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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.

Driving the


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