Page 21 - S P Setia Annual Report 2016
P. 21

S P Setia Berhad Group                                 Our Business | Our Performance Review | Our Leadership and People   19
          Annual Report 2016                                        | Our Achievements and Accolades | Our Sustainability Statement
                                                                   | Our Governance | Our Financial Statements | Other Information

                                                                              Management Discussion and Analysis

             KL Eco City - Masterplan

          KL Eco City is our first integrated commercial
          development, with a unique blend of mixed-
          use landmark developments, which sits on
          25 acres of prime land located strategically
          between the Mid Valley Megamall and the
          Abdullah Hukum LRT Station in Bangsar.
          It is  said to be the first  integrated  green
          luxury development, anchored by prime
          commercial offices, high-end retail outlets,
          world-class serviced residences and luxury
          residential towers. This integrated commercial
          development, which has a total GDV of RM7.0
          billion, has the potential to emerge as a new              KL Eco City - Site Progress View with Boutique Office 2 & 3 completed
          central business district of Kuala Lumpur.                 in September 2016

          KL Eco City is served by several key highways          network, i.e. the LRT and KTM Komuter services with stations almost
                                                  KL Eco City -
          and roads including Jalan Klang Lama, New              at its door step, at Abdullah Hukum and Mid Valley. In 2016, 343
                                                  Strata offices
          Pantai Expressway (“NPE”), Jalan Bangsar,   handed over   units of properties with a GDV of RM877 million were completed
          Jalan  Maarof,  Federal  Highway  and  East-  to purchasers   and handed over to our customers. Also, in the year under review,
          West Link Highway, as well as KL’s urban rail   in July 2016  another 190 units of KL Eco City properties with a GDV of RM361
                                                                 million were sold.

                                                                 In 2016, we also launched a niche luxury condominium project in the
                                                                 affluent neighbourhood of Seputeh, Kuala Lumpur. The project sits
                                                                 on 4.4 acres of prime freehold land and has a GDV of RM928 million.
                                                                 It comprises 290 spacious units, with four to six units per floor. Each
                                                                 unique residence ranges from 2,300 to 3,000 sq ft and is designed
                                                                 with a private lift lobby. The first of its two towers, comprising 145
                                                                 units, was launched in October 2016 and by end of 2016, witnessed a
                                                                 commendable take-up of close to 30%, as it strategically captured an
                                                                 underserved market in Seputeh.
             Setia Sky Seputeh - Man-made sandy beach
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