SHAH ALAM: Property developer SP Setia Bhd has launched landed properties worth a total gross development value (GDV) of RM300.7mil in the second quarter of 2022. These include double-storey terraces, semi-detached and bungalows.
"Despite the challenges facing the real estate industry due to elevated building material costs, labour shortages, interest rate upcycle and inflationary pressure, potential homebuyers are still seeking landed properties in established townships. This augurs well for SP Setia as the group is known for quality townships prioritising conveniences and amenities," SP Setia president and chief executive officer Datuk Choong Kai Wai said.
“Many potential buyers realise the importance of owning a home that complements their lifestyle under the new norm. The recently announced 100% stamp duty exemption for first-time homebuyers of properties priced RM500,000 and below through the i-Miliki will assist in expediting the property market's recovery," he added.
Future projects would continue to focus on enhancing SP Setia’s environmental, social and governance aspects, at every stage of conceptualisation, design and construction.
In line with their new sustainability and climate change mitigation strategies, SP Setia had partnered with Tenaga Nasional Bhd to provide electric vehicle ports and renewable energy solutions to potential home buyers, compounding the company’s commitment to promoting green energy and reducing carbon emissions.
SP Setia currently has 47 ongoing projects and an effective remaining land bank of 7,042 acres.