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62 | S P SETIA BERHAD GROUP | Annual Report 2014

III. business Review

review of operations

Setia Sky 88

Touted as the first iconic building in Iskandar

Malaysia, Setia Sky 88 luxury service

apartment is located approximately two

minutes from the Integrated Customs,

Immigration and Quarantine (ICIQ) complex

in Johor Bahru city centre. Altus, the final

tower of Setia Sky 88 which was launch in

early FY2014 continues to set new landmark

standards in Johor. Setia Sky 88 recorded

sales of RM39 million in FY2014.


The on-going projects in Penang contributed

a combined sales of RM198.9 million in

FY2014. The projects are Setia Pearl Island,

Setia Greens, 11 Brook Residences and Setia

V Residences. With positive response from

previous launches, the Group is planning

to launch Setia Sky Vista, a condominium

development comprising two residential

towers, in FY2015.

Setia Pearl Island

Sprawling across 112.6 acres of the former

Pearl Island Country Club, Setia Pearl Island

is renowned for its six distinctive Isles,

each with its own special characteristics

and landscaping theme. Since its inception

in 2007, the development has since

transformed into a green sanctuary for

residents. For the year under review, Setia

Pearl Island recorded sales of RM41 million.

Setia Greens

Setia Greens is another true personification

of S P Setia’s eco themed townships

which recorded sales of RM26 million in

FY2014. One of the first green townships

in the northern region to submit for a

Green Building Index (GBI) certification,

Setia Greens homes are designed to focus

on the marvels of natural resources to

provide a contemporary co-community that

respects the intricate balance between

man and the surroundings and offers a safe

and environmental-friendly haven for its


11 Brook Residences

11 Brook Residences offer a picturesque yet

comfortable retreat away from the hustle

and bustle of the city. Featuring exclusive

double and triple storey bungalows, the

development offers not only a safe, gated

and guarded haven for residents but also a

sereneabodeembracedby lushgreenery and

a river bank board walk. 11 Brook Residences

is also proudly the first development in

Penang to be awarded the Green Building

Index (GBI) GOLD certification, underlying

the Group’s philosophy of building eco

and sustainable developments. 11 Brook

Residences recorded sales of RM6.9 million

for the year under review.

SetiaV Residences

Setia V Residences, built on 1.8 acres of

prime freehold land, is one of Penang’s

most exclusive developments. The luxury

condominium, comprising two towers of

48 and 31 storeys, is set to become an

iconic landmark along the famed waterfront

promenade of Gurney Drive. Targeted for

completion in 2016, Setia V Residences has

seen good response for its Tower B launch.

For the year under review, SetiaV Residences

recorded RM124 million in sales.

Setia Sky 88

Setia V Residences