MELBOURNE: SP Setia Bhd (Setia) has recently held the groundbreaking ceremony for Atlas Melbourne, a 73-storey residential development at 383 La Trobe Street in Melbourne’s central business district. The group also announced Multiplex as the project’s builder, marking the start of major construction works and reinforcing Setia’s approach to scaling its international portfolio.

The event was attended by the Victorian planning minister Sonya Kilkenny and SP Setia chairman Tan Sri Syed Anwar Jamalullail who delivered the group’s address at the ceremony.

Also present at the groundbreaking were SP Setia senior independent director and Setia Australia chairman Datuk Khairil Anwar Ahmad, president and chief executive officer Datuk Zaini Yusoff, Setia Melbourne general manager See Hunt Soon, Malaysia to Australia high commissioner Datin Paduka Sharrina Abdullah, Melbourne consul-general of Malaysia Nasyron Syah and Multiplex regional managing director Ross Snowball.

Since its launch in October 2024, Atlas has sold 64% of its 858 residences, with an estimated gross development value of approximately RM2.6bil.

“Today’s milestone reflects Setia’s disciplined international growth and our commitment to developing quality, well-connected urban communities. Atlas builds on our established Melbourne portfolio and supports the city’s housing supply at a time when demand for inner-city residences remains resilient,” said Syed.

“The appointment of Multiplex brings proven experience in delivering complex high-rise residential projects in Australia. Having previously delivered Setia’s Sapphire by the Gardens development in Melbourne on time and within budget, Multiplex is well placed to support the delivery of Atlas in line with our quality and execution standards,” he added. 

“We are proud to partner with  Setia on Atlas Melbourne and to bring our proven high-rise delivery experience to a project that will contribute to Melbourne’s evolving CBD skyline. Having worked with Setia on Sapphire by the Gardens, we look forward to supporting the delivery of Atlas to the highest standards of quality, safety and execution,” added Multiplex managing director Ross Snowball.

Construction will take 52 months, with the first residential handovers planned for September 2029, followed by stages through 2030 and final handover expected by December 2030.

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