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Annual Report 2014 | S P SETIA BERHAD GROUP | 55

Parque Melbourne, the Group’s second

development in Australia has a total unbilled

sales of RM684 million with 100% take up

rate as of October 2014. Construction has

commenced and the project is expected to

complete in FY2017.

Over in Singapore, Eco Sanctuary, also the

Group’s second development across the

Malaysian border is 80% sold with delivery

expected in mid FY2016. Eco Sanctuary

recorded total unbilled sales of RM810 million.

Total unbilled sales generated by Phase 1

and Phase 2 of the Battersea Power Station

is RM3.7 billion, (of which S P Setia’s share

is RM1.4 billion) and RM2.6 billion (of which

S P Setia’s share is RM1 billion) respectively.

With remarkable 99% take up rate for Phase

1 and 85% take up rate for Phase 2 as of

October 2014, the Group is focusing on

delivering Phase 1 by FY2016 and Phase 2

by FY2018.

On the local front, S P Setia saw the launch

of Circle Collection and Setia Taipan II at

our flagship township of Setia Alam. Phase

2 at Setia EcoHill, offered in three designs

– Begonia, Bellucia and Bartonia was also

launched in 2014 amidst overwhelming

response. Over 70% of the 149 units

released for sale was taken up by the first

day of launch.

In the Southern region of Johor, the long-

awaited Altus, the final tower of Setia Sky

88 was also launched. The iconic building

also houses a plethora of facilities such as

a theatre room, children’s centre, infinity

swimming pool, a gym, carefully landscaped

surrounding, a spa zone, rooftop dining and

more. Sales achieved during the year in

review stands at RM39 million.

Besides property launches, the Group

is steadfast in our commitment to the

community. Residents at EcoHill, Semenyih

can look forward to the EcoHill Link which

will connect Setia EcoHill directly to the

Lekas, SKVE, Silk, PLUS and LDP highways

while communities in Eco Glades, Cyberjaya

can anticipate a dedicated interchange

which is currently under construction.

Upon completion, it will make Setia Eco

Glades the nearest gateway in Cyberjaya

to major highways such as the North-South

Expressway Central Link (ELITE) and the

Maju Expressway (MEX).

president’s report

III. business Review

Battersea Power Station

Eco Sanctuary