S P Setia launches 240-acre green Setia City

SHAH ALAM: Setia City, the 240-acre (96 hectares) integrated commercial hub in S P Setia Bhd's Setia Alam township in Shah Alam aims to be the first green integrated commercial development in the country.

"We hope to set a new benchmark in green development as this will be the first integrated project that will have all its buildings certified by the Malaysian Green Building Index (GBI)," said S P Setia president and CEO Tan Sri Liew Kee Sin.

With a gross development value of RM5 billion, the freehold development comprises hotels, serviced apartments, corporate office towers and retail malls. Completion of Setia City will take 10 to 15 years.

The first three Grade A corporate headquarters to be built in Setia City are for S P Setia, Khind Holdings Bhd and Top Glove Corp Bhd. The developer is targeting a GBI Platinum rating for its headquarters, comprising a 9-storey block with a 4-storey annex building which will be connected to Setia City Mall via a link bridge. All buildings within Setia City will be connected via elevated walkways.

Other green features planned include energy efficient lights and fibre optics, solar photovoltaic panels, plug-in points for electric vehicles, rainwater harvesting system, raised floor system for cooling/cabling and large canopy roofs with a garden.

Liew said there would be 40 corporate towers in the development eventually and the developer is currently in talks with several other companies to relocate their offices here. He was speaking at the launch of the development officiated by Housing and Local Government Minister Datuk Wira Chor Chee Heung on Thursday, Oct 21.

The developer is also discussing with a local hotel group to manage a four-star hotel here. The hotel as well as the Setia City Convention Centre are expected to be ready end-2012. S P Setia also plans to launch two blocks of serviced apartments in Setia City by mid-2011.

"Setia City is set to be one of the largest master-planned city centres in the country. It is definitely set to transform the skyline of Shah Alam and complete the Setia Alam Township to one that fully embraces the Group's LiveLearnWorkPlay philosophy of creating meaningful environments for all. The next phase of our growth is here — Setia City," Liew said.

Meanwhile, Setia City Mall, is targeted for opening by December next year, said Robert Spinks, director of Greenhill Resources Sdn Bhd, a 50:50 joint-venture between S P Setia and Australian-based Lend Lease Asian Retail Investment Fund 2 to develop the mall in the commercial hub. "The mall will be ready first before other components within Setia City. It will help improve amenities and serve both the residents and people who work in the area. Leasing so far has been going very well. We are looking at mainly established brands," Spinks told The Edge Financial Daily.

Major tenants include Parkson, Golden Screen Cinemas (GSC) and a bowling centre operator. Spinks said they are also in the final stages of discussions with Harvey Norman.

The mall is currently under construction and lies adjacent to a park. Phase 1 of the mall is on 16.4 acres with a total net lettable area of 700,000 sq ft. Spinks said the second phase would depend on demand. In total, both phases will consist of 1.5 million sq ft of retail space.

S P Setia is ranked the No 1 property developer in The Edge Top Property Developers Awards 2010 and is currently involved in developments in Klang Valley, Johor Baru and Penang in the country, as well as Vietnam, China and Australia.