SP Setia Bhd will be giving away free trips as part of its 40th Anniversary celebration, according to a report from The Star.
In total, eighteen lucky individuals could bag a free trip for two to Langkawi, Singapore, Ho Chi Ming City in Vietnam, China’s Nanning, Melbourne in Australia and London, UK.
The contest is open to clients who have purchased an SP Setia property with a minimum value of RM201,000. But buyers must have signed their S&P agreements between 1 January and 1 December 2015.
The winners will be announced in three batches on 19 September, 31 October and 12 December.
During the announcement for the Jet Set contest, the company also revealed that it would soon unveil a 9-acre freehold residential project in Penang, boasting a gross development value (GDV) of RM350 million.
“Most of the approvals [for the project] have been obtained,” said SP Setia CEO and acting Deputy President Datuk Wong Tuck Wai.
To be launched in Q4 2015, the development consists of apartments with an average size of 1,100 sq ft and priced from RM800,000 to RM1 million per unit.
Meanwhile, Wong is confident that SP Setia would hit its sales target of RM4 billion for fiscal year ending on 31 December. However, it is lower than last year’s figure of RM4.3 billion due to weaker economic environment.
“All developers are faced with a tight lending regime. We need to wait for banks to approve loans, although the capturing of bookings has been on track,” he explained.
Furthermore, Wong believes that the depreciation of ringgit would not significantly impact SP Setia’s Battersea Power Station project in London
“We have a great Chief Financial Officer who has done all the hedging for us, hence the investments are well mitigated,” he added.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
