S P Setia to launch Setia Eco Templer in May

RAWANG (April 25): S P Setia Bhd plans to launch the first phase of Setia Eco Templer in the first week of May, said president and CEO Datuk Khor Chap Jen.

He said the first phase of the new township comprises 234 units of link villas, semi-detached houses and bungalows.

The project -- which boasts nine rivers, creeks and other water systems that S P Setia executive vice president Datuk Koe Peng Kang believes will make the project "legendary" -- has a gross development value of RM400 million.

“Originally, this (Setia Eco Templer) was scheduled to launch last year, but we decided to defer it a little bit to this year. However, I think the timing is just right, with the loan facilities now in place. We are targeting to launch this in two weeks’ time,” Khor told reporters after the banking facilities signing ceremony today at the Setia Eco Templer sales gallery.

Ambank had granted RM315 million banking facilities to Setia Eco Templer for the development of the township.

The bank also granted a RM200 million working capital term loan to S P Setia.

According to Koe, the first phase of Setia Eco Templer, comprising 234 units of link villas, semi-dees and bungalows, has selling prices ranging from RM900,000 to RM2 million.

“In the later part of this year, we will also be launching the affordable houses under the Rumah Selangorku scheme. Altogether, there are 900 units of them,” Koe said, adding that the selling prices of the affordable homes range from RM42,000 to RM250,000.

Setia Eco Templer is sitting on a 194-acre land between Rawang and Selayang. It is less than 30km away from Kuala Lumpur City Centre. The township comprises 1,800 residential units and a commercial zone and is slated for completion in 8 to 10 years.

“We will also build a new interchange directly to Jalan Ipoh so our buyers do not need to take the u-turn to reach our township,” Khor remarked.

He added that the interchange will cost the company about RM25 million.

“This will be fully funded by the company. We have secured the construction approval and it will be completed when we hand over our first home,” Khor noted.

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