City&Country: Briefs

S P Setia hits RM2 bil sales target
S P Setia Bhd had recorded sales of RM1.95 billion as at Aug 31, achieving its FY2010 sales target of RM2 billion with two months to spare. The 10-month sales value exceeded the group’s highest sales value of RM1.65 billion recorded in FY2009 by 18%.

Some RM590 million was achieved in 3QFY2010, bringing cumulative nine-month sales to RM1.8 billion. Projects that contributed to these numbers include Setia Alam and Setia Eco-Park in Shah Alam; SetiaWalk in Puchong; Setia Sky Residences in Jalan Tun Razak, Kuala Lumpur; and those in Johor Baru and Penang.

Plenitude to buy 20 land parcels in Penang
Plenitude Bhd is acquiring 20 parcels of freehold land in Balik Pulau, Penang, measuring about 56.63 acres for RM40.12 million (RM17.50 psf) to be developed into a mixed development.

Plenitude, via its wholly-owned subsidiary Plenitude Estates Sdn Bhd, entered into two separate sales and purchase agreements with United Formula Sdn Bhd and Affluent Base Sdn Bhd on Sept 27.

The company says the proposed development will comprise 2-storey and super-link houses and a neighbourhood commercial centre consisting of 2 to 3-storey shops. The project has an estimated GDV of RM230 million.

This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 826, Oct 4-10, 2010