Latest news with #SPSetia
The Star
30-07-2025
- Business
- The Star
S P Setia breaks ground on Setia Garden Residences in Ho Chi Minh City
From far left: Lai Thieu Ward's Leader Trương Công Thạch; Malaysia External Trade Development Corporation (MATRADE)'s Trade Commissioner Zaimah Osman, Consul General of Malaysia (Ho Chi Minh) Firdauz Othman; S P Setia's Chief Operating Officer Datuk Zaini Yusoff; S P Setia's President and CEO Datuk Choong Kai Wai, S P Setia Vietnam's General Director Sherman Kam, Phuoc Thanh Construction Corporation's Chairman Nguyen Hai Ho; Phuoc Thanh Construction Corporation's CEO Tran Tu Thanh and DPSCons Director Tran Van Cau, at S P Setia's groundbreaking ceremony for Setia Garden Residences at EcoXuan in Ho Chi Minh City, Vietnam on July 26, 2025. KUALA LUMPUR: S P Setia Bhd recently held a groundbreaking ceremony for its Setia Garden Residences project at EcoXuan in Ho Chi Minh City, Vietnam. The developer said the project is located within its EcoXuan township, in Bình Dương Province, in the urban area of Bình Dương Province, which is now part of Ho Chi Minh City.
News.com.au
23-07-2025
- Business
- News.com.au
$114m sale for Carlton's largest development site in a decade
The $114m sale of a development site within Carlton's education precinct has been hailed as a game-changer for Melbourne's future. Located in the former Carlton & United Breweries site, the 185–195 Queensberry St and 46–78 Bouverie St land parcel has been snapped up by Malaysian property giant SP Setia in an off-market deal. At 6561sq m it's believed to be the largest Carlton development site to have changed hands in a decade. Inner city site with $150m tower proposal sells Although there's no current planning proposal in place for the address, it's expected that SP Setia will look to build a mixed-use development comprising retail, residential and purpose-built student accommodation. It's the latest in a line of massive sales within inner Melbourne including Cbus Property buying a 1.04ha site in River St, Richmond, for about $55m through the commercial property agency LAWD earlier this month. In June, a Bourke St six-level complex with tenants such as JB Hi-Fi and Victoria Police fetched $80.1m in a campaign headed by Cushman & Wakefield and JLL. Cushman & Wakefield's Leon Ma, Oliver Hay and Daniel Wolman brokered the Carlton deal. Mr Hay said that SP Setia's acquisition reflected a broader trend of renewed offshore capital flowing into the Australian property market, particularly in education-linked areas. 'As the last development opportunity of this scale in Carlton, the site's future transformation will likely reshape the precinct's urban fabric – bringing new life to a pocket of the city already rich in culture and connectivity,' Mr Hay said. Mr Ma said the vacant site had attracted strong interest from both local and international developers. He added that although it was unknown how tall any future development could be, the nearby Swanston Central stands at 71 storeys. But Mr Ma noted that Victoria's planning laws had changed significantly since the $350m tower's now-completed construction began in 2016. SP Setia's other projects include La Trobe St's Sapphire by the Gardens development incorporating luxury residences and a five-star hotel. Billionaire businessman Adrian Portelli bought a penthouse in the residential tower for $39m, in 2023. SP Setia's is also behind the UNO apartments in A'Beckett St and the $225m Fulton Lane Apartments and Fulton Lane Tower in Melbourne, built upon a car park formerly owned by retail tycoon Solomon Lew. Managing director of the independent commercial property firm Wizel Property Group, Mark Wizel, sold the Carlton site to a previous owner for about $68m in 2014. At the time, he marketed the 'Swanston Super Site' with a logo similar to the 'S' symbol on Superman's uniform. Mr Wizel said the site's latest sale was likely the largest inner Melbourne development site to have been sold since 2020. 'It bodes really well as a strong sign of continued future development in Melbourne's CBD and the immediate CBD fringe,' Mr Wizel said. He noted that increasing numbers of educational, build-to-rent and student accommodation projects were moving the edges of Melbourne's central business district as homelessness and crime rises in the CBD itself. Mr Wizel said that Prime Minister Anthony Albanese's recent meeting with Chinese President Xi Jinping in Beijing would hopefully open up more business between the two nations, in turn supporting local industry and boosting housing supply in Melbourne. 'I think you'll find a lot of Asian capital will make moves and re-set the industry again for the next decade which we really need,' Mr Wizel said.
The Star
23-07-2025
- Business
- The Star
Redefining Setia EcoHill 2's commercial landscape
An artist's impression of Setia EcoHill 2's Nadi 3A, which garnered a 70% take-up rate during its launch weekend. SETIA EcoHill 2, the sprawling 409ha (1,010-acre) freehold township in Semenyih, is transforming into a vibrant, sustainable community, with the latest additions to Setia Commerce Square. The successful launch of Nadi (Phase 3A), alongside landscape enhancements across the township, marks a pivotal moment in the development of a holistic community environment. As Klang Valley's Southern Corridor continues to evolve into the next hotspot for urban expansion, savvy investors are turning their attention to commercial development in Semenyih. Strategically located within the burgeoning Setia Commerce Square, Nadi 3A, alongside other Nadi phases, is envisioned as the central business district of the Setia EcoHill 2 master plan. Its development has garnered a 70% take-up rate during its launch weekend, highlighting the demand for versatile commercial spaces within the township's mature and steadily growing population. 'Buoyed by the overwhelming response to Nadi 3A, we are now preparing to roll out Nadi 3B, the final phase of shop-offices within Setia Commerce Square. Comprising another 44 units with the same sought-after layout, Nadi 3B is expected to launch in Q4 2025, at a slightly higher price point in line with increasing demand and market confidence,' said Setia EcoHill 2 divisional general manager Koh Sooi Meng. 'Our target demographic for Nadi is made up of business owners and brands that intend to expand their shops and operations within the residential catchment of Setia EcoHill 2 and its surrounding areas. 'The commercial development would also appeal to our loyalty programme of purchasers, known as Citizen Setia, who are looking into investment opportunities with S P Setia. We are confident that Nadi will add further value and vibrancy to the thriving Setia EcoHill 2.' An artist's impression of Nadi 3A, which will feature 1,144 parking bays for residents and visitors alike. Spanned across a 2.23ha (5.5-acre) freehold parcel, Nadi 3A has a gross development value of RM95.4mil. The development comprises 44 shop units, featuring 36 two-storey and eight three-storey shop offices, with built-ups ranging from 3,899sq ft to 8,365sq ft, and lot sizes between 26' x 75' and 42' x 75'. Prices for these commercial units range from RM1.79mil to RM3.8mil. Emerging retail opportunities Designed with businesses in mind — particularly F&B and retail establishments — the shop offices feature a generous 26-foot frontage with a column-free facade design, ensuring high visibility and accessibility for customers. Nadi 3A also prioritises convenience with 1,144 car parking bays and wide frontal walkways, promoting better inter-shop connectivity and a comfortable experience for visitors. Its ideal location within Setia Commerce Square promises long-term business sustainability, with upcoming key developments including a petrol station, corporate office buildings and a vibrant lifestyle F&B hub. Additionally, the strong flow of future businesses is secured by an existing captive market from surrounding matured township developments and a direct catchment of 5,470 upcoming apartment units nearby. Scheduled for completion by Q2 2028, Nadi 3A is set to become one of the most vibrant commercial districts serving the emerging Semenyih corridor. The development also benefits from excellent connectivity, situated next to the Lekas-EcoHill 2 Link, the main artery connecting Jalan Semenyih to the Kajang-Seremban (Lekas) Highway. Setia EcoHill 2 enjoys superb connectivity via major highways, making it an easily accessible and desirable location for businesses and residents alike. As part of Setia EcoHill 2, the Nadi commercial series is poised for robust growth, with 10,000 residential units to be completed by 2031. This includes access to the KL-Seremban North South Highway (PLUS), Kajang Dispersal Link Expressway (SILK), Lekas Highway, South Klang Valley Expressway (SKVE), Jalan Semenyih, Jalan Bangi Lama and East Klang Valley Expressway. As part of the RM5bil freehold of Setia EcoHill 2, the Nadi commercial series is poised for robust growth with 10,000 residential units slated for full development by 2035 in the mixed township. In line with its vision to create sustainable communities, S P Setia has recently undertaken significant enhancements to the landscapes and gardens at Setia EcoHill 2. The township is now even more enveloped in lush greenery, embracing its rich flora and fauna. The township is now even more enveloped in lush greenery, embracing its rich flora and fauna. With prices starting from RM1.79mil, Nadi 3A presents an attractive entry point within a promising commercial hub. Its strategic location within a rapidly growing township positions it well for long-term capital growth as demand and population density continue to rise. What further enhances its investment appeal is the attractive package by S P Setia, which absorbs legal fees and MOT, substantially reducing upfront costs. For investors seeking long-term gains, this creates significant room for capital appreciation, especially as Setia EcoHill 2 continues to gain traction and the population density increases. Book now to secure early-bird rebates and extra perks of the Setia Mad About Homes campaign, and stand a chance to win a serviced apartment at Temasya Prisma in Glenmarie, Shah Alam, valued at RM500,000. To find out more about Nadi 3A, contact 011-1289 4647 (Raisse) or visit Nadi 3 | Setia EcoHill 2. For additional info, visit the Setia EcoHill Welcome Centre at Club 360 in Semenyih for further assistance.
New Straits Times
15-07-2025
- Business
- New Straits Times
Lower rates, Iskandar 2.0, TODs to spur property rebound, says UOB Kay Hian
KUALA LUMPUR: Falling interest rates, steady mass-market housing demand and renewed investor interest in Iskandar 2.0 and key transit-oriented developments (TODs) are set to drive Malaysia's property market recovery in the second half of 2025 (2H25). In a recent note, UOB Kay Hian outlined three key drivers supporting its positive sector outlook. The drivers are the Iskandar 2.0 theme – buoyed by foreign direct investment (FDI) into industrial assets and fresh residential demand near the Rapid Transit System (RTS) Link; resilient mass-market housing demand, bolstered by the recent Overnight Policy Rate (OPR) cut and structural tailwinds such as minimum wage hikes; and a gradual recovery in investment appetite for TODs, aided by improved affordability and an updated Malaysia My Second Home (MM2H) programme. Reflecting the more accommodative rate environment, the broking has trimmed its sector RNAV discount by 3–5 per cent, raising its target prices for covered developers by 2–10 per cent. It maintains an OVERWEIGHT stance on the sector, with Sunway Bhd, Eco World Development Group Bhd, and Mah Sing Group Bhd as top picks. UOB Kay Hian noted that Bank Negara Malaysia's recent 25 basis point OPR cut should lower borrowing costs for developers and stimulate property demand, particularly among first-time buyers and upgraders. It estimates the lower rates could lift 2026 earnings by over 2 per cent for SP Setia, around 1 per cent for Sunway, and about 0.5 per cent for Eco World, based on their floating-rate debt exposure. For homebuyers, reduced mortgage rates could lower monthly repayments by about 3.4 per cent for a typical RM500,000 loan over 35 years. The research house expects Iskandar Malaysia to benefit from multiple upcoming catalysts, including the final plan for the elevated automatic rapid transit (e-ART) system, the launch of the Gemas-Johor Bahru electric train service (ETS) in August, and the anticipated Johor-Singapore Special Economic Zone (JS-SEZ) blueprint by year-end. "We expect the spotlight to return to Iskandar 2.0 after market recalibration. We are cautiously optimistic on data centre land demand following a reallocation of resources by global cloud players that has led to several stalled DC land deals in the first half of 2025 (1H25)," it said. Examples of these include SP Setia's 307-acre Tanjung Kupang land, UEM Sunrise Bhd's MOU with Logos Infrastructure Holdco (74 acres), IOI Properties Group's Kulai and Banting sites (180 acres), and Mah Sing's tie-up with Bridge Data Centre in SouthVille City. Of these, only Mah Sing has reported healthy date centre-related enquiries, likely driven by hyperscalers due to its infra-ready status. The sector's 12-month forward P/B ratio has risen to 0.85 times, up from 0.8 times in June but still below January's recent high of 1.0 times. Johor launch pipeline picks up pace Developers are ramping up launches near the RTS station in Bukit Chagar to capture cross-border commuter demand. Sunway will unveil its SOHO units at Sunway Majestic at RM800 psf in July, while Mah Sing plans to launch its premium serviced apartments, M Grand Minori, in August. Other projects in the pipeline include Eco Botanic 3 by Eco World (1Q26) and UEM Sunrise's Estuari Greens and Estuari ParkHomes (4Q25). UOB Kay Hian expects the uptick in launches in 2H25 to be well absorbed by resilient, less speculative demand, supported by tangible infrastructure progress and robust cross-border connectivity under the JS-SEZ framework. Affordable housing should remain resilient, supported by rising first-time buyer numbers and higher minimum wages. Developers such as Mah Sing (52 per cent of projects below RM500,000; 37 per cent in the RM500,000–700,000 range), Matrix Concepts (60 per cent below RM600,000), Lagenda Properties (majority priced between RM200,000 and RM300,000), and Eco World's "duduk" series are well positioned to meet this demand. Investor sentiment toward higher-yield residential units is also improving, particularly for well-located TODs. Projects like E&O's The Conlay and SWNK Houze @ BBCC – both offering direct MRT/LRT access – have started to attract fresh foreign interest. Residential loan applications rose 2.5 per cent month-on-month in May 2025, though they remain flat year-on-year due to a high base in 2024. Non-residential loan applications fell sequentially in May (-5.1 per cent m-o-m; +2.5 per cent y-o-y), but cumulative growth for the first five months of 2025 stood at a healthy 6.7 per cent y-o-y. The firm said given the elevated base in 2024, it expects limited growth in residential loan applications this year. "Looking ahead, we expect 2025 loan applications growth to be driven by non-residential segments, supported by ongoing industrial activity and FDI inflows, while residential applications are likely to remain flattish due to a high-base effect," the firm said. For 2025, UOB Kay Hian forecasts sector earnings to grow 7.4 per cent year-on-year, on the back of a 10.3 per cent revenue increase, excluding companies with differing financial year-ends. Margins are expected to normalise from record land sale gains in 2024, particularly for SP Setia and UEM Sunrise, while Lagenda Properties may see some margin compression as its new townships move into early construction phases. Malaysia recorded RM89.8 billion in approved investments in 1Q25, with Johor leading at RM30.1 billion – 67 per cent of which came from foreign sources, mainly Singapore, the US, and China. The research house remains constructive on the sector's 2H25 outlook, supported by lower rates, resilient industrial demand, and ongoing infrastructure progress from Penang to Johor that is expected to further boost TOD opportunities.
The Star
04-07-2025
- Business
- The Star
M'sian developers bag nine global awards in Lagos
Projects recognised for innovation, sustainability and community impact MALAYSIAN developers achieved significant recognition at the 33rd FIABCI World Prix d'Excellence Awards in Lagos, Nigeria, securing nine accolades – five gold and four silver. These awards celebrate excellence in real estate development, recognising projects that prioritise innovation, sustainability and community impact. This year, Malaysian developers were honoured across various project categories, including affordable housing, office spaces, industrial parks and environmentally focused developments. FIABCI World president Ramon Riera Torroba commended the winners, stating that the awards celebrated developments that went beyond beauty and function. 'These are projects that embody innovation, sustainability and community impact – developments that give back to the environment and society in meaningful and lasting ways,' he said. FIABCI Prix d'Excellence committee president Laszlo Gonczi emphasised the awards' global reach, noting the rise of national competitions inspired by earlier efforts in Brazil, Malaysia and Singapore. 'This is more than a contest. It's a global forum where quality outweighs size and where David can truly defeat Goliath,' he said. He added that developers from countries without national competitions were encouraged to enter directly, many of whom later became the catalyst for the formation of local chapters. The Prix Secretariat secretary Dr Yu Kee Su, praised this year's entries for setting new industry benchmarks. 'Let us reaffirm our shared mission to shape spaces that are not only functional and beautiful, but also sustainable and future-ready,' he said. 'The integration of green building practices and smart technologies has never been more critical, and your work exemplifies the transformative power of these principles.' One of Malaysia's celebrated developers, SP Setia Bhd, stood out with two accolades at this year's ceremony. The group received a Gold Award for Sapphire by The Gardens in Melbourne, Australia (a residential high-rise) and a Silver Award for Amantara at Setia Eco Templer (residential low-rise). 'Let us reaffirm our shared mission to shape spaces that are not only functional and beautiful, but also sustainable and future-ready.' - Dr Yu Kee Su SP Setia president and chief executive officer Datuk Choong Kai Wai, who attended the gala and received the awards, expressed his gratitude. 'We are incredibly honoured to receive this recognition for both of our flagship developments and to be benchmarked by global industry standards. 'Both wins are a testament to our hard work towards creating sustainable communities,' he said. With this achievement, SP Setia now holds the world record for the most FIABCI World Gold Prix d'Excellence Awards – a total of 19 wins, further cementing its position as a leader in global property excellence. At the FIABCI elections for world vice-president (2025–2026), Yu was appointed for the role during the 75th FIABCI World Real Estate Congress in Lagos. 'I am deeply honoured and sincerely grateful for your trust and support,' said Yu, after two rounds of online voting via the FIABCI App. 'This recognition makes my 25-year journey in FIABCI, serving in various roles, all the more meaningful. 'The path was never easy, but your belief in me has made the journey worthwhile,' he said. This appointment comes as FIABCI-Malaysia prepares to celebrate its 50th anniversary – a golden jubilee, to be marked by an event on Oct 9, at One World Hotel, Bandar Utama, Selangor. The celebration will highlight five decades of dedication to promoting real estate professionalism, elevating Malaysian developers onto the world stage and fostering strong international ties. The event will also honour Datuk Alan Tong, a past world president (2005–2006), who turns 90 in September, as well as remember the late Michael Geh Thuan Peng and Yeow Thit Sang, two past presidents, whose legacies continue to inspire the FIABCI community in Malaysia and beyond. Yu also extended his thanks to Malaysian delegates who travelled to Lagos to attend the congress. 'Your dedication and sacrifice, overcoming distance, logistical challenges and personal commitments truly reflect the spirit of our Malaysian chapter,' he said. Malaysia's World Gold Winners Affordable Housing: I-Santorini by Ideal Property Group Environmental: Iringan Bayu Wetland Park by OSK Holdings Bhd Industrial: Nouvelle Industrial Park@Kota Puteri by EXSIM Development Sdn Bhd Office: TSLAW Tower by Pedoman Cekap Sdn Bhd Residential Low-Rise: The Light Collection IV by IJM Land Bhd Malaysia's World Silver Winners Hotel: Hyatt Centric Kota Kinabalu by Hap Seng Land Sdn Bhd Office: Sentul Works by YTL Land & Development Bhd Residential High-Rise: SkyLuxe on the Park Residences by SkyWorld Development Bhd Residential Low-Rise: Setia Eco Templer – Amantara by S P Setia Bhd
