In 2013, the group launched the highly successful Setia EcoHill township, which has a gross development value (GDV) of RM4 billion.
The first three phases are fully sold and the last phase, launched in 3Q2015, is 70% taken up.
Setia EcoHill’s success spurred the group to launch Setia EcoHill 2, which is located a mere 3km away.
“For Setia EcoHill 2, the focus will be on nature,” says Koh Sooi Meng, deputy general manager of Setia EcoHill 2.
“Our strength lies in landscaping. The township is inspired by the three key elements of nature — air, water and earth. We intend to preserve the natural undulating terrain and create new recreational areas along the slopes leading up to Bukit Tempurung (near Semenyih)."
"We also plan to plant more than 10,000 trees around the township."
“When we first acquired this piece of land, we noticed something special about it — the water bodies, the terrain and the greenery. Then, our architects studied the features of the area and recognised three distinctive landscapes — wetlands, woodlands and highlands. The natural surroundings also ensure good feng shui. These are the unique features of the township, which are hard to come by.”
S P Setia is set to launch the first phase of Setia EcoHill 2 — Springfield Residences — next month. Koh says the show units are now open for viewing.
“We are targeting young couples, families and upgraders who are owner-occupiers from the surrounding areas as well as nearby suburbs of Cheras, Seri Kembangan, Petaling Jaya, Damansara, USJ, Klang and Shah Alam,” he says.
Springfield Residences, which has a GDV of RM228 million, will occupy 180 acres. It will consist of 258 units of 2-storey terraced houses and 96 units of cluster or linked semi-detached homes.
The terraced houses will come in three designs: Alexus (4 bedrooms + 3 bathrooms, with a built-up of 1,859 sq ft), Banyas (4 bedrooms + 3 bathrooms, with a built-up of 1,909 sq ft) and Clarus (4+1 bedrooms + 4 bathrooms, with built-ups of 2,155 to 2,148 sq ft).
The semidees, Everna, will have 4 bedrooms and 4 bathrooms and a built-up of 2,028 sq ft. The lot sizes of Alexus, Banyas, Clarus and Everna are 20ft by 65ft, 20ft by 70ft, 22ft by 70ft and 32ft by 60ft respectively.
The houses are priced between RM553,000 and RM668,000 and scheduled for completion in mid-2018.
More than 80 acres in Setia EcoHill 2 are earmarked for eight nature-themed parks, says Koh. To reduce the township’s carbon footprint, the developer will build an 18km bicycle path.
The township will also boast an 11-acre hill park and a nature-inspired clubhouse called 360° Club House at the highest point of Setia EcoHill 2, which will feature an Olympic-sized swimming pool and a multi-sports centre.
“One of the striking features of the township will be the basil leaf-inspired roundabout, which channels traffic to the directions of the eight parks. There will also be two pavilions — one resembling a beehive and the other, a bird’s nest — for the residents to enjoy nature from a high point without disturbing the natural environment.”
The group is offering house buyers a 10:90 package for Springfield Residences. Koh says buyers need to pay only 10% of the price of the house now, and the remaining 90% when the property is completed.
He also says the township will have easy access to the Kajang-Seremban Highway (LEKAS). “Residents will find it easy to travel to Kajang, Cheras, Putrajaya, Seremban and Kuala Lumpur.”
Setia EcoHill 2 is also connected to the North-South Expressway, South Klang Valley Expressway and Sistem Lingkaran Lebuhraya Kajang Highway.
Koh says the group has allocated RM50 million for the extension of a link to LEKAS. “Earthworks for the 3km extension started last month and we expect it to be completed next year.”
He highlights that amenities within a 20km radius include Tesco hypermarket and eateries such as McDonald’s, Pizza Hut and KFC. Educational institutions nearby include Sekolah Kebangsaan Kampung Rinching, Nottingham University (Malaysian campus), German-Malaysian Institute, Kolej Tuanku Jaafar and Universiti Putra Malaysia.
Demand in Semenyih
“We are confident that Semenyih will continue to grow. As it is, many developers are building here. We foresee prices rising in the future,” Koh says, adding that property values in Semenyih typically grow 25% to 30% annually.
Other developments taking shape in Semenyih include Eco Majestic by Eco World Development Group Bhd, Diamond City by a joint venture between Country Garden and Myland, Brogaville by I&P Bhd, Camelia Residence by Majestic Group and Tiara South by Kueen Lai Group of Companies.
Stanley Toh, a director at LaurelCap Sdn Bhd, says terraced houses are the best-selling residential property in the area.
“Landed homes in Semenyih can fetch rents of between 50 sen and 60 sen psf. The yield is 2% to 3%, depending on the location. House prices range from RM250 to RM400 psf.
As for non-landed homes, rents range from 60 sen to 90 sen psf, depending on the location and facilities. The yield is 3.5% to 4.5%. The prices of older apartments and condominiums are between RM180 and RM300 psf. For the newer ones, it’s RM350 to RM400 psf,” he says.
A balanced township
Setia EcoHill 2, which will also have a commercial component, has a GDV of RM5 billion. Its net sellable area is about 500 acres — 382 acres for homes and 119 acres for commercial properties. The remaining 510 acres will be for amenities, landscaping and common areas.
Setia EcoHill 2 is expected to be developed in 18 phases over the next 10 years.
According to S P Setia’s plan, the township will have 8,024 homes — 2,284 terraced houses, 1,300 semidees, 306 zero-lot bungalows, 109 bungalows, 1,610 low-cost high-rise units and 2,415 low medium-cost and medium-cost high-rise units.
There will also be 13 commercial plots of between 1 and 18.9 acres.
The group is currently in talks with private educational institutions to set up an international school on a 35.9-acre parcel.
In an effort to promote a love for nature, S P Setia plans to have over 300 species of trees and wildlife such as birds, squirrels and insects in Setia EcoHill 2.
Koh reveals that they have approached Malaysia Nature Society to find ways to promote environmental and nature preservation in the township.
He says after Springfield Residences, the group is looking at launching the commercial component. “We plan to launch 100 commercial properties with a GDV of RM200 million.
“We hope Setia EcoHill 2 will become a prosperous community with the natural greenery and wildlife maintained.”
Original article: Setia EcoHill 2 to launch first phase next month. This article courtesy of The Edge, City & Country, a pullout of The Edge Malaysia Weekly, on 23 May 2016.