S P Setia’s prospects brighten on BPS expansion

PETALING JAYA: S P Setia Bhd (S P Setia) is set to gain from the Battersea Power Station (BPS) project as future phases from the development are expected to deliver higher earnings, says CGS International (CGSI) Research.

BPS is a high-profile mixed development project located in the Southbank of Central London, spanning 42 acres with a gross development value of approximately RM46bil.

The research house said higher selling prices and low risk of further impairments from the project will assist S P Setia in posting stronger earnings in the second half of financial year 2025 and financial year 2026.

This will be supported by Phase 3C which is targeted to launch in the coming quarters including two 17-storey residential buildings and 306 new homes in the plan.

It will also include a community hub and retail space of approximately 70,000 sq ft, further enhancing the project’s vibrancy.

BPS has a competitive edge in securing regulatory approvals and kicking off construction amid constrained construction activity in the United Kingdom.