KUALA LUMPUR (Sept 29): SP Setia Bhd witnessed the topping out ceremony of its second development in Singapore, Eco Sanctuary, today at the rooftop of Tower C of the project.

Eco Sanctuary is a 24-storey condominium located along Chestnut Avenue, off Upper Bukit Timah Road and adjoining the Zheng Hua Park.

"The topping out ceremony here today proves that SP Setia has reached another milestone in Singapore and we are extremely delighted to have been able to bring to all this beautiful BCA (Building and Construction Authority) Green Mark Platinum-rated development here in Singapore," said the group's acting president and chief executive officer Datuk Khor Chap Jen in a statement today.

Eco Sanctuary is SP Setia's second venture into Singapore.

The condominium features three blocks of 483 apartments enjoying lush greenery and breath-taking views of the central nature reserve. Apartments come with the option of 1-bedroom, 2-bedroom, 2+study, 3-bedroom, 3+study or 4-bedroom.

According to the statement, dragonfly bio-ponds and songbird gazebos dot the landscape of the area. Ecologically themed gardens, such as the Papillon Path, Sunbird Walk, Dragonfly Walk and Lotus Creek, are available for the residents' pleasure.

The landscaping of the area is also designed to integrate with the adjoining park and lead to a cycling and jogging trail.

Besides, the development also features rainwater harvesting, and drip irrigation with rain and motion sensors.

All these eco influenced features has earned Eco Sanctuary the Green Mark Platinum.

"We are proud to be delivering a building of this calibre in Singapore showcasing our strengths in eco-themed developments. We look forward to doing more development projects in Singapore and have been studying the various opportunities available," said SP Setia's acting deputy president cum chief operating officer Datuk Wong Tuck Wai.

Meanwhile, SP Setia (Valuation: 2; Fundamental: 1.9) has obtained Temporary Occupation Permit (TOP) two months ahead of schedule for its first development in Singapore — 18 Woodsville, a freehold condominium located near Potong Pasir MRT station, on the rim of the city, said the group.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)