S P Setia has officially announced its collaboration with Mitsui Fudosan (Asia) Malaysia Sdn Bhd to embark on a joint venture for the development of two prime commercial land parcels, totaling 2.67 acres in Setia Federal Hill, Bangsar.
This strategic partnership aims to breathe new life into the dynamic Bangsar neighborhood, providing S P Setia with a valuable opportunity to expand its footprint in the highly coveted Bangsar district.
The estimated Gross Development Value (GDV) for this expansive project is approximately RM1.4 billion. The development plan encompasses two residential towers, offering around 1,300 units, with the launch of the first tower scheduled for the upcoming year.
President and CEO of S P Setia Berhad, Datuk Choong Kai Wai, highlighted the significance of this joint venture, stating, “This collaboration brings together one of the country’s top developers and a distinguished property investment company in Malaysia. The combined expertise of S P Setia and Mitsui Fudosan is poised to unlock the full potential of the development and redefine the skyline of Setia Federal Hill.”
Setia Federal Hill, sprawling across 51.66 acres, stands as a prestigious development in the prime area of Bangsar, strategically located opposite KL Sentral. With its unparalleled convenience and accessibility, the project is expected to experience robust property growth in the heart of Kuala Lumpur, attracting discerning homebuyers and investors alike.
Datuk Choong expressed delight in the partnership with Mitsui Fudosan, stating, “The collaboration with Mitsui Fudosan is a testament to our commitment to excellence in every endeavor.”
This venture further solidifies S P Setia’s position as a leading player in the property development industry, showcasing its determination to spearhead innovative and transformative projects.
