S P Setia to tackle Singapore property market

Malaysia’s leading property developer S P Setia Bhd Group is planning to enter the Singapore property market this year, said Liew Kee Sin, Chief Executive Officer of SP Setia.

“Singapore is a good market to enter but we will do it step by step,” said Mr. Liew at the Invest Malaysia 2011 event.

For a start, S P Setia plans to develop condominium projects in the country and in addition to cross selling, t also expects to offer the units to its Malaysian customers.

Meanwhile, the company’s upcoming launch of KL Eco City and Setia City, as well as the recent acquisition of three new projects in Klang Valley, will contribute RM21.5 billion in gross development value (GDV).

Mr. Liew said the government stimulus packages, coupled with the growing confidence in Malaysia’s private sectors, are fuelling the country’s property market.

Source : PropertyGuru – 14 Apr 2011

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