The award-winning developer is exploring opportunities to strengthen its footprint across high-growth segments
SP Setia Bhd (Setia), one of the leading property developers in Malaysia, is getting ready for more anticipated launches in December 2025 and in the coming financial year.
This month, the group is set to launch its upcoming premium phase, Casa D’Arcadia in its Setia AlamImpian township in Shah Alam, which has a gross development value (GDV) of approximately RM121.5mil. Casa D’Arcadia is a low-density enclave comprising 172 premium homes made up of 118 semi-detached houses and 54 villas, with built-up areas of 4,280 sq ft to 4,393 sq ft and 3,345 sq ft to 3,347 sq ft respectively.
Setia president and chief executive officer Datuk Zaini Yusoff shared: “Our vision remains to create sustainable communities and enrich lifestyles, as we continue to inculcate this across all our growing townships for the upcoming year.”
“Our focus remains on our bread-and-butter residential products during the year, depending on market demand and overall sentiment,” he added.
Upcoming projects and partnerships
Meanwhile, Setia recently formed a joint-venture with Mitsui Fudosan (Asia) Malaysia Sdn Bhd in October 2025, creating Setia MF EcoHill Sdn Bhd to develop a 113-acre residential project at Setia EcoHill, Semenyih, featuring 683 units of bungalows, semi-detached and cluster homes.
With an estimated GDV of RM1.3bil, the project is set for its maiden launch in 2026, combining both Japanese and Setia’s design expertise in delivering sustainable homes.
Other upcoming projects in the coming financial year include Parkside Residence at Setia Federal Hill in Bangsar, Phase 22A in Setia Eco Park and Setia SkyVille in Penang. Setia also has plans to launch Precinct 7 in Setia Fontaines, Penang.
On the international front, the Setia Edenia in the township of EcoXuan in Ho Chi Minh City, Vietnam, which has a GDV of US$81mil (RM381.1mil) held its groundbreaking ceremony in July 2025 and is targeted for completion in 2027. The development is poised to emerge as a key landmark in the northern corridor of Ho Chi Minh City.
“We are also exploring industrial opportunities in Vietnam. We are in discussions with our JV partner there, Becamex IDC Corp, which is one of Vietnam’s leading industrial players. It is currently our partner for residential projects as well,” revealed Zaini.
Venturing into REITs and long-term strategy
The group maintains that its long-term strategy is to be an integrated real estate player in moving towards an asset-light model.
Zaini remarked: “We intend to set up Setia REIT as a stable recurring income vehicle and to develop our industrial footprint in Setia Alaman in Shah Alam, Setia Fontaines in Penang and Johor (with a total GDV of approximately RM15bil)."
“We are laying the foundation for our foray into REIT. We have started our pre-IPO (initial public offering) preparatory works to explore the establishment of a REIT that will have a diverse asset portfolio across its key strategic locations in Malaysia,” he said. He added that industrial products will be our main pipeline for our REIT which will generate recurring income for Setia.
Setia plans to accelerate its catalytic township developments, eco-industrial parks, strategic partnerships and capitalise on value creation across its key growth corridors.
Celebrating its 50th anniversary in 2024, the developer has cemented its presence in Malaysia’s key economic centres, namely the Klang Valley, Johor Bahru and Penang. Moreover, the group has expanded its international footprint, with notable projects in Vietnam, Australia and the United Kingdom.
As of 30 September 2025, the group boasts a portfolio of 42 ongoing projects, supported by a land bank of approximately 4,760 acres valued at a GDV of approximately RM110bil. Furthermore, Setia’s total unbilled sales stand at approximately RM4.2bil, which is 19% higher than last year, signalling strong market demand, particularly in the domestic market.
Addressing market challenges and performances
The award-winning developer continues to showcase its resilience, strategic foresight and operational excellence in FY2025. For the last nine months of this year, sales totalled RM3.49bil for FY2025 compared to RM3.20bil in the same corresponding period of last year.
Domestic projects contributed RM2.91bil, representing approximately 83% of total sales, driven by contributions from Southern and Central regions amounting to RM1.25bil and RM1.62bil respectively.
For Q3 FY2025, the group’s sales rose by 78% at RM1.59bil compared to RM894mil in Q3 FY2024. “Our recent performance in Q3 FY2025 is a testament to our unwavering commitment to delivering quality products and expanding our portfolio,” said Zaini.
He concluded: “We are mindful of market challenges and remain cautiously optimistic as we explore opportunities to strengthen our footprint across our targeted high-growth segments.”
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