This tower will be launched in the first quarter of 2012."We knew the demand for Kuala Lumpur properties was for smaller units," said Norhayati."Not shoebox units, but sizeable units catered for an urban living lifestyle." This would be better suited for the majority of the Sky Residence unit purchasers, who are younger professionals, according to Norhayati.
The BNM guidelines call for housing loans to be assessed on the applicant's net income rather than the gross income.
"There are some people who feel like this is the right time to buy," Norhayati told The Edge Financial Daily at the show house last week.
Within Setia Sky Residences, Norhayati said her company noticed the larger units were taking longer than others to sell, and the S P Setia team is taking this into consideration in fine tuning the plans of the last tower, Divina.
The third tower, Celeste, is currently selling the remaining units, which are of larger sizes.
The project, S P Setia's first luxury high-rise development in Kuala Lumpur, is located on a 2.4ha site at the intersection of Jalan Tun Razak and Jalan Raja Muda Abdul Aziz, and offers unobstructed views of the Kuala Lumpur City Centre (KLCC) twin towers and city skyline.
The group is now embarking on its largest development in the city to date, the RM6 billion KL Eco City project in Abdullah Hukum, near Midvalley City.
Setia Sky Residences have seen only minimal impact from the new housing loan guidelines announced by Bank Negara Malaysia (BNM).
By Joanne Nayagam of Monday, 19 December 2011 KUALA LUMPUR (Dec 19): S P Setia Bhd is targeting 1Q12 for the launch of the fourth and final tower of its Setia Sky Residences project in downtown Kuala Lumpur.
The first phase is in an advanced stage of development and will be completed in the second half of 2012.