|
Buoyant consumer sentiments, record number of tourist arrivals, and internationalisation of the Malaysian property market have given Malaysia’s commercial retail sector a big boost.
Recogn
ising the strong prospects and tremendous opportunities, SP Setia has developed plans to venture into this sector in a big way. A leading developer renowned for its award-winning residential projects, SP Setia has planned a series of commercial projects to capitalise on the opportunities and establish itself as a serious commercial property developer.
SP Setia’s maiden commercial project comes in the form of the RM800 million Setia Walk, which is set to transform the Puchong area. Built on a 20.8 acre plot in the matured township of Pusat Bandar Puchong, the project is highly visible from the Damansara Puchong Expressway (LDP) and located opposite the proposed Puchong light rail transit (LRT) station.
Positioned as a one-stop boutique lifestyle centre, the project will be an integrated residential and commercial development which comprises offices, retail blocks, an entertainment complex, serviced and residential apartments. The commercial area will combine conventional shop offices and a shopping mall. With a potent blend of innovative architecture, creative landscaping and an exciting retail mix, Setia Walk will undoubtedly be a desirable place to live, work and play.
Phase One will consist of 85 blocks offering 170 retail and 336 office units. Prices of shop offices range between RM2.5 million and RM8.9 million per block. Retail lots will be located on the ground and first floors, and offices will occupy the higher floors.
Phase Two will feature a business hotel, office tower and entertainment complex which will house cineplexes, bowling alleys and karaoke lounges; while apartments will be built in Phase Three. According to the company, buyers can expect annual rental yields of 10 percent.
The commercial zone will be segregated into three main areas. The Active zone will comprise a child development centre, play zones, and children-centric retail shops; the Sanctuary zone will include fine dining restaurants, spas and beauty centres; and the Escape zone will feature alfresco food and beverage outlets, such as cafes and bistros.
The residential component will include three 27-storey blocks offering a total of 759 units. Prices start from RM210,000. There will also be 46 small office home office (Soho) units.
Other features that business owners and customers can look forward to include: 24-hour security, two-level basement carparks and beautifully landscaped pedestrian walkways.
| 
