KUALA LUMPUR, Oct 8 — S P Setia Bhd’s wholly-owned subsidiary Setia EcoHill Sdn Bhd has entered a joint venture (JV) with property investment company Mitsui Fudosan (Asia) Malaysia Sdn Bhd to develop a 45.73-hectare (113-acre) residential development.
In a statement, the property developer said JV company Setia MF EcoHill Sdn Bhd will undertake the project in Semenyih at its flagship township Setia EcoHill.
S P Setia said the proposed development comprises 683 units of bungalows, semi-detached and cluster houses with an estimated gross development value (GDV) of RM1.3 billion. It will be launched in phases, with its maiden launch in 2026.
Setia president and chief executive officer Datuk Zaini Yusoff said the partnership will boost Setia EcoHill’s overall profile and marketability to local owner-occupiers and investors.
“We look forward to deepening and strengthening our relationship with Mitsui Fudosan over the long term following our first collaboration with them in December 2023 in Setia Federal Hill,” he said.
