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欧博注册官网:SP SETIA INTERNATIONAL MARKETS BOUNCE BACK STRONG

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Comprising two towers with 60 and 62 floors linked by a skybridge, Sapphire by the Gardens in Melbourne, Australia, offers 345 units of luxury apartments and its houses the five-star Shangri-La Hotel.

SP SETIA is set to realise its total sales target of RM4bil by Dec 31, 2022 (FY2022), thanks to strong contribution from high-impact international projects and stronger local sales.

The practical completion of the Group’s international ventures in the United Kingdom, Singapore and Australia will see the bulk of cash flow proceeds and profits returned in FY2023, making the next couple of years the main beneficiary years for SP Setia with regard to international earnings.

These projects are the Daintree Residence in Singapore, UNO Melbourne and Sapphire by the Gardens in Australia, and Battersea Power Station in London.

Each of these projects is located in premium central business district locations, and delivers thoughtfully designed spaces with coveted amenities while embodying the “20-minute neighbourhood” – a living local concept whereby most daily needs are met within 20 minutes from home. It is a concept that is particularly well-suited to today’s quickly changing environments and consumer sentiment.

Rising demand

“Demand is evergreen in established locations like London, Melbourne and Singapore where house prices have historically trended upwards,” says SP Setia president and chief executive officer Datuk Choong Kai Wai.

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“House price growth in prime central London, for example, is steadily rising as the luxury property market recovers.

SP Setia’s EcoXuan township in Lai Theu, Vietnam, is a balanced mix of serviced apartments, a commercial centre and landed homes.

“In Melbourne, the demand for quality apartments in good CBD locations are starting to pick up again with international students returning and resumption of full migration.

“In fact the rental market has rebounded strongly as demand outpaces dwindling supply. A strong upward momentum is clear in these markets as offices reopen and their economies return to pre-pandemic health.”

Local momentum

SP Setia’s property sales have not just been gaining traction overseas, but also within Malaysia.

Local projects make up RM1.38bil or 83% of the RM1.67bil of total secured sales in the first half of FY2022.

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