KUALA LUMPUR: S P Setia Bhd, the country’s largest property company by market capitalisation, saw the launch of its 3-storey terrace houses called “Caffra” fully taken up, as well as a 95% take-up of its 3-storey semi-detached “Serrata” homes, in Precinct 11, Setia Alam, Selangor, within a day on Sunday.

Caffra offered 100 units, with a built-up of 2,330 sq ft and priced from RM783,000 per unit, while Serrata offered 44 units, with built-up of 2,800 sq ft and priced from RM1.13 million per unit.

“Response to the launch was overwhelming. Prospective buyers were seen lining up at Setia Alam Welcome Centre since [last] Wednesday for the opportunity to book one of the 144 units released for sale,” said S P Setia divisional general manager of property division (central) Tan Hon Lim in a statement yesterday.

“The response from the market exceeded our expectations. This is a testament of the strong brand S P Setia has built based on our track record for the past 40 years,” he added.

Construction on the two projects has reached 50% completion, with full completion targeted by end-2015.

Conceptualised in 2004, Setia Alam is a 4,000-acre (1,618ha) township development, of which 2,550 acres and 791 acres are developed by S P Setia’s Bandar Setia Alam Sdn Bhd and Bandar Eco Setia Sdn Bhd respectively. The latter is a joint-venture company between the Employees Provident Fund (EPF) and Great Eastern Life under the development name of Setia Eco Park.

This article first appeared in The Edge Financial Daily, on January 14, 2015.