Annual Report 2014 | S P SETIA BERHAD GROUP | 17
I. Performance Review
in the local Property
S P Setia has established a strong presence
in the state of Selangor, Penang, Johor and
Sabah, four key economic regions in Malaysia.
With a wide property portfolio of townships,
eco homes, luxury homes, high-rise residences,
retail & commercial properties and integrated
developments, S P Setia offers a plethora of
property types to accommodate communities
from all walks of life.
In the state of Selangor, its flagship projects,
the 2,525-acre Setia Alam and 791-acre Setia
Eco Park continues to launch innovative
products with high take up rate. Carefully
crafted, the township is emerging to be a self-
contained township with banks, F&B outlets, a
neighborhood mall, hypermarkets, commercial
areas and office towers.
Recently developed townships include Setia
EcoHill in Semenyih and Setia Eco Glades in
Cyberjaya, both developed with environmental
friendly features and green design concepts
across the masterplan.
In the city of Kuala Lumpur, the upcoming
mixed-use integrated development – KL Eco
City with its focus on sustainable development
will function as a nexus of residential,
commercial and recreational interests for
the estimated six million inhabitants of Kuala
Lumpur and Selangor.
The developer has also built three high-end
projects which are Duta Nusantara, Duta
Tropika and Setiahills in Kuala Lumpur.
Leveraging on the strong demand for
commercial and investment grade properties,
S P Setia has also expanded into the commercial
sector with projects such as SetiaWalk, Setia
Avenue and the Group’s maiden retail mall
project called Setia City Mall, located within
the township of Setia Alam.
In Johor, Penang and Sabah, the Group
continues to deliver quality products such as
Setia Business Park I & II, Setia Eco Cascadia,
S P Setia’s latest eco township in Johor, Setia
Vista and Setia V Residences in Penang and
Aeropod, in Kota Kinabalu Sabah.
to Global Frontiers
In the last seven years, the Group has also
spread its wings to Vietnam, Singapore,
Australia and more recently the United
S P Setia’s foray overseas began in 2007 when
Vietnam’s top state-owned conglomerate,
Becamex IDC Corp, chose S P Setia as its
joint-venture partner to launch its 558-acre,
USD880 million GDV township project. Known
as EcoLakes at My Phuoc, this ground-
breaking eco sanctuary located 30km outside
Ho Chi Minh City was named First Runner-up
in the FIABCI Prix d’Excellence Award for Best
Development Master Plan in 2010. Following
this success, the Group has also launched a
mixed development project called Eco Xuan
at Lai Thieu in Tuan An District, Binh Doung
In 2009, S P Setia established an office in
Singapore and two years later, the Group
acquired a 29,440 sq ft site to develop a high-
rise condominium called 18 Woodsville. The
successful launch of this project spurred the
developer to acquire another parcel of land for
the luxury high-rise project of Eco Sanctuary.
In June 2011, the Group previewed its first
project in Melbourne called Fulton Lane.
This high-rise condominium with distinctive
architecture designed by the acclaimed Karl
Fender of Fender Katsalidis Architects is
expected to enhance the northern end of the
CBD by offering quality dwellings.
Fulton Lane’s successful launch in November
2011 spurred S P Setia to look at more
opportunities in Melbourne and 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 lead the Malaysian
consortium formed to jointly develop the
China-Malaysia Qinzhou Industrial Park (QIP). In
September the same year, S P Setia acquired
Battersea Power Station together with Sime
Darby Berhad and the Employees Provident
Fund through a joint-venture consortium.
Battersea Power Station