KUALA LUMPUR (July 17): S P Setia Bhd’s KL Eco City (KLEC) has won the Gold Award of FIABCI World Prix d’Excellence 2020 Awards in the Office category, making it the developer’s 12th FIABCI World  Gold award.

The announcement by FIABCI World was made virtually last night. The award was on the back of S P Setia’s Setia EcoHill 2 winning the EdgeProp-ILAM Malaysia’s Sustainable Landscape Award 2020 Gold at EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020.

KLEC is a transport-oriented integrated green development located strategically between Petaling Jaya and Kuala Lumpur. With a GDV of over RM7 billion, KLEC was founded based on the pillars of integration, connectivity and sustainability. It comprises prime commercial offices, retail outlets, luxury residential towers and a chic business class hotel.

S P Setia Bhd President and CEO Datuk Khor Chap Jen said the 12th FIABCI World Gold award won by the company is a proud moment for the whole team. “This win commemorates S P Setia as the only property developer in Malaysia to have achieved this feat. We are elated to solidify once again our position as the top property developer in Malaysia through our top-notch award-winning projects. It is a great occasion for Team Setia as we have worked tirelessly to deliver on our promises.”

He added that the award would reaffirm S P Setia’s efforts in delivering innovation and quality in property development, on top of distinguishing KLEC from its competitor.

“Our vision for KLEC was to create a world-standard, mixed-use development with excellent interconnectivity that will attract many to ‘livelearnworkplay’ in this city-within-a-city. The development is set to raise the bar on corporate, boutique and strata offices; empowering people through smart connectivity, cutting-edge technology and environmental-consciousness,” Khor said.

A home in the past may have just been a property to house your family. But in present times, a home is no longer just a home – it is a goldmine of investment. It is an investment into your family, and an investment into your future, as well as your offspring’s. Let’s take a look at how a great home will bring the best of living to your family.

Your home is not only a monetary investment, but it is also an investment into your family!

Ample Space for Yourself and Your Family

If there is one thing that the COVID-19 situation has taught us, it is that no matter how much you love your family, friction can and does occur when you have been cooped up together for too long.

In fact, while there has not been a study done on personal space at home, there has been a study done on the need for personal space during COVID-19. A professor at Italy’s University of Campania, Tina Iachini, told CGTN that, “It (personal space) is our shield of safety and that is why we are so sensitive to the safety value of this space”.

It does not take much to jump to the conclusion that personal space is very much also valued at home especially when everyone is forced into enclosed living for an unforeseen extended period of time. In fact, according to Hud Abu Bakar, the principal of RSP Architects, homebuyers will be more likely to choose a larger floor area rather than posh finishes after the COVID-19 crisis is over.

So how can this need for ample space for yourself and your family translate into a bigger and better investment in the long term? Bigger space means a larger home, which is equivalent to higher resell value in the future.

Let’s take a look at the second point…

Convenience of Living

For any and those who have lived in a condominium for an extended period of time, they will have known the pain of forgetting and leaving items in the car, and then having to go back down and get it.

And if this happened during COVID-19, the irritation is oh-so-much-more profound. The need to risk coming into contact with people in the lift again, touching the lift buttons, walking back to the car – and may the heavens bless you if you brought the wrong car keys or even forgot to bring your car keys at all.

Hence the desire for many condominium dwellers to live in a landed property. If there is one thing you never need to worry about living in a landed home, it is forgetting your car keys or buying too many groceries.

And another major perk of living in a landed property? No more waiting for the lift. That peak hour mad rush of getting to work and watching the lift stop at every floor when you are already late? The impatience to devour your food every time you pick it up from Grabfood in the lobby but still need to wait to get back up to your unit to begin devouring it? These problems do not exist when you live in a landed property.

Greener & Cleaner Living

And of course, living in a landed property, you will have the luxury of keeping a garden no matter how small. And perhaps most importantly especially during the COVID-19 period – and amidst predictions of more similar pandemics to come in the future – you will not have to share a communal trash bin with all the other units on your floor.

Many studies have shown that living around greenery ensures that a person lives a longer life, no matter if it is just a patch of grass, a small garden, or a cluster of trees. Stress levels are lowered, and oxygen levels are increased; while touching the plants could affect the microbiome on the human skin which will, in turn, strengthen our immune systems.

Hence, living in a landed home will not only strengthen family ties with everyone having more personal space to themselves, but it will also benefit the family’s health with a bit of green living. An added perk is that if you have children, they will know the joys of running around in open space while breathing cleaner, fresher air.

Here are some numbers that may affect your decision to buy a landed property for your next home

Landed residential homes have always been touted to have the best resell value. In fact, many property buyers in the past purchased a landed home only because high rises did not exist then, only to find that they were sitting on a gold mine a couple of decades down the line.

Take for example a single-storey semi-detached house in Section 11 of Petaling Jaya with a land area of about 5,000 sf which the owners purchased for RM250,000 in the year 1986. Having cleared the mortgage within the first 10 years of living there because of the relatively low monthly repayment, they discovered that the value of their house had appreciated to RM1.2 million about 30 years down the line. This couple has now since sold their house and shifted to a smaller home as their children have flown the nest, and are now living comfortably.

This is not the first, nor will it be the last surprise wealth story of property buyers who suddenly discover the inflated value of their home. Just take a look at the statistics from brickz.my, the median price for a landed home in Petaling Jaya in 2005 was RM338,000, which has now increased to RM700,000 in 2020. This is not even its highest resell point, as the median price for homes in Petaling Jaya was at RM820,000 in the year 2013.

The curious part is that Petaling Jaya was once considered to be the “outskirts” of the city. It is, in fact, a satellite city of Kuala Lumpur, and was once shunned by property buyers in the past for being “so far out”. However, thanks to better connecting roads and highways built, Petaling Jaya has now become a coveted area to buy a home in.

Taking a look at another bustling township which was considered out-of place in the past – Subang Jaya. When the township was first built, almost nobody wished to live there. It was considered to be an undeveloped location to live in, so much so that the median price for a landed property in Subang Jaya in 1998 was only RM88,000. Fast forward to the year 2020, the median price for a house in Subang Jaya is now RM737,500 – that is a capital appreciation of about 738%!

The best time to buy a new home is NOW!

Amidst the COVID-19 despair and boredom, the government has come up with many schemes to encourage economic growth. While there have been many upsets as a lot of Malaysians did not qualify for the relief plans, there are a couple of relief schemes created by the government that will benefit homebuyers and home upgraders alike.

For starters, homebuyers who are hunting in the market now will enjoy a lower Overnight Policy Rate (OPR). Announced on 5 May 2020, the OPR was cut by 0.5%, with a new rate of 2% – the lowest since 2010.

So what is OPR? OPR is the interest rate charged from one bank to another. This rate affects the country’s employment, inflation rate, and economic growth. With a lower OPR rate, Malaysians enjoy lower repayments on mortgage loans among others, which will in turn encourage more spending to stimulate the economy.

The second initiative that the government implemented to stimulate movement in the real estate sector amidst COVID-19, is to remove the Real Property Gain Tax (RPGT) on the sales of the first 3 residential properties of an individual from 1 June 2020 to 31 December 2021. Do you know what this means? It’s time to flip your properties and upgrade to a bigger and better home!

The market is in fact now awash with some amazing deals by leading property developers.

Setia Warisan Tropika by S P Setia

A truly serene township created in the peaceful town of Sepang, Setia Warisan Tropika encompasses 96.5 acres of homes interspersed with thematic tropical gardens, waterway terraces, and unique outdoor equipments that cater to the entire family. There is also a resident-only clubhouse that houses a swimming pool among the many other facilities.

The beautifully planned township has finally launched their highly anticipated maiden homes – the double-storey terrace houses of Belladonna. These tropical resort homes are beautifully located to overlook either the greenery of the parks or the serenity of the waterway terraces.

In addressing the need for every family member’s desire for personal space, the homes of Belladonna are created with an open space concept and plenty of natural lighting. The open space allows its buyers to create a home as unique as themselves, while the ceiling to floor sliding glass doors in the living area allows in plenty of natural light even while providing dreamy views of nature.

And with this concept of open living, security is naturally tight with a secured gated and guarded environment, and only a single entry and exit point into the neighbourhood. Security is also further tightened with the Setia Community App, where a visitor management feature is made available. The mobile app also includes other convenient features such as property and tenant management, facilities booking, community announcement and more.
With the smallest home sized at 1,907 sf, combined with its beautiful neighbourhood and elite facilities, you would think that these homes may be beyond your affordability level. The prices are however surprisingly within range of middle-income earners, with starting prices of only RM557,600 after rebates.

Belladonna @ Setia Warisan Tropika Location and Proximity to Amenities

The next thought that may cross your mind is, “It’s only affordable because it is so far out!” But this could not be further from the truth as Setia Warisan Tropika is well connected to major highways, and is within proximity to matured townships.

Only a stone’s throw from Setia Warisan Tropika is immediately the access point to the North-South Expressway Central Link (ELITE), which is also connected to the Putrajaya-Cyberjaya Bypass, the Damansara-Puchong Expressway (LDP), and Maju Expressway (MEX).

And further adding on to the already comprehensive network of highways is also the township’s easy access to the North-South Highway (PLUS), Nilai-KLIA Expressway, and South Klang Valley Expressway (SKVE).

With the easy access to these highways, residents of Setia Warisan Tropika will be able to zip to town easily. The Kuala Lumpur International Airport (KLIA) is only 12km away, while Cyberjaya and Putrajaya are both only about 16km from home. And the Kuala Lumpur city centre is only about 48km away, which motorists will be able to get there in approximately 45 minutes with clear traffic.

Making homes in Setia Warisan Tropika a great investment is also its proximity to many institutions of higher education such as the Xiamen University, LimKokWing University of Creative Technology, and the Multimedia University (MMU). There is also the Digital Free Trade Zone which is expected to create more job opportunities in the area, as well as the setting up of a manufacturing plant by Hartalega which will spur housing demand in the area.

For leisure, residents of Setia Warisan Tropika will be able to visit the Mitsui Outlet Park, Kuala Lumpur International Outlet, Alamanda Shopping Centre, D’Pulze Shopping Centre as well IOI City Mall in Putrajaya.

There is in fact much more to do in Putrajaya than just shopping – there is the annual fireworks event, annual Hot Air Balloon Fiesta, flyboard, paddle or water jetpack activities on the lakes of Putrajaya, or residents can simply zoom around on an e-scooter within Putrajaya and enjoy the sights.

In short, Setia Warisan Tropika is a serene and peaceful home tucked away in nature, but has more than just shopping entertainment in its backyard – they also have amazing outdoor activities bundled with great job opportunities.

If your interest has been piqued, learn more about this project at their website Belladonna @ Setia Warisan Tropika. You can otherwise call the developer at +603-8706 2552/553/557/558 or visit the sales gallery at No. 41, Jalan Warisan Sentral 1, Kota Warisan, Sepang.

PETALING JAYA (June 27): An exciting mountain biking park amidst nature at Setia EcoHill 2, Semenyih, Selangor has earned a Gold of the EdgeProp-ILAM Malaysia’s Sustainable Landscape Award 2020 at EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020.

The award results were announced at a virtual awards ceremony hosted on EdgeProp Malaysia’s Facebook page on the evening of June 27.

The Adventure Park at Setia EcoHill 2 was previously an oil palm and rubber estate. With the help of landscape architectural firm Praxcis Design Sdn Bhd, developer S P Setia Bhd not only successfully carved a mountain biking track out of it but also regenerated the forest by infusing biodiversity to create a new healthy ecosystem.

Completed in December 2017, the activity-based public park has become a place that draws people to visit in Semenyih. People often come here for mountain biking, jungle trekking, bird watching and to enjoy quality outdoor time with family.

S P Setia executive vice president Datuk Tan Hon Lim said the developer constantly strives to place sustainability at the forefront of its developments, and winning the award reinforced its conviction that it is the right thing to do.

“We would like to congratulate our landscaping architect for this deserving win. We are very proud of the team who worked on the Adventure Park which is has proudly been the backbone of the Setia EcoHill 2 development,” Tan told EdgeProp.my after the virtual awards ceremony.

Other Gold winners of the EdgeProp-ILAM Malaysia’s Sustainable Landscape Award 2020 are Horizon Hills, Mont’Kiara Palma and Windows on the Park.

EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020 is organised by EdgeProp Malaysia and is brought to you by partner Nippon Paint Malaysia. Supporting partners are Panasonic Malaysia and KipleLive, a wholly-owned subsidiary of Green Packet.

The winners received their trophies from guest of honour Housing and Local Government Minister Zuraida Kamaruddin.

PETALING JAYA (June 27): An exciting mountain biking park amidst nature at Setia EcoHill 2, Semenyih, Selangor has earned a Gold of the EdgeProp-ILAM Malaysia’s Sustainable Landscape Award 2020 at EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020.

The award results were announced at a virtual awards ceremony hosted on EdgeProp Malaysia’s Facebook page on the evening of June 27.

The Adventure Park at Setia EcoHill 2 was previously an oil palm and rubber estate. With the help of landscape architectural firm Praxcis Design Sdn Bhd, developer S P Setia Bhd not only successfully carved a mountain biking track out of it but also regenerated the forest by infusing biodiversity to create a new healthy ecosystem.

Completed in December 2017, the activity-based public park has become a place that draws people to visit in Semenyih. People often come here for mountain biking, jungle trekking, bird watching and to enjoy quality outdoor time with family.

S P Setia executive vice president Datuk Tan Hon Lim said the developer constantly strives to place sustainability at the forefront of its developments, and winning the award reinforced its conviction that it is the right thing to do.

“We would like to congratulate our landscaping architect for this deserving win. We are very proud of the team who worked on the Adventure Park which is has proudly been the backbone of the Setia EcoHill 2 development,” Tan told EdgeProp.my after the virtual awards ceremony.

Other Gold winners of the EdgeProp-ILAM Malaysia’s Sustainable Landscape Award 2020 are Horizon Hills, Mont’Kiara Palma and Windows on the Park.

EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020 is organised by EdgeProp Malaysia and is brought to you by partner Nippon Paint Malaysia. Supporting partners are Panasonic Malaysia and KipleLive, a wholly-owned subsidiary of Green Packet.

The winners received their trophies from guest of honour Housing and Local Government Minister Zuraida Kamaruddin.

KUALA LUMPUR: There has been an increase in the number of Hong Kong buyers looking to purchase a home at Malaysian-owned Battersea Power Station in London in the past few months as UK immigration policy could pave the way to citizenship for Hongkongers.

Recently, British prime minister Boris Johnson had vowed to overhaul immigration rules to grant almost three million Hong Kong residents a pathway to British citizenship in response to Beijing’s move to impose the national security law as a threat to the city’s autonomy.

Battersea Power Station Development Company (BPSDC) head of residential sales and lettings Mark Hutton said the Battersea Power Station project is luring Hongkongers due to the plentiful green space, proximity to famous shopping areas and prestigious education institutions as well as having an iconic address in London.

“We have seen healthy interest from Asia buyers this year for properties at Battersea Power Station given the ongoing demand for well-located high-quality residential property in London that have a wealth of amenities, ” he added.

As such, BPSDC, the project development manager will be opening its brand new sales and marketing suite in Hong Kong next week to provide potential buyers a dedicated service in the region.

The Battersea Power Station development, which has a gross development value of £9bil, is owned by a consortium of Malaysian investors comprising S P Setia Bhd, Sime Darby Bhd and the Employees Provident Fund.

The Battersea Power Station project sits on a 42-acre mixed development comprising residential, offices, retail, parks and community spaces.

Overall, property agents are seeing an increase in property inquiries in cities such as London and Birmingham after Beijing announced its plan to impose the national security law that many fear will dismantle the city’s political freedom.

KUALA LUMPUR, MALAYSIA — Advertising agency FCB Malaysia produced a short film with a combination of animation and live action for Malaysian property developer SP Setia on Eid al-Fitr.

FCB Malaysia was appointed by SP Setia after winning the creative pitch held earlier this year. The agency also secured a second, additional project in the quarantine months.

“This year’s celebrations may not be what we are used to but what makes it special is that we are all making the extra effort to stay connected and to stay together as a family,” said Ong Shi-Ping, the chief creative officer of FCB Malaysia.

“What makes this piece stand out is how concept and execution are inherently tied together, the animation element is an integral part of the idea.”

View the film here

Credits:

Title: Jauh Di Mata Setia Di Hati
Client: S P Setia
Chief Marketing & Communications Officer: Tina Tong
Head, Group Brand Communications: Adelene Wong
Manager Group Branding & Communications: Andy Lee
Senior Executive, Group Branding & Communications: Mohd Razswan Bin Rus

Agency: FCB Kuala Lumpur
Co-owner & Chief Executive Officer: Shaun Tay
Co-owner & Chief Creative Officer: Ong Shi Ping
Creative Director: Tjer
Creative Strategist: Mandy Chock
Creative Group Heads: James Voon & Jonathan Chan
Senior Designers: Chong Woey Shin & Felicia Lee Hui En
Copywriter: Izham Fazely
Head of Account Management: Sharon Rodrigues
Account Director: Diana Chua
Account Executive: Tim Lee
Senior Producer: Wira Chon

Production House: PRS Productions (M) Sdn Bhd
Executive Producer: ST Fah
Film Director: Telly Koay
Co-Director & Offline Editor: Sherwynn Victor
Production Assistant: Xuan Lee
Visualizer: Kong Hwee

Post House: Meccanica Efx
Post Producer: Fiefa Wan
Online Editor: Hamman
Graphic & Animator: Alvin Ng & Amin
Colourist: Ooi Yi Jing

Audio House: The Rec Room
Audio Producer: Xin Yu
Music Composer: Kieran
Audio Engineer: Jhen Thoo

PETALING JAYA: Property developer S P Setia Bhdsecured total sales of RM470mil in the first quarter of financial year 2020 (1Q20), with about 77% of the sales contributed by its local projects.

In addition to the sales secured, the group had also secured about RM723mil bookings in the pipeline in the January-March 2020 period.

According to its president and chief executive officer Datuk Khor Chap Jen, SP Setia’s focus during the conditional movement control order (MCO) would be on the swift conversion of these bookings into sales.

SP Setia told the stock exchange yesterday that its 1Q20 revenue fell by almost 19% year-on-year (y-o-y) to RM702.66mil, mainly attributable to the closure of sales offices and construction sites in compliance with the MCO.

The MCO had also hampered the signing of sale and purchase agreements and hence, delayed the conversion of the company’s bookings into sales.

Meanwhile, its net profit in the first quarter took a sharper fall by 62% y-o-y to RM28.46mil. In the same quarter last financial year, the group recorded a net profit of almost RM75mil.As a result of the lower profitability, SP Setia registered a loss per share of 0.93 sen in 1Q20, as compared to an earnings per share of 0.22 sen in 1Q19. No dividend was declared for the latest first quarter.

Moving forward, the company said that the continued practice of social distancing over the extended conditional MCO period will impact on construction progress.

For comparison, SP Setia recorded a total sales of RM4.56bil in FY19.

In the first three months of 2020, the property developer has also focused on clearing its inventories, whereby RM102mil worth of inventories were monetised during this period.Moving forward, other than focusing on clearing the completed inventories, SP Setia said it will remain prudent with limited new launches concentrating on the mid-range landed units in established townships to cater to the demand of owner-occupiers.

KUALA LUMPUR (May 15): S P Setia Bhd is poised to record better financials over the next two years, backed by its overseas projects, particularly in the UK and Australia, according to Hong Leong Investment Bank (HLIB) Research.

The property developer is operating in a challenging environment this year amid the ongoing Covid-19 outbreak and fragile political climate, but HLIB said the dismal outlook is expected to bottom by year-end.

“FY20 (financial year 2020) is expected to be a bottom year as FY21 and FY22 will be supported by large foreign recognitions from the UK and Australian projects,” the research firm said in a note today.

“As the group expects economic activities to take a breather, sales target for FY20 has been revised to RM3.8 billion from RM4.55 billion, which represents a drop of circa 16% year-on-year,” it added.

HLIB has maintained its “hold” rating on S P Setia with a lower target price of 75 sen from 85 sen previously, with an 80% discount to RNAV of RM3.77. The stock was traded at 77 sen, at the time of writing.

According to HLIB, S P Setia will continue efforts to clear its RM1.3 billion worth of inventories to support earnings in this year’s challenging environment.

It also noted that some construction sites which have met the eligibility requirements and gotten approval have resumed construction work albeit at a slower pace.

S P Setia’s earnings of RM28.5 million in the first quarter of this year were below HLIB’s and consensus estimates largely due to a higher-than-expected effective tax rate and the halt in construction activities from the movement control order implementation.

The research house has cut its FY20 and FY21 earnings forecasts for S P Setia by 37.9% and 4.5%, respectively, after imputing a higher effective tax rate, slower progressive billings and weaker sales in FY20.

“We also introduce our FY21 earnings forecast at RM591.4 million,” it said.

KUALA LUMPUR (April 30): Property developer, SP Setia Bhd is not only maintaining its sales target of RM4.55 billion for 2020 but is also confident of retaining its pole position in Malaysia despite a challenging economic outlook amid the ongoing Covid-19 outbreak.

In its Integrated Annual Report, the group said the projection would be backed by the 48 ongoing projects and total unbilled sales of RM10.67 billion, while at the same time leveraging on the versatility of its product offerings.

However, this is barring any further escalation of impact from the pandemic and further extension of the Movement Control Order which would affect business, it said.

The group said SP Setia would continue to be cautious, versatile and position its launches to serve the underlying demand for owner-occupier products such as mid-range landed properties and products that would enhance the value of a township.

The group added it would launch commercial products such as shop lots in Alam Impian, Kota Bayuemas, Temasya Glenmarie, Setia Eco Glades and Taman Pelangi as these commercial products are essential to support and scale up the existing development mix and to ensure the sustainability of these housing areas.

15 April, SETIA ALAM – The increased vulnerability of foreign workers in the Covid-19 crisis has compelled S P Setia to initiate the Setia Food Aid humanitarian effort for approximately 6,000 foreign workers working at more than 50 of its project sites across the country. This is one of the largest humanitarian initiatives the Group has rolled out in light of this pandemic in addition to the previously committed pledge of RM1.0 million to the Government-Linked Companies (GLCs) and Government-Linked Investment Companies’(GLICs) Disaster Response Network (GDRN) Collective Contribution and S P Setia Foundation’s RM500,000 donation of medical equipment and supplies to the Malaysian hospitals and front-liners.

Many of these foreign workers live from hand to mouth, and the Movement Control Order (MCO) has denied them of their only source of income, causing grave concerns on where their next meal will come from. The struggle to afford food has taken a toll on many of the foreign workers working at the construction sites. Their needs are now increasingly exigent, especially with the extension of the MCO which necessitated S P Setia to initiate this hardship humanitarian effort.

S P Setia provided dry rations such as rice, instant noodles, canned food, flour, salt, sugar and cooking oil to approximately 6,000 of its site workers across the nation. The food aid which started on 9 April 2020 will continue until the end of MCO or until they can commence work, whichever earlier. The company is expected to spend approximately RM500,000 weekly for this aid.

Setia welcomes NGOs, groups or individuals who, as part of their good intention to help, wish to donate food to the foreign workers. However, as advised by the Ministry of Health that everyone must play their role and comply with the MCO which was enforced to curb the spread of the virus, it is imperative that these intentions should be carried out in tandem with Setia Food Aid programme and delivered through proper channels for the safety of all involved including the foreign workers.

On the same note, the government has decided to allow several additional economic sectors to operate in phases on condition of strict adherence to health and safety guidelines. S P Setia will be submitting applications for several of its projects that meet the eligibility requirements listed and will be enforcing strict social distancing guidelines and practices for all including the foreign workers who will be working at those sites during this MCO period.