Daily Digest · Monday, 21 September 2026· Updated: 7 days ago
Setia Awan launches RM1.4b industrial park; Sunway Healthcare breaks ground on RM800m Iskandar Puteri hospital
Setia Awan Land Sdn Bhd launched its maiden industrial development in Tanjong Malim with an estimated gross development value (GDV) of RM1.4 billion. Separately, Sunway Healthcare Group broke ground on an RM800 million hospital in Iskandar Puteri, its first in southern Malaysia.
Quick takes
- S P Setia launches 100-acre heritage park: S P Setia Bhd launched the 100-acre Setia Fontaines Heritage Park at its Setia Fontaines township in Kepala Batas, Penang. The developer said the wider township also includes a 63-acre man-made lake and musical fountain.
- Jati Tinggi Group Bhd’s wholly owned subsidiary Jati Tinggi Holding Sdn Bhd secured a RM72.84 million contract to design, supply, install, test and commission a 275kV cable connection at Banting Technology Park, Selangor. Completion is scheduled for Jan 15, 2027.
- MGB Bhd launched StarLight Residences, its first development in Cameron Highlands. The RM129.9 million-GDV project comprises 270 serviced apartments and two retail units on a 0.76ha (1.88-acre) site.
- TSR Capital Bhd’s wholly owned subsidiary TSR Bina Sdn Bhd accepted a letter of award from Perbadanan Kemajuan Negeri Selangor for RM158 million worth of building works in Selangor. The contract is scheduled for completion in the first quarter of 2029. The Bursa Malaysia filing did not identify the project.
Setia Awan launches RM1.4b Tanjong Malim Hi-Tech Park
Setia Awan Land Sdn Bhd launched the 447-acre Tanjong Malim Hi-Tech Park in Perak, its first industrial development, with an estimated GDV of RM1.4 billion. Perak Menteri Besar Datuk Seri Saarani Mohamad officiated at the launch and groundbreaking on Monday (Sept 21).
Located near Proton City within the wider Automotive High-Tech Valley growth corridor, Phase 1 spans 104 acres and offers infrastructure-ready industrial parcels starting from five acres for sale or lease. Setia Awan director Datuk Marcus Doh said Phase 1 had achieved 50% take-up, with Ningbo Fresh Technology Co Ltd and Sheentech Automotive Systems Sdn Bhd among its confirmed investors. Doh said investments by Ningbo and Sheentech could amount to about RM500 million. The project is targeted for completion by the third quarter of 2029, according to reports citing Saarani.
The launch also introduced Ionera, a 168-unit commercial component intended to serve workers and the surrounding community. Setia Awan said it had received more than 100 registrations and bookings and had signed a memorandum of understanding with Billion Group for the retailer to become an anchor tenant.
Why it matters
The project broadens Tanjong Malim’s industrial offering beyond Proton-linked automotive manufacturing. The pace at which confirmed investors translate into operating facilities will indicate whether the Automotive High-Tech Valley can deepen its automotive-component base and attract a wider industrial ecosystem.
Sunway Healthcare breaks ground on RM800m Iskandar Puteri hospital
Sunway Healthcare Group broke ground on Sunway Medical Centre Iskandar Puteri, a planned RM800 million multi-specialty tertiary hospital within Sunway City Iskandar Puteri in Johor. The project is the group’s first hospital in southern Malaysia and is targeted for completion in 2030. It is expected to have more than 400 beds and employ more than 1,400 healthcare professionals.
Planned facilities include more than 45 intensive-care beds, over 130 ambulatory-care beds, more than 80 consultation suites, 10 operating theatres and two catheterisation laboratories. The hospital will also include an integrated Cancer and Nuclear Medicine Centre offering radiotherapy and nuclear-medicine services.
Sunway Healthcare said the hospital is intended to serve Johor’s population as well as patients from Indonesia and Singapore, supported by its proximity to the Johor-Singapore Special Economic Zone and the upcoming Rapid Transit System Link. It is one of three greenfield hospitals planned by the group, alongside projects in Seremban Sentral and Putrajaya.
Why it matters
The project adds substantial private healthcare capacity to Iskandar Puteri as economic and population growth gathers pace around the Johor-Singapore Special Economic Zone and the RTS Link. Its performance will depend on specialist staffing, local demand and the extent to which cross-border patient flows materialise.
Also on the radar today
Paramount completes RM113.5m Bukit Raja land purchase
Paramount Corp Bhd completed its RM113.5 million acquisition of three contiguous leasehold parcels totalling 48.489 acres in Bukit Raja, Selangor. The proposed residential development has an estimated GDV of about RM579 million and is expected to be undertaken over six years.
Mah Sing extends deadline for RM273.87m Kulai land deal
Mah Sing Group Bhd extended the deadline for fulfilling the remaining conditions precedent for its proposed RM273.87 million cash acquisition of 419.17 acres of freehold land in Kulai, Johor, from Sept 20 to Dec 21, 2026. The land is intended for MS Industrial Park @ Kulai, which has an estimated GDV of RM2.26 billion.
KIP REIT flags upgrades at three malls
KIP Real Estate Investment Trust has identified asset-enhancement initiatives at KIPMall Masai, KIPMall Kota Warisan and AEON Mall Kinta City, although it has not disclosed their scope, cost or implementation timetable. It is also targeting completion of its proposed RM435 million acquisition of Setapak Central Mall by the end of the third quarter of 2026.
Today's roundup
Monday’s property news was led by Setia Awan’s maiden industrial development and Sunway Healthcare’s first hospital in southern Malaysia. Elsewhere, S P Setia launched a 100-acre heritage park in Penang, while MGB entered Cameron Highlands with StarLight Residences. Contract awards to Jati Tinggi and TSR Capital pointed to continuing construction activity in Selangor. Paramount completed its Bukit Raja land purchase, Mah Sing extended the deadline for its Kulai industrial land deal, and KIP REIT outlined planned enhancements at three malls.
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