Friday 29 Mar 2024
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KUALA LUMPUR (April 25): SP Setia Bhd has secured RM315 million banking facilities for its Setia Eco Templer township project with a gross development value of RM2 billion, as well as RM200 million working capital term loan from AmBank Group.

"We are truly excited with Setia Eco Templer and glad that Ambank is part of this by offering the banking facilities for the project, besides the working capital loan go us. This shows the trust the bank has on our capabilities and good credit rating," said the group's president and chief executive officer Datuk Khor Chap Jen in a statement.

Ambank Group chief executive officer Datuk Sulaiman Mohd Tahir said it was an honour to finance the project, which was one of the prominent and biggest eco-themed developments in the Klang Valley launched this year.

"Our partnership with Setia Eco Templer extends beyond the development of the township. Home buyers interested in purchasing units at Setia Eco Templer through AmBank, will receive special home loan packages with competitive rates and favourable terms from AmBank; there are also special packages on Fire and Contractors’ All Risk insurance for home buyers of Setia Eco Templer,” Sulaiman added.

The project, which will be located on the former site of the Perangsang Templer Golf Club in Templer Park, is a joint-venture development between Setia Eco Templer Sdn Bhd and Cash Band (M) Bhd.

The township on a 194-acre site will feature residential and commercial properties with Balinese, English and Peranakan themed architectural designs, and will take about seven years to complete, SP Setia said.

"The master plan for the township includes provisions for link villas, semi-detached homes, bungalows and affordable apartments, supported by a palatial clubhouse. The clubhouse features an Olympic-sized swimming pool, gymnasium, ballroom, function rooms, food and beverage outlets," it added.

Construction for phase one is expected in June, which include English-themed two-storey link villas, double-storey semi-detached homes, double-storey bungalows and Rumah Selangorku affordable homes.

Meanwhile, Khor added that the group will build a new interchange connecting directly to Jalan Ipoh to serve the community of Setia Eco Templer, at a cost of RM25 million.

“As with most of Setia’s township development, we always ensure that good infrastructure is put in place, to deliver better connectivity and convenience for our purchasers. To this end, we will build a new interchange connecting directly to Jalan Ipoh, to serve the community of Setia Eco Templer. This interchange costing about RM25 million, shall be completed upon vacant possession of Setia Eco Templer’s first phase," he said.

In addition to that, plans are in place to upgrade the existing Jalan Anak Bukit Takun to create a cycling path and walkway to promote a healthier lifestyle for its residents, SP Setia said.

At closing today, SP Setia dipped five sen or 1.52% to RM3.24, for a market capitalisation of RM8.5 billion.

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