JB's iconic Setia Sky 88 receives overwhelming response from buyers

JOHOR BAHRU (Sept 6): The keenly-awaited first iconic building in Iskandar Malaysia, Setia Sky 88 luxury service apartment, was unveiled to prospective buyers here and in Singapore, which received overwhelming response.

All 353 international units of the 55-storey twin towers, with prices ranging from RM600,000 to over RM1 million a unit, were snapped up at the five-day preview in Johor Bahru and in Singapore.

Setia City Development Sdn Bhd general manager Ricky Yeo said the first preview to buyers was held here on Aug 25-26, and Aug 31-Sept 2 in Singapore.

"The response was overwhelming. In fact, we're surprised by the huge response. It was totally unexpected. All the international units were sold out during the short five-day preview. Many Malaysians, Singaporeans and other nationalities were eyeing for this iconic project by S P Setia for the past one year," he told Bernama.

Setia City Development is a division of Malaysia's No 1 property developer, S P Setia Bhd.

Yeo said 40% of Setia Sky 88 buyers were foreigners, comprising not only from across the Johor Causeway, but also from as far as Hong Kong, Britain, New Zealand, Canada, South Korea and Japan.

"Such attention indeed shows Iskandar Malaysia can be in the investment radar of international property buyers if we have the right product in place," he said, adding that the overwhelming response proved there was market for similar products in future.

The 55-storey twin-towers, with captivating architecture, were jointly designed by CPG Architect from Singapore and Malaysia's Atria Architect.

Yeo said the project, with RM480 million gross development value, would take more than four years to be completed.

He said the iconic building, the tallest building in Johor, at Jalan Datuk Abdullah Tahir, comprises 588 units in various sizes, with prices-per-unit starting from RM750 per square foot (psf) to over RM1,000 psf for units facing Singapore.

He said there are seven levels of penthouse, with unit size starting from 1,173 sqf to 1,389 sqf, with all 48 units of penthouse, costing over RM1 million per unit, have all been snapped up.

Setia Sky 88 owners have the highest private deck to view the skyline of Iskandar Malaysia, Singapore coastline and various facilities.

"It's a landmark and the pride of all owners who own a prime property in Iskandar Malaysia," he said.

The apartment is also strategically located within 10 minutes drive from the Sultan Iskandar customs, immigration and quarantine complex and the Johor-Singapore Causeway, Yeo said.

Setia Sky 88 is also accessible from other parts of Johor Bahru and Iskandar Malaysia via the newly opened Coastal Highway, Eastern Dispersal Link and Inner Ring Highway, he added. — Bernama