KUALA LUMPUR, 12 January 2013 – The Battersea Power Station redevelopment project in London led by the Malaysian consortium of S P Setia, Sime Darby Property and Employees Provident Fund was officially launched today by Dato’ Seri Chor Chee Heung, Minister of Housing and Local Government at the Setia International Centre in Bangsar.

After just four months since the completion of sale of the Power Station, the project owner, Battersea Project Holding Company Limited (BPHCL) is ready to launch Phase 1 of the project named Circus West at Battersea Power Station. The Malaysian launch followed just two days after the UK opened for sale on 10 Jan.

Tan Sri Liew Kee Sin, Chairman of BPHCL and CEO of S P Setia Berhad said “The interest shown in the project by our customers, Malaysian and international property investors has been absolutely overwhelming. Before we launched in the UK we already had more than 2,000 registrants and the number is increasing every day. We have allocated 400 units to be sold in Malaysia and are confident that we can achieve this within the next few months.”

Circus West at Battersea Power Station is a mix of 800 units of studio, 1, 2 and 3 bedroom apartments, townhouses and penthouses as well as a blend of offices, shops, leisure and hospitality designed by Ian Simpson Architects and de Ryke Marsh Morgan (dRMM). Prices start from £338,000 for a studio, from £423,000 for a one-bedroom, from £613,000 for a two-bedroom and £894,000 for a three-bedroom apartment with first occupancy expected to be in 2016.

Situated on the western side of the Power Station, Circus West at Battersea Power Station will be a thriving new community where people come to live, work, socialise and spend their leisure time. As well as over 800 apartments, suites, townhouses and penthouses across eight buildings, Circus West will have a range of amenities and services including art galleries, a Power Station Design shop, independent coffee shops, a boutique theatre, 35,000 sq ft of creative business studios, a 15,000 sq ft gym, an indoor swimming pool and a health spa. The Gross Development Value of the Phase 1 residential development is approximately £1 billion.

All residents will have access to an elevated residents garden, with most apartments having an enclosed ‘Winter Garden’ that will provide useable outside space all year around, whilst the penthouses will have private rooftop terraces. Circus West residents will also have access to a 5,000 sq ft private Residents Club designed by David Linley – this club will have a bar, private dining space, library, business centre and a cinema.

[Dato’ Wahab Maskan, Chairman of the Executive Committee, BPHCL and Managing Director of Sime Darby Property commented “We are delighted at the speed in which the project has got off the ground. This demonstrates the strong capabilities of both our UK and Malaysian teams who have been working closely together to achieve this historic event. I am also pleased to note the interest and support shown by our customers in the project”.

EPF CEO Tan Sri Azlan Zainol said, “At the EPF we are always on the lookout for good investment opportunities in the interest of our members’ retirement well-being. The successful launch of this iconic project within only four months from the time of the acquisition of the site affirms our confidence that this joint-venture would deliver results.”

In his speech to officiate the Malaysian launch of the Battersea Power Station project, Dato' Seri Chor Chee Heung, Minister of Housing and Local Government congratulated the consortium for flying the Malaysian flag high and for their speed in execution.

He noted that having a Malaysian consortium revive Battersea Power Station, a project that has been long anticipated globally, is something of national pride. He also encouraged more Malaysian developers to take up the challenge of venturing overseas to gain better experience and bring back what they have learnt to improve and implement new ideas locally.

Preparatory work on the first phase, which consists of two residential apartment blocks on a single podium to the west of the 39 acre site, has already begun with construction expected to commence in the second half of 2013. This will coincide with the start of the renovation of the Grade II* listed Power Station, the largest brick building in Europe and one of the most significant surviving examples of Art Deco architecture. Completion of the first phase of the development is expected in 2016.

The site will also provide large areas of public open space including a new six acre riverside park that will provide direct access to Battersea Park and Chelsea via a new riverside pathway adjoining the existing River Thames Walk.

The London Borough of Wandsworth granted detailed planning permission for Phase One of the Battersea Power Station development on 13 December 2012. This followed the Autumn Statement on 5 December 2012, in which the Chancellor of the Exchequer confirmed the UK government’s support for a £1 billion loan and a guarantee to extend the Northern Line underground to Nine Elms and Battersea Power Station.