risks and opportunities posed by the disruptive forces and events, including, but not limited to, the enormous shifts in the way we work and live expedited by the current COVID-19 pandemic.
In a research note today, the investment bank said SP Setia has been carefully launching new units and so far, only new phases at existing township projects have been launched.
“Elsewhere, the property developer is reviewing its capital structure to leverage the current low interest rate environment.
“It is also looking to dispose of 524.07 hectares of non-core landbank worth RM2 billion in market value,” it said.
The investment bank said SP Setia also intends to resume its dividend payment and reward its ordinary shareholders this year once the Battersea Power Station (BPS) Phases 2 and 3A are completed, adding that the property developer does not urgently require immediate funds for future developments at the BPS project.
“BPS Phase 2’s expected completion is between March and August 2021 and completion of Phase 3A is between November 2021 and March 2022,” it said.
It added that SP Setia halted dividend payment in FY20 after reporting a net loss of RM321 million, mainly due to impairment.
The investment bank has maintained “buy” call on SP Setia, with an unchanged target price of RM1.39 per share.
At 11.47 am, SP Setia’s share price stood at RM1.12.
Looking for more news like this? Check out the articles below for more information and updates.
(Third from left) Datuk Koe Peng Kang, Senior Executive Vice President; Datuk Wong Tuck Wai, Deputy President and Chief Operating Officer ; YB Tuan Mohd Sany bin Hamzan , N15 Taman Templer Assemblyman; Yang Dipertua Tuann Haji Shamsul Shahril Badliza bin Mohd Noor, Selayang Municipal Council; Dato’ Khor Chap Jen , President and CEO , Dianne Chan, General Manager, Setia Eco Templer
13 APRIL, RAWANG, SELANGOR: Setia Eco Templer in Rawang has opened its interchange yesterday, providing improved connectivity to its township and city centre for up to 20,000 residents in that locale.
“With all S P Setia developments, it has always been our commitment to provide the infrastructure and amenities needed to ensure connectivity and fulfil our residents’ lifestyle requirements,” said President and CEO Dato’ Khor Chap Jen.
“I am pleased with the property developers’ efforts in developing areas under the administration of Selayang such as the Setia Eco Templer township, which is a development that is set to become a landmark and focus point, therefore, making [Setia Eco] Templer the chosen location to live in,” said Selayang Municipal Council Yang Dipertua Tuan Haji Shamsul Shahril Badliza bin Mohd Noor.
Setia Eco Templer Interchange with its starting point from Persiaran Eco Templer measures at 450m, providing road users a shorter route to Jalan Rawang.
This will benefit residents living within a 10km radius, as it provides a smoother connection to major highways including Kuala Lumpur-Kuala Selangor Expressway (LATAR), Guthrie Corridor Expressway and New Klang Valley Expressway (NKVE).
With the new interchange, road users from Setia Eco Templer can now enjoy shorter travel distances and reduced travel time to Kuala Lumpur City Centre, Selayang, Kepong and Rawang old town.
The interchange will also benefit road users from nearby neighbourhoods such as Institut Kraf Negara, Taman Templer Bestari, Taman Templer Impian, Taman Templer Saujana, Templer Baiduri and Templer Suasana.
Setia Eco Templer’s commercial area The Grove is expected to see higher traffic and crowd flow as the public can now travel to shop offices and amenities with ease via the interchange.
About Setia Eco Templer
First launched in 2016, Setia Eco Templer stands on 194 acres in Rawang, offering English, Peranakan and Balinese style bungalows, semi-detached homes and link villas, as well as Rumah Selangorku affordable housing and shop offices.
Setia Eco Templer is the winner in the Malaysian Institute of Planners’s (MIP) Planning Excellence Awards under the Design Excellence Award Category 2016 for its masterplan.
The township was awarded the Landscape Development Award category at the Malaysia Landscape Architecture Awards (MLAA) 2019.
Setia Eco Templer recently claimed the Gold Award of the Landscape Design Category of the EdgeProp-ILAM Malaysia’s Sustainable Landscape Awards 2021.
With an estimated gross development value of RM2 billion, the ecological township is enveloped by Templer Park and Kanching forest reserves, offering temperature that is one or two Celsius lower than in Kuala Lumpur City Centre.
Phase 2A Peranakan Straits is set to be completed by mid-2021, which will see the handover to the purchasers of 168 homes. The design of Peranakan Straits homes is influenced by the Baba Nyonya heritage and unique cultural diversity of the Peranakan era. The neighbourhood’s concept was inspired by the Malay Archipelago, gated and guarded to provide residents peace of mind.
Misty mornings, cool breezes, rolling forests and gurgling brooks – these are what you can take pleasure in at Setia Eco Templer, Rawang, Selangor.
The 195-acre Setia Eco Templer township by S P Setia Bhd is set between the Kanching and Templer’s Park Rainforest Reserves while the hills of Bukit Takun serve as its backdrop.
Recently completed in 2019 is the 55-acre Essex Gardens, the largest residential phase in the township with 234 landed homes comprising bungalows, semi-detached houses and link villas that are designed to emulate an English countryside albeit in a tropical setting. Its name is derived from the hometown of Sir Gerald Templer, whose journey to Malaya is part of the inspiration for its design concept that is anchored by its landscaping.
The landscaping in Essex Gardens and Setia Eco Templer displays the developer’s sustainability and environmental consciousness from the get-go as it serves to preserve and enhance the area’s natural beauty and ecosystem.

Construction of the homes and facilities was done with minimal environmental impact and carved according to the natural terrain and original topography while buffer zones were created next to the Templer’s Park Rainforest Reserve to protect its wildlife from noise created by human activity.
Besides the numerous pocket gardens and facilities, like the Essex Play Park and the Watcher’s Cove, there is the Natural Park. Created next to a buffer zone, it is a designated bird-watching park and wetland. It also acts as a meeting point between the neighbourhood and the Templer’s Park Rainforest Reserve. This park is where some 250 of the site’s original trees have been kept to preserve the existing bird-nesting sites.
Another highlight of Essex Gardens is its waterways. Out of the nine creeks which were discovered on the Setia Eco Templer development site, the residents of Essex Gardens have the privilege of six of these flowing through their grounds.
Not only are they aesthetically pleasing and a natural habitat for fauna, they also function as part of the area’s drainage system and as stormwater retention ponds for the irrigation of communal areas. On top of that, they are also natural security barriers to discourage intruders.
The Setia Eco Templer team has also found a healthy population of indigenous fish and aquatic plants in the six creeks as well as in the Rangkap River flowing along the western border of Essex Gardens. Inspired by this discovery, the team has created breeding grounds along the waterways for the fish to flourish.
The meticulous attention given to its landscaping is undeniable. At the EdgeProp Malaysia’s Best Managed & Sustainable Property Awards 2021, Essex Gardens was a Gold winner of the EdgeProp-ILAM Malaysia’s Sustainable Landscape Awards in the Landscape Design category.
Opportunity to raise awareness
The sustainable strategies implemented at Essex Gardens have contributed to ease of maintenance while cost is kept relatively low. Among these measures are the transplanting and preservation of the original trees at the site; selecting plants that offer long-term sustainability; as well as preserving indigenous fish and aquatic plants, and flora and fauna. The project also uses LED garden lights and solar power. Notably, it uses solar-powered mosquito eliminator instead of fogging.

“With the abundance of nature at their doorsteps, the landscape in Essex Gardens is designed to encourage its residents to engage more with nature,” says S P Setia senior executive vice president Datuk Koe Peng Kang.
It also offers the developer the opportunity to educate and raise awareness among its residents on sustainability and their roles in conserving the environment.
“The residents enjoy Essex Gardens so much that they want more varieties of flora and fauna to be added, but sometimes this may be harmful to the ecosystem of the park. Foreign species may be threats to the native species. Some may not understand the philosophy of why the waterway, for instance, has been created a certain way with certain species of fish. We have residents who have tried to add various types of fish including the Haruan into the river but it could eat up all the native species in the river,” recalls Koe.

Yet, their eagerness should not be dampened. What is important is to teach the community about the ecosystem at Essex Gardens, says Koe. “They (residents) do these things because they believe in it and want to contribute to it (the ecosystem). They have seen and experienced it. They know the value that has been created and they want to be a part of it.”
Sustainability is not just a big part of developing Essex Gardens and Setia Eco Templer, but a principle widely applied to every S P Setia’s Eco phase which began with Setia Eco Park in Setia Alam.
The developer believes that projects must be built in harmony with nature. “If you do not live in harmony with nature, nature will punish you, to some extent,” he says.
Therefore, Koe opines that it is important to believe in the concept of sustainability and even more importantly, to extend this belief to every team member in a project.

“The challenge is to hold on to your belief (in sustainability) even if people make fun of you. As developers, we have the responsibility to create things that will last for generations. We can harness our power to make life more sustainable. Otherwise, it is a waste of effort.”
Koe hopes that going forward, Essex Gardens and Setia Eco Templer residents will be motivated to be more in touch with the rich nature that surrounds them, and more importantly, live in harmony with its flora and fauna.
PETALING JAYA (April 2): It is known that a well-managed property translates into capital preservation and good governance in which, ultimately increases its value as well as that of the surrounding area.
Although a big chunk of that responsibility lies on the property management company and Joint Management Body/Management Corporation, it is with no doubt, that a well-designed development will ultimately lead to a more efficient and effective transition during the property management stage.
Understanding the crucial role of a developer and how sustainable property management starts from the design stage, EdgeProp Malaysia’s Responsible Developer: Building Sustainable Development Award was introduced in 2018 to recognise property developers who are committed to building developments that are designed and built for best-in-class property management.
The developers have to fulfil these key attributes: vision, commitment and significant efforts towards the building of sustainable development/s in Malaysia. When the developers take their responsibility seriously, the developments built and being build will stand the test of time, and ultimately allowing the communities in those developments to thrive.
The highlight of EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2021 was the unveiling of Malaysia Developers’ Hall of Fame. Its exclusive membership is accorded solely to winners of the EdgeProp Malaysia’s Responsible Developer: Building Sustainable Development Award.
Three leading developers were inducted into the Hall of Fame tonight. They are: Eco World Development Group Bhd, represented by its president and CEO Datuk Chang Khim Wah; Matrix Concepts Holdings Bhd represented by founder and group executive deputy chairman Datuk Lee Tian Hock and Sime Darby Property, represented by group managing director Datuk Azmir Merican.
The inaugural recipients in 2018 were S P Setia Bhd Group, Paramount Property Development Sdn Bhd and AME Development Sdn Bhd. Sunway Property and ParkCity Group joined the band in 2019, followed by Gamuda Land and Tanah Sutera Development Sdn Bhd in 2020.
Responsible developers continue to uphold their commitments
One aspect that binds all these developers together is the weight they put into developing sustainable developments, and is continuously striving to uphold to the commitments they have made.
For instance, S P Setia Bhd Group senior executive vice-president Datuk Koe Peng Kang believes that a sustainability agenda is a journey, not a destination.
“A sustainable development is one that creates or has a positive impact on its surrounding environment and community. We pride ourselves in not just building homes but sustainable communities for all,” says Koe.
AME Development group managing director Kelvin Lee Chai concurs with Koe, adding that the emphasis on sustainability actually brings out the role of a developer better.
“We passionately believe that sustainability should be at the core of all businesses, where profits are not the sole determinant at the expense of social and environmental welfare. The award motivates us to pursue greater achievements and make our brand synonymous with pro-environment actions,” says Lee.
For Paramount Property’s executive director Benjamin Teo, long before sustainability became a buzzword, it had already been embedded in their thoughts and actions even as far back as in the 1990s.
“During that time, Paramount was preparing to develop Bandar Laguna Merbok in Sungai Petani, Kedah. My father Datuk Teo Chiang Quan travelled all the way to Queensland, Australia to understand how to conserve the ecology along swampy riverbanks and apply it to our development,” Teo offers.
Meanwhile, 2019 recipient ParkCity Group CEO Datuk Joseph Lau emphasises that what matters for them now is to continue the good work of serving the community and delivering quality projects that they are renowned for.
“With rising awareness of the importance of conserving nature’s resources, sustainable housing is becoming more popular and this award has helped us promote the consciousness in the real estate industry to incorporate sustainability in all aspects of their developments, which will benefit the society at large,” Lau highlights.
Sunway Bhd property division managing director Sarena Cheah stresses that embracing sustainability is no longer a choice, but an obvious necessity as we bear witness to the challenges faced by the environment and our people.
“The Responsible Developer Award brings to fore the best practices in the real estate industry, and gives every one of us an avenue to learn from each other. More importantly, it showcases the practices that equate sustainability with profitability, and how sustainability is not a drain on finances but truly, a wellspring for innovation,” says Cheah.
Giving a real-time example, last year’s recipient Gamuda Land chief operating officer Aw Sei Cheh highlights that it is no secret that Covid-19 has impacted not just property, but economies across the board.
“In these challenging times, consumers reassess their basic needs and desires, with housing and shelter as a priority. Now more than ever, home seekers are scrutinising the places they stay in and properties on the market for quality, value and alignment with their needs and values. This applies to developers as well,” adds Aw.
As for Tanah Sutera Development general manager Wee Boon Leong, he pledges to remain committed to this journey that they have ventured on, although it may be arduous at times.
“What keeps us going and growing is the unity of our community towards sustainability. As developers, in one way or another, we shape the way people work, play, interact and live, and hence we have an important role to play as well as a responsibility to carry,” says Wee.