Developer Profile: SP Setia
Here at Property Malaysia, we’ve been meaning to do a developer profile even since this website started, but somehow didn’t get down to it until now. One of the reasons for our hesitance is that developers, as sizable public corporations, often have ups and downs in terms of public perception and performance.
But what other way to start the first profile than with the No.1 ranked Property Developer in Malaysia, according to the definitive The Edge survey (You may want to read our write up on that here and here).
While most can argue that ‘best property developer’ is quite subjective and too all-compassing, but one thing is certain, though: they know how to sell quality homes.
We’ve personally known SP Setia a long time ago, the company first came into prominence when the construction division when into Putrajaya in a big way. The two biggest contracts were the PM’s Office and the PM’s Residence. After that they sort of faded out from the Federal Capital. Then later, another associate of ours joined as a manager in their new highway division, set up mainly to support their proposed massive housing development in Johor.
And of course, we have to mention Pusat Bandar Puchong / Taman Wawasan, their flagship commercial and residential development in Puchong, where their corporate office is located. Many of our friends have bought link houses there, we can personally testify to their quality construction, beautiful landscaping and thoughtful town planning of that area, a stark contrast to haphazard and questionable quality of earlier projects that surround them in Puchong Jaya.
That was some years back. Now, SP Setia has undoubtedly reached the forefront of property development. They have all the ingredients – good supply of landbank, management drive to quality, vision and commitment to be and stay the best. While some may argue that only the well-to-do and foreigners can afford their home, we can only say that this is a natural progression for the company. When we personally went to view Duta Tropika, two months after the launch, only a few units were left. In their defence, group Managing Director Datuk Liew Kee Sin emphasizes that they have homes for every RM100,000 category. However, this may be true for the moment, but whether they can keep it up for the next few developments remains to be seen.
At the moment, SP Setia has a good reputation for building extravagant show village, as can be seen in their current projects. However, recently they were in the news when the Jalan Meru interchange for the NKVE collapsed dramatically.
In conclusion, if you can afford it, you can’t go wrong a SP Setia home. Its not quite a yuppie status symbol yet, but if the location and design is right for you, there isn’t much else to consider.
Prominent Developments:
Taman Wawasan, Puchong – semi D township opposite Tesco Puchong.
Setia Eco Park – first upmarket development in Malaysia with ‘ecological park’ concept. Launched in March 2005.
Duta Tropika & Duta Nusantara – villa style gated community in Hartamas. Very limited units and premium priced. Sold out almost immediately.
Setia Alam – Huge mixed development in Selangor. Launched to good response.
Upcoming Projects:
Setia Tropika, JB
Setia Hills, Ampang
(check out their website for more details.)
Corporate Address:
Wisma S P Setia
1, Jalan Bandar Satu,
Pusat Bandar Puchong,
47100 Puchong,
Selangor Darul Ehsan, Malaysia.
Telephone: 58822000
Facsimile: 58821230
Email: copr@spsetia.com.my
www.spsetia.com.my
www.setiahomes.com
a very good brief explanation…i hope u can also state profiles of other property market players such as property brokers/consultants, real estate agency firms, property financers and etc….thank you for building this site
Comment by tasya — August 15, 2005 @ 10:47 pm
tasya
thanks, we try to give uncommon info not found by mainstream papers and ‘official’ websites, although sometimes its hard.
as for info for those other companies & agents, we are currently compiling info, once we have enough we’ll try to add the listing…
Comment by Administrator — August 16, 2005 @ 1:02 am
Their only problem was lack of landbank last time but now they have their big huge tract in Klang with the Eco Park, they’re quite set for a few years until they exhaust it.
Comment by boo_licious — August 16, 2005 @ 2:00 am
Setia Alam is located in Klang Valley instead of JB. I’m quite impress with their concept of development which more toward enriching community lifestyle. I like your homepage, I agreed to what mentioned by tasya that you can state other developers as well.
Comment by David — August 17, 2005 @ 6:36 am
boo_licious,
they actually have some land here and there in Malaysia, waiting for the right time to launch… just like the ampang one.
david,
thanks for the heads up, i’ve updated the posting.
Comment by Administrator — August 17, 2005 @ 6:54 am