Page 26 - S P Setia Annual Report 2016
P. 26

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

          Management Discussion and Analysis

                                                                                      United Kingdom

             An aeriel view of Battersea Power Station, London

            Battersea Power Station           In 2016, this project received a major
                                              symbolic boost to its prospects of emerging
            is one of the largest             as the new business and commercial district
                                              of London with Apple Inc. (the world’s largest
            rejuvenation projects in          company by market value in 2016) signing a
                                              long-term lease for all the office space of
            London, and centres on the        Phase  2  (comprising  500,000  sq  ft)  as  its
                                              new headquarters in London. This recent
            iconic building’s restoration.    development will be a great catalyst to uplift   Evening view of Circus West, Phase 1 of
                                              the value of Battersea Power Station.
                                                                                       Battersea Power Station
          This project, with a total GDV of GBP8.7   In addition, our team at Battersea Power
          billion,  spans  an  area  of  42  acres  on  the   Station has further reinforced market   Progress is also well underway in terms of
          south bank of London. We have 40% equity   confidence in the project by achieving   regeneration of this brownfield site. The two
          interest in this project. As of the date of this   staggered  completion  and  handover  iconic chimneys and the boiler house of
          report, the first three phases of the project,   of Phase 1 (Circus West), commencing   the old power station are being refurbished
          namely Phase 1, Phase 2 and Phase 3A, have,   December 2016, to our customers.  currently and the Northern Line extension
          on a combined basis, achieved 88% in sales.                              of London’s Underground is in the midst of
                                                                                   being constructed.
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