S P Setia Berhad is recognised as Malaysia’s top listed real estate player with a proven history of innovation-driven and standard-setting developments. The strength of the Group lies in its prowess in creating meaningful environments based on its development philosophy of Live Learn Work Play.
The developer has constructed a solid base in Malaysia offering an extensive product range including eco refuges, townships, high-end residences, business parks, commercial and retail developments.
Incorporated in 1974, S P Setia started out as a construction company and was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) in 1993. To property development it refocused its core company in 1996 with supporting companies in construction, infrastructure and wood -based production.
S P Setia is the only Malaysian developer to be recognised six times from the International Real Estate Federation (FIABCI) for three Greatest Master Plan Developments, one Best Residential (Low-Rise) Development, a Specialised Endeavor (Purpose Built) and a Greatest Retail Development award. The Group has garnered eight FIABCI Malaysia Property Awards.
S P Setia’s product and service quality is recognised by the industry and attested by its No.1 position in The Edge Malaysia Top Property Developers Awards which it won for the 8th time in 2013. This feat has not been achieved by any other developer since the beginning of the awards.
A Growing International Presence
Within the last seven years, the Group has spread its wings to Vietnam, Singapore, Australia and more recently the United Kingdom.
S P Setia’s foray overseas commenced in 2007 when Vietnam’s top state-owned conglomerate, Becamex IDC Corp, picked S P Setia as its joint venture partner to start its 558-acre, USD880 million GDV township project, known as EcoLakes at My Phuoc. Following this success, the Group has also found a mixed development project called Eco Xuan at Lai Thieu in Tuan A District, Binh Doung Province.
In Singapore, S P Setia established an office in 2009 and two years later, the Group acquired a 29,440 sq ft site to develop a high-rise condominium called 18 Woodsville. The successful launching of this project spurred the developer to get another parcel of land for the high-end high rise project of Eco Sanctuary.
Fulton Lane’s successful start spurred S P Setia to look at more opportunities in Melbourne as well as the Group acquired another piece of land, this time on the upmarket St Kilda Road, also in the City of Melbourne for its Parque project.
In April 2012, S P Setia was invited by the Malaysian Government to direct the Malaysian association formed to jointly develop the China-Malaysia Qinzhou Industrial Park (QIP). In September S P Setia obtained Battersea Power Station jointly with Sime Darby and the Employees Provident Fund by way of a joint venture consortium.
Driving the Malaysian Property Sector
S P Setia appreciates a strong presence in the state of Selangor, Malaysia through its main projects, the 2,525-acre Setia acre – Alam and 791 Setia Eco Park. In town of Kuala Lumpur, the developer has built three high-end projects which are Setiahills, Duta Tropika and Duta Nusantara.
Leveraging on the strong demand for commercial and investment grade properties, S P Setia has also expanded into the commercial sector with projects like SetiaWalk, the Group’s first maiden retail mall project, Setia Avenue called the forthcoming KL Eco City along with Setia City Mall. The futuristic KL Eco City using its focus on sustainable development will function as a nexus of KL Eco City commercial residential and recreational interests for the estimated six million inhabitants of Selangor and Kuala Lumpur.
S P Setia is also well established in the state of Penang, Johor and Sabah, three other key economic regions in Malaysia.