Setia Eco Park - Malaysia's First Eco Township

“Setia Eco Park –
            Malaysia’s First Eco
                Township”

        By Patricia Kristina D’Gegrario (patricia.k.d@klcccondominiums.com.my)

A white paper commissioned by KLCCcondominiums.com.my and carried out by Shaun
                         & Grove PIK, Inc and Epic Media

Copyright © KLCCcondominiums.com.my. TEL: 03-56120012 EMAIL:
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without permission.

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S   P Setia who's the builder behind the property
    development masterpiece, Setia Eco Park situated in Sha
    Alam encompassing a massive 791 acres of freehold
    land, was a construction company first before becoming
a property developer in 1996 after a serious refocusing of
business core values. Since then, the company has been
committed to deliver superior value to investors and home
owners.

Puchong Town Center, a 700-acre development in Pusat Bandar
Puchong, was the first project that SP Setia took on as a developer
showcasing the company's flair and talent to create a well-
planned mixed and integrated development.

Not only was the property a balance of stellar landscapes,
community-oriented facilities and outstanding designs but it was
also incredibly affordable for its quality.

Puchong Town Center eventually became the benchmark for
future projects including immensely popular Setia Eco Park. It was
also the beginning of the company's impressive rise as Malaysia's
leading listed real estate developer. It stands at the forefront of
Malaysia's three key economic hotspots: Penang, Johor Bahru and
Klang Valley. And never one to rest their laurels, SP Sepia
ventured internationally in 2007 when they partnered with
Vietnam's Becamex IDC Corp to develop a joint project known as
the EcoLakes at MyPhuoc Industrial Park.

The following years saw expansion in other countries including
Australia, Singapore, Indonesia, United Kingdom and China.

More expansions were achieved including the SetiaWalk Puchong1
commercial project, Setia Sky Residences launched in 2009 and

1
    Reviewed at http://goodplace.my/blog/setiawalk/

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upcoming projects are also slated to further cements the
company's solid reputation as the best in the country. Setia Sky
Residences remain one of the more desirable KLCC condominiums
in the heart of Kuala Lumpur.

With two Federation of International Real Estate (FIABCI) Prix
d'Excellence awards on their belt (awarded in 2007 and 2011)2,
SP Setia continues its legacy of signature and seamless blending of
art, life and nature as evident through the Setia Eco Park Project.

Property Overview and Community Profile

Setia Eco Park is one of the real estate highlights in Shah Alam
sitting on a freehold prime land right next to Bukit Alam and a
short drive away from KLCC (20 minutes). It is a well planned SP
Sepia project which consists of 22 phases providing low density
housing and a luxurious lifestyle while keeping the environmental
and natural heritage of the property.

Based on the master plan thus far, 50% of the acreage has been
developed where 1,500 units of varied residential units now
stand. Some of these units are villa residences, semi-detached
structures, bungalows and zero lot bungalows.

Regardless of the phases and the type property, 25% of Setia Eco
Park's freehold land has been dedicated to preserve the site's
natural beauty3. The said acreage is allocated for waterways,
landscaped theme parks, walkways, forest park, lakes and creeks
keeping in stride with the developer's commitment to a well
balanced development.

2
  http://www.theedgemalaysia.com/property/14660-s-p-setias-setia-eco-gardens-
pavilion-clinch-fiabci-awards.html
3
  http://propertyreviews.my/setia-eco-park/

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In terms of Setia Eco Park's market standing, it has been positively
impressive as gross development value shoot up to RM6.5 million
today from RM2.2 billion in 2004.

To illustrate further, Bandar Eco-Setia Sdn Bhd CEO, Koe Peng
Kang4 shared that a semi-detached property with a value of
RM600,000 at launch is now worth more than RM2 million. Such
statistics show that property holds a promising future in terms of
investment value.

Unfortunately, it was not a always a smooth ride for Setia Eco
Park. In 2002, the group purchased a 4,000 acre site, a rather
unpromising prospect that usurps half of the developer's total
market capitalization that year. That could have ended the
company's fate if not for a little luck and a lot of hard work.

Property Prices According to Build-up Sizes
and Phases

Setia Eco Park enclave remains as Klang Valley's residential
development with the lowest population density in the area. And
for home seekers looking to settle down and enjoy exclusive
enjoyment of the property's extensive and varied facilities
(centralized shopping village, clubhouse, ), here are price details
according to phases and build-up sizes:

         RM853,700 to RM1,714,300 - for Phase 2 2-storey
          bungalows (build-up sizes from 4,478 sq.ft. to 10,786
          sq.ft.).

         RM989,155 to RM1,149,860 - for Phase 3 2-storey
          bungalows (build-up sizes from 4,117 sq.ft. to 5,960 sq.ft.)

         RM661,600 to RM861,300 - for Phase 3A semi-detached
          houses

4
    http://my.news.yahoo.com/city-country-cover-story-continuing-014603561.html

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       RM989,155 to RM1,489,860 - for Phase 3A bungalows

       RM1,220,953 to RM2,591,818 - for Phase 5 bungalows
        (build-up sizes from 3,318 sq.ft. to 4,592 sq.ft.)

       RM1,586,000 to RM3,354,000 - for Phase 6B(I) bungalows
        (build-up sizes from 4,176 sq.ft. to 4,478 sq.ft.)

       RM1,436,900 - for Phase 6B(II) bungalows(build-up sizes
        from 4,176 sq.ft. to 4,478 sq.ft.)

       RM894,567 - for Phase 7A 1.5 and 2-storey semi-detached
        houses (build-up sizes from 2,726 sq.ft. to 3,335 sq.ft.)

       RM1,008,800 to RM1,387,100 - for Phase 7B 2-storey semi-
        detached houses (build-up sizes from 3,498 to 5,971 sq.ft.)

       RM1,500,000 to RM2,000,000 - for Phase 7C 2-storey
        bungalows (build-up sizes from 3,072 sq.ft. to 4,590 sq.ft.)

       RM1,600,000 - for last are of Phase 7 including 2.5 semi-
        detached houses (uild-up sizes from 4,909 sq.ft. to 4,974
        sq.ft.)

       RM1,190,000 - for Phase 8 and Phase 9 bungalows

Future Plans for the Eco Park

Because SP Setia is a developer committed to innovations and
taking risks, future plans are on the way to add more value to the
eco-friendly yet luxurious development. Among the initiatives that
are slated for the site is the instalment of silt filtration to enhance
waterways and other water features within the property. Other
value-added projects are also in the works aimed to lure and
attract educational institutions and corporate head offices. Our
wish-list includes an upper tier SOHO development – something
like Binjai 8 in the KLCC enclave.

Although the Setia Eco Park project encountered some bumps on
the road while under development, the developer was able to
overcome most of the major troubles which puts the Eco Park in a

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strategic position poised for growth in the coming years. The Eco
Park stands tall as a benchmark in Malaysia's real estate
development. Not only will it become the talk of the town for a
long time but the project also set many firsts in the industry and
pushed through a number of initiatives such as the 20 energy-
efficient bungalows in 2007 and the 16ft bitumen road designs
incorporated within the property along with double boom gates
and a slew of landscaping innovations.

For a more comprehensive study of Setia Eco Park, kindly email
sep_report@klcccondominiums.com.my        for   complementary
access to our information database on Setia Alam real estate, or
download our property valuation guide here.

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