SHAH ALAM – S P Setia Bhd (“Setia” or “the Group”)’s verdant township of Setia Alamsari in Kajang has unveiled Teman shop-lots on November 30, 2024, to encouraging response – with up to 90% bookings on the launch day itself from prospective buyers, buoyed by the favourable demand from its catchment areas.
Teman shop-lots are surrounded by more than 80,000 residents, 10,000 homes and situated next to 6,000 apartment units. The unique, Brutalist-themed shop-lots are poised to be the next bustling commercial attraction in Kajang.
Coined “Teman” in Bahasa Malaysia, which is directly translated as “Companion”, the name signifies the shop lots to be a place to gather friends, residents and visitors, and to capture the essence of placemaking in the township.
S P Setia Bhd divisional general manager Koh Sooi Meng said, “We are thrilled with our recent launch – Teman – comprising 37 units in Setia Alamsari, which has gathered 90% bookings on the day itself. This is following the success of our previous, first launch of Emporia comprising 30 units of shops in Setia Alamsari.”
“There is an existing high demand for leasing, with several enquiries from reputable brands. This promising demand is expected to generate good rental yields, ranging from 6% to 8%,” he opined.
With a total gross development value (GDV) of RM106 million, Teman shop-lots will have a total of 37 units – comprising 20 intermediate units with built-ups of 3,332 sq ft (and aptly priced at RM1.91 million onwards; 4 corner units with built-ups of 5,184 sq ft (priced from RM3.4 million).
The launch will also include 12 semi-detached units with built-ups of 4,882 sq ft (priced from RM3.93 million onwards) and 1 single-detached unit with built-up of 5,531 sq ft (priced at RM6.22 million).
This dual-functionality is targeted for business owners who are looking for an integrated retail-work set-up. Its semi-detached structure provides opportunity for future expansion or customisation, such as adding upper floors for office use or extending the shop space, which would appeal to growing businesses. “
So far, we have received encouraging response from potential business owners of F&B, supermarkets, groceries and clinics who are keen to run their businesses in Setia Alamsari. Based on our research, the rental rates of intermediate shop-lots in the area can fetch between RM8,000 to RM9,000 per month; while corner shop-lots to RM20,000 to RM22,000 per month.”
Meanwhile, its previous launch Emporia is set to complete by early next year, together with the picturesque mosque Masjid Baiturrahman Alam Sari; and will be surrounded by scenic landscaping and our upcoming Pixel Park.
“We recognise the potential of this product type and will continue to enhance Setia Alamsari’s amenities to be more self-contained and sustainable township,” said Koh.
Vacant possessions of Caressa, Caralyn 1 and Caralyn 2
Concurrently, situated opposite the upcoming Teman shop-lots, its previous launch Caressa – which is the first of the Casa collection – has been handed over on 27 August 2024, with its buyer appreciation event held on 9 August 2024, followed by Caralyn 1 and Caralyn 2 on 7 November 2024.
“We are excited to announce the first phase of our Linked Semi-D Casa collection – Caressa, Caralyn 1 and Caralyn 2 – has been successfully handed over,” said Koh. He added, “We observe that there has been a good appreciation of the first phase of the semi-detached clusters.”
The first phase was originally launched in September 2022 at RM788,000. “Compared to the price of our latest launch, Carabella, which has seen a significant appreciation with current prices ranging between RM959,000 and RM999,000 as of September 2024. This notable growth reflects the increasing value and desirability of our developments,” he added.
Enhanced connectivity
Meanwhile, a new link road now connects Setia Alamsari South and North, providing direct access from the main road, which connects Setia Alamsari to PLUS highway via new junction along Jalan Bangi Lama. This improved connectivity enhances convenience and accessibility for all residents and visitors.
To date, Setia Alamsari is connected via major highways such as the KL-Seremban North South Highway (PLUS), Kajang Dispersal Link Expressway Highway (SILK), and the Kajang Seremban Highway (LEKAS), New Putrajaya Link, Putrajaya Cyberjaya B15 Highway, South Klang Valley Expressway (SKVE), Cheras Kajang Expressway, Shah Alam Expressway (KESAS), Sungai Besi Highway (BESRAYA) and the Damansara-Puchong Expressway (LDP).
The 775-acre township of Setia Alamsari, which in total has a gross development value (GDV) of RM5.1 billion, and with a balance GDV of RM3.84 billion. Its masterplan consists of 10,000 residential units, commercial lands and an estimated 40,000 population upon completion, with eight thematic zones with different landscapes.
Its nearby amenities include Emporia shoplots at Setia Alamsari, Masjid Baiturrahman Alam Sari, Bangi Gateway, EVO Mall, Metro Kajang, Metro Point Kajang, IOI City Mall, to name a few. The township is situated nearby Danau Golf Club, Bangi Golf Club, Taman Tasik Cempaka, Bangi Wonderland Themepark and Resort, Stadium Kompleks Sukan Seksyen 15 and Stadium Kajang, educational institutions such as Universiti Kebangsaan Malaysia (UKM), German Malaysian Institute, SMK Bandar Baru Bangi, Rafflesia International School, Greenview Islamic School, among others.