PROPERTY developer SP Setia Bhd group is projecting RM2bil in gross development value for its third township project here.

Group managing director Datuk Sri Liew Kee Sin said the project, Setia Tropika, located in Kempas, would be developed over a 10-year period.

The company’s two ongoing township developments in Johor Baru are Bukit Indah in Bandar Nusajaya and Setia Indah in Tebrau.

Liew said that upon completion, the township on 299.46ha of freehold land would have 8,000 residential and commercial properties with 32,000 residents.

''We are banking on product differentiation to attract buyers to our latest project,'' he told reporters at the launch of the Setia Tropika show village by Johor Mentri Besar Datuk Abdul Ghani Othman last Saturday.

Liew said the houses at Setia Tropika were different from those in existing projects in Johor Baru in that the houses incorporated contemporary architectural elements such as clean lines and wide use of glass panels, unlike conventional house designs.

The designs also feature rooftop garden terraces, indoor water features, built-in courtyards and double volume porches.

Liew said the company was also banking on the project’s strategic location just off the Kempas Interchange on the North-South Expressway and proximity to the city centre to attract buyers.

He said of the total 299.46ha, 202.34ha would be allocated for double-storey terrace houses for first-time homeowners and 80.93ha for semi-detached houses and bungalows.

Source : The Star 06/09/2005