S P Setia Bhd (S P Setia) has extended the Setia 5/95 Home Loan Package for another three months until 19 July, the company announced end April.
Launched in January, the financing package garnered great buying interest from the public and saw other industry players following suit by introducing various incentives for property buyers.
“We are delighted with the overwhelming response we have received under the programme. Total sales to date on our existing projects have reached RM500 million, a result which exceeded even our expectations,” said Tan Sri Liew Kee Sin, president and chief executive officer of S P Setia.
According to Liew, the company hopes to enable as many people as possible to benefit from the programme, by extending its marketing campaign for another three months.
“With this extension, registrants for our existing projects in the Klang Valley, Johor and Penang as well as our upcoming new project launches namely Setia Vista in Penang, the Solace Apartments at SetiaWalk, Puchong and our maiden luxury high-rise Setia Sky Residences on Jalan Tun Razak will also qualify,” said Liew.
The Setia 5/95 Home Loan Package only requires a five per cent down payment with no interest payable during construction and the purchaser only begins servicing his 95 per cent loan upon completion of the property. Other benefits in this package include free legal fees and no stamp duty on the sale and purchase agreement, loan agreement and the memorandum of transfer as all these costs are absorbed by the developer.
Applicable to all of its residential properties in the Klang Valley, Johor and Penang, the campaign is currently supported by five local financial institutions namely Direct Access (a division of CIMB), Maybank, Public Bank, EON Bank and AmBank.
“We believe the phenomenal response to our home loan package indicates that the market has not lost interest despite external economic pressures. I am confident that Malaysia’s strong fundamentals will see us through these difficult times and I would like to encourage all industry players to do their bit to help stimulate the country’s economy,” Liew added.
Following the success of its Setia 5/95 Home Loan Package, the developer has also introduces its Setia 5/95 Commercial Loan Package for its commercial properties. Under the commercial campaign, the loan repayment only starts one year after completion of the property. All other incentives still apply and the package is also available until 19 July 2009.
