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KUALA LUMPUR: Property developer S P Setia Bhd has made a strategic move by building its latest landed residential project, ‘Bywater Homes’, with a gross development value of RM800mil in Setia Alam.

The soft-launch of Bywater Homes, comprising of 929 units on an 80-acre development site, is expected to be next month.

S P Setia’s Bandar Setia Alam Sdn Bhd general manager Tan Siow Chung said this was the last opportunity for buyers to purchase landed properties comprising double-storey terraced and semi-detached homes with measurements of 20ft x 70ft, 22ft x70ft and 32ft x 75ft in Setia Alam.

“Over 80% of the entire Setia Alam township has been developed, with the balance left for commercial development.

“We do not want people to miss out on this opportunity, ” he told reporters during a media briefing.

Bywater Homes offers double-storey terraced and semi-detached houses with an indicative built-up of 1,889 sq ft to 2,754 sq ft priced under RM700,000 to less than RM1.1mil after rebates.

Tan expects a “strong” take-up rate and interest from homebuyers after its launch next month, saying that Setia Alam is a matured township, which has a pent-up demand for landed homes.

“The built-up of the residential units with flexible layouts of up to four bedrooms make it ideal for extended families, ” he added.

Moreover, the development will have water features such as 24 acre-wetland park that enhances the housing estate’s outdoor living space with an 18-acre recreational park providing outdoor activities for residents.

With an enclave of gardens that is inspired by the most popular gardens around the world including the US, China and Europe, the development would encourage home buyers to step outdoors for an active and healthy lifestyle.

Besides that, Tan pointed out that S P Setia has also tied up with two banks, Maybank Bhd and HONG LEONG BANK BHD
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, to allow easy payment for the upfront 10% down payment for home buyers.

“The whole idea is to make it easier for our buyers to own homes.

“We are allowing easy payments for the down payment deposit if buyers are tight on cashflow, ” he said.

Given the slowdown in the property market, Tan said the demand for landed residential units in Setia Alam would not be impacted as the township is a “fairly matured” market with improved infrastructure and amenities as well as accessible location to highways.

He added that the completion of the Setia City Mall phase 2 in the township is expected to be bigger than Midvalley in Kuala Lumpur.

“We keep adding value in this township, ” Tan noted.

Phase one of Bywater Homes is slated to be completed by end-2021.

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