S P Setia, Mitsui Fudosan to develop residential project of GDV RM1.3b in Semenyih

• Setia MF EcoHill Sdn Bhd, will develop a 113-acre parcel comprising 683 homes, including bungalows, semi-detached, and cluster houses. The project will be launched in phases, with the first phase expected in 2026.

PETALING JAYA (Oct 8): S P Setia Bhd’s wholly owned subsidiary, Setia EcoHill Sdn Bhd, has entered into a joint venture with property investment company Mitsui Fudosan (Asia) Malaysia Sdn Bhd to develop a residential project with a GDV of RM1.3 billion in its flagship township of Setia EcoHill, Semenyih.

According to its exchange filing, the joint venture company, Setia MF EcoHill Sdn Bhd, will develop a 113-acre parcel comprising 683 homes, including bungalows, semi-detached, and cluster houses. The project will be launched in phases, with the first phase expected in 2026.

S P Setia president and CEO Datuk Zaini Yusoff said they are pleased to announce the company’s pivotal collaboration with Mitsui Fudosan for the upcoming development.

“We are confident that this partnership will boost Setia EcoHill’s overall profile and marketability to local owner-occupiers and investors,” he said.

“Following our first collaboration with Mitsui Fudosan in Setia Federal Hill in December 2023, we look forward to deepening and strengthening our relationship with them in the long term,” he said.

He also added that S P Setia remains focused on accelerating developments within the Semenyih and Bangi corridor, in line with the group’s strategic landbank management objectives.

Mitsui Fudosan (Asia) Malaysia Sdn Bhd managing director Masayoshi Saito said they are honoured to continue the partnership with S P Setia on their very first landed housing project in Malaysia, a significant milestone for Mitsui Fudosan.

“By leveraging our combined expertise, we aim to deliver quality homes that contribute to a sustainable and thriving community in Setia EcoHill,” he said.

Founded in 1673, Mitsui Fudosan is Japan’s leading real estate developer. It is listed on the Tokyo Stock Exchange and known for iconic projects such as Tokyo Disneyland and the Kasumigaseki Building, Japan's first skyscraper.

Setia EcoHill is a 673-acre freehold, master-planned township with a gross development value (GDV) of RM5 billion. Since its 2013 launch, it has evolved into a self-sustained community featuring an international school, Club 360, and commercial hubs like EcoHill Taipan and Setia EcoHill Walk.

The township is well-connected via major highways such as the PLUS, SILK, LEKAS, and SKVE, positioning it as a prime hotspot in the Semenyih–Bangi corridor.

As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.