S P Setia expects delayed completion for Battersea power station phase 2 and 3

S P Setia expects delayed completion for Battersea power station phase 2 and 3

KUALA LUMPUR (May 16): Property developer S P Setia Bhd is expecting a delay of around one year in the Battersea Power Station (pictured) phase 2 and phase 3 projects.

The Battersea Power Station phase 2 and phase 3 projects are now targeted to be completed and opened to the public by 2021, said S P Setia’s chief executive officer Datuk Khor Chap Jen at a press conference after the group’s annual general meeting here.

Khor expects some marginal changes in terms of the take-up rate following the delayed completion, as phase 3’s take-up rate has declined to about 67% from 70% previously.

For phase 2, however, Khor is optimistic the project will maintain its take-up rate of 90%, due to discerning buyers as well as its strategic location in the Battersea Power Station.

At the noon market break today, S P Setia shares were unchanged at RM2.09, for a market value of RM8.39 billion after some 65,900 shares changed hands.

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