Setia Avenue records 60% take-up rate

By THE STAR

SHAH ALAM: Bandar Setia Alam Sdn Bhd, a subsidiary of SP Setia Bhd and the developer of Bandar Setia Alam, has seen brisk sales of shop/offices at Setia Avenue, the second commercial component that is taking shape at the township in Shah Alam.

Launched early this year, 60% of the project – comprising 274 shop/offices with a sales value of RM170mil – had been sold, Bandar Setia Alam general manager Norhayati Subali said.

“We started developing Setia Avenue last month and the entire development is due for completion by end-2008,” she told StarBiz.

Setia Avenue, on 12 acres, will have five blocks of five-storey buildings. Each unit, with a built-up of about 2,000 sq ft, is priced at RM1mil to RM2mil.

Norhayati Subali with a scale model of the second commercial component.

“It will be a new business address. There will be many boulevards and it will be a perfect place for al fresco dining,” Norhayati said.

While the ground level units boast wide shop frontage, the commercial centre is especially suitable for car showrooms, restaurants and jewellery shops.

The site, which faces the bustling Jalan Meru and a road linking to the North Klang Valley Expressway, will be connected by a bridge to an upcoming hypermarket nearby.

Other unique features of Setia Avenue include roofed walkways, piped-in music throughout the area and unconventional building façades.

Bandar Setia Alam last year sold its first commercial development comprising some 200 shop/offices.

According to Norhayati, the development of the 280-acre Setia City in the heart of Setia Alam township would start in 2009.

The project, slated to house SP Setia’s new headquarters, a medical centre, educational institutions, a hotel, offices and corporate towers, would take five to six years to complete, she said.

Launched in late-2003, Bandar Setia Alam is a 4,000-acre freehold development due for completion in seven to 10 years. The township is projected to have a population of over 100,000.

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