About SP Setia

Inspired by a strong vision to be the best in all we do, S P Setia has rapidly grown to become a market leader in the property development industry in Malaysia. Incorporated in 1974, S P Setia started out as a construction company and was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) in 1993. Backed by a strong team, the company refocused its business to property development with supporting business in construction, infrastructure and wood-based manufacturing in 1996.

Daintree Residence site was launch by Urban Redevelopment Authority (URA), the land plot is located along Toh Tuck Road under the Confirmed List of the first half of the 2017 Government Land Sales (GLS) Programme. Other further specifications that have been announced for the land include Maximum Gross Floor Area (GFA) of 26,210 sqm and Maximum Building Height of 5-storeys.

Daintree Residence is developed by reputable Singapore-listed developer Setia, the development has site area of 18,721.4 sqm, comprising of 327 residential units with units mix ranging from 1-bedroom to 4-bedroom. Architect by ADDP Architects LLP, Landscape by Ecoplan Asia Pte Ltd and Interior Design by The I.D. Dept Pte Ltd.

It was announced that the Malaysian developer, S P Setia, had successfully won the land after providing the highest bid of SGD 265 million. Made open to the public on 28th February 2018 , bids for the land parcel, Daintree Residence were scheduled to close on the 11th of April 2018. This topped estimation by experts, who had guessed that the land would not receive bids above 200 million. This will be the land parcel for Daintree Residence.

The developer’s bid for the residential plot beat out those from 24 other major developers who had expressed interest in acquiring the land, including Singhaiyi Investments and Centrex Developments. The Toh Tuck Road new launch will be the S P Setia’s third property development in Singapore.

The chief executive officer and president of S P Setia, Datuk Khor Chap Jen, has expressed the developer’s interest in Singapore land as having identified it as one of the S P Setia’s key overseas markets. The Malaysian group first ventured into Singapore’s land development market in 2012 with their launch of the freehold condo, 18 Woodsville, which is located next to the Potong MRT Station. Since then, the Malaysian developer has also launched the 483-unit condo, Eco Sanctuary, which is situated along Chestnut Avenue.

Daintree Residence is targeted to be launched in July 2018 in Singapore with a completion date of approximately 60 months(December 2022). The group endeavours to strengthen their presence in Singapore with this third launch, and plans to showcase S P Setia’s mastery in developing eco-themed condos for residents of Singapore.

The group S P Setia plans to have their full acquisition of the land, which possesses a gross development value of SGD 457 million, completed by the third quarter of this year. According to information released by the group and other news sources, the intent is to fund the project through both bank borrowings and internal developer funds.

Future residents at Daintree Residence will enjoy a comprehensive host of shared facilities including swimming pool, lap pool, spa lounge, clubhouse, dining pavilion and more. A new height of relaxation and rejuvenation await you at this right home. This is a new honest with merriment moments for your family loved one.

Sources Articles Online:
http://www.spsetia.com.my/corporate/who-we-are.aspx
http://www.facebook.com/spsetia/
http://en.wikipedia.org/wiki/SP_Setia
http://www.propertyguru.com.sg/property-management-news/2017/4/150877/sp-setia-bags-toh-tuck-road-for-s265m
http://www.thestar.com.my/business/business-news/2017/04/18/s-p-setia-to-develop-rm1pt4bil-luxury-condo-in-singapore/
http://www.thestar.com.my/business/business-news/2018/02/27/sp-setia-plans-rm7b-of-projects-for-fy18/
https://www.edgeprop.my/content/1288242/sp-setia-sets-rm5-billion-sales-target-fy18