Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Saturday, February 16, 2008

SP Setia sees revenue rise

New and existing projects to rake in RM1.8b

PENANG: SP Setia Bhd expects to generate about RM1.8bil in sales revenue from new and existing property projects in the country and overseas in the financial year ending Oct 31.

Speaking at a press conference during the company’s Chinese New Year celebration here, group managing director and chief executive officer Tan Sri Liew Kee Sin said new property launches in Vietnam were expected to rake in sales of RM300mil to RM400mil.

Existing and new projects in Penang were seen contributing about RM250mil, he said, adding that it planned to launch Setia Vista, a RM250mil landed property scheme in Relau, in April.

Tan Sri Liew Kee Sin posing for a photo at the SP Setia Show Village.

“The Eco Garden scheme, to be launched in Johor Baru (tomorrow), and other existing projects in Kuala Lumpur would generate the rest of the (targeted) revenue,” Tan said.

He said the Setia Pearl Island project in Sungai Ara had generated RM286mil in sales revenue since its launch last April.

“We are interested in introducing ecological-friendly development projects to Penang.

“In our projects, every plant, tree and shrub is planted to serve a particular ecological purpose.

“Landscaping and ecological planning is what differentiates SP Setia from other developers,” he said.

Tan added that the group was currently sourcing for land in Penang to launch new projects.

By The Star (by David Tan)

No comments: