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Article: SP Setia sees 20pc return from maiden retail project
- Article from:
- New Straits Times
- Article date:
- August 14, 2009
- Author:
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Goh Thean Eu
New Straits Times
08-14-2009
SP Setia sees 20pc return from maiden retail project
Byline: Goh Thean Eu
Edition: Main/Lifestyle
Section: Business Times
Type: Company
PROPERTY developer SP Setia Bhd expects its maiden retail venture to register a 20 per cent return-on-equity per annum over a 15-year period.
The Setia City Mall, a retail mall in Setia Alam, Shah Alam, will be developed by Greenhill Resources Sdn Bhd, a 50:50 joint-venture company between SP Setia and Lend Lease Asian Retail Investment Fund 2.
The RM450 million mall, which will start construction in two months, is expected to be fully occupied even before it opens in 2012.
"We have secured three anchor tenants and ...