First build-then-sell houses at Setia Ecohill set for March launch

SEMENYIH (Feb 9): Property developer S P Setia Bhd is set to launch its first build-then-sell housing scheme, the Gloris double-storey superlink homes at its Setia Ecohill township in Semenyih, Selangor by March this year.

Comprising only 77 units, built-ups for the freehold units start from 2,645 sq ft while prices are from RM848,000. Gloris is the final phase of terraced houses in Setia Ecohill, as future residential phases will consist of semidees and bungalows. Gloris has an estimated GDV of RM70 million.

“Back in 2009 to 2013, there were more investors in the market because entries [to the market] were easier. However, in these past few years, we realised that the composition of the buyers has changed, as more are buying for their own use, including those who are looking to upgrade.

“Most investors only look at the price and package, and just expect future returns. Genuine homebuyers will look at the surrounding factors such as amenities and accessibility before buying. Back then, amenities in the township, such as the shops and schools, were still under construction. Now, many of them have been completed, such as the clubhouse, schools and our Ecohill Taipan shoplots. The Ecohill Walk Mall is also set to be completed in the next two years. All these allow homebuyers to buy with more confidence,” Setia Ecohill general manager Koh Sooi Meng told EdgeProp.my.

Gloris was soft-launched last year but in line with the government’s call to adopt the build-then-sell concept, S P Setia decided to convert Gloris into a build-then-sell product. The phase is located within an exclusive residential enclave of 287 units known as the Horizon Residences.

Some of the amenities nearby include schools such as REAL Kids Kindergarten and Tenby International School. Tesco Semenyih is five minutes’ drive away.

“Commercial units at the Ecohill Taipan commercial centre was handed over at the end of last year and will see tenants moving in soon, including eateries and a mini-mart, which is expected to commence operations soon,” said Koh.

The township is accessible via several highways including the Kajang-Seremban Highway (LEKAS), North-South Expressway, South Klang Valley Expressway, SILK Highway and East Klang Valley Expressway, which is targeted to be completed this year.

Additionally, S P Setia has also spent RM80 million to construct the LEKAS-Ecohill Link, which opened in August 2015, and has further invested RM50 million to extend the link towards the neighbouring township, Setia Ecohill 2.

Gloris is aimed at families and upgraders living in surrounding areas such as Cheras, Kajang, Ampang, Hulu Langat, Seri Kembangan, Puchong, Putrajaya, Nilai and Seremban.

“For those living in the area and are looking to upgrade, it will be a seamless process moving in as they can immediately dispose of their old units and move in straight away, since their new house has already been completed,” said Koh.

At least 10% of the 673-acre Setia Ecohill township development will be green zones including parks, gardens and pocket gardens. This is further enhanced by generous streetscapes as well as turfed and landscaped banks of the engineered waterways and detention ponds.

To be developed over eight to 10 years with a total GDV of RM4.5 billion, over 5,000 units of homes have been sold since its launch in 2013.

This story first appeared in EdgeProp.my pullout on Feb 9, 2018. Download EdgeProp.my pullout here for free.