SP Setia open to more landbank acquisitions

By BUSINESS TIMES

KUALA LUMPUR: SP Setia Bhd is open to the opportunity to increase its landbank in Malaysia.
Acting president and chief executive officer Datuk Voon Tin Yow said the company was continuously looking to increase the size of its land although it was not aggressively seeking to acquire land any time soon.

“If there is a good opportunity then we will acquire,” he said here yesterday after the global launch of commercial leasing and residential sales of Battersea Power Station in London, which includes the project’s Phase 3 development.

The public exhibition was to create a new urban quarter for London and raise the development’s brand profile ahead of its Phase 1 opening in Spring 2016.

On Battersea Power Station’s Phase 3 development, Voon said he expects sales would be equally well as those of Phase 1 and Phase 2 as there had been encouraging week of sales of pre-registered and existing buyers in London.

“The global launch yesterday was aimed at bringing in global brandnames to the Battersea Power Station development as it launched both the commercial leasing and residential sales,” he said.
The public exhibitions, hosted by shareholders and Battersea Power Station Development Company (BPSDC) representatives, also opened yesterday in Paris, New York, Shanghai, Singapore and Hong Kong.

The exhibition opens today in Dubai and will move to Tokyo, Los Angeles, Beijing, Doha and Milan next week.

The £8 billion Battersea Power Station site is owned by a consortium of Malaysian investors comprising SP Setia, Sime Darby and Employees’ Provident Fund (EPF).

The development is set to become the new town centre and the anchor for the Nine Elms neighbourhood along the South Bank of London.

– Malaysia Property News