Setia Sky 88, the much-awaited luxury service apartment project in Iskandar Malaysia, has attracted overwhelming response from buyers, according to a report by Bernama.
With prices ranging between RM600,000 and over RM1 million, all 353 international units of the twin towers were sold during its five-day preview in Singapore and Johor Bahru.
Setia Sky 88’s first preview was held in Johor Bahru from 25 to 26 August, while the Singapore preview was from 31 August to 2 September, said Ricky Yeo, General Manager at Setia City Development Sdn Bhd, the developer of the project.
“The response was overwhelming. In fact, we’re surprised by the huge response. It was totally unexpected. All the international units were sold out during the short five-day preview.”
He also noted that 40 percent of the buyers were foreigners, comprising not only of those from Singapore, but also those from Japan, South Korea, Canada, New Zealand, Britain and Hong Kong.
“Such attention indeed shows Iskandar Malaysia can be in the investment radar of international property buyers if we have the right product in place.”
Setia Sky 88 was jointly designed by Malaysia’s Atria Architect and Singapore’s CPG Architect. It has a gross development value (GDV) of RM480 million and will take more than four years to complete.
Upon completion, the 55-storey project will be the tallest building in Johor and will comprise 588 units of varying sizes. Prices of each unit will start from RM750 psf to over RM1,000 psf for those overlooking Singapore.
Moreover, Setia Sky 88 has the highest private view deck in Johor, offering unit owners a panoramic view of Iskandar Malaysia and Singapore’s coastline, added Yeo.