KUALA LUMPUR, Oct 8 — SP Setia Bhd (KL:SPSETIA) has entered into a joint venture with Japan’s Mitsui Fudosan for a RM1.3 billion landed residential development within the Setia EcoHill township in Semenyih.

According to SP Setia, the project will feature 683 landed homes, including bungalows, semi-detached, and cluster houses, and will be launched in phases beginning 2026.

“We are confident that this partnership will further strengthen Setia EcoHill’s appeal among local homebuyers and investors,” said Datuk Zaini Yusoff, president and chief executive officer of SP Setia.

The collaboration will take place under Setia MF EcoHill Sdn Bhd, a new joint venture company between Setia EcoHill Sdn Bhd, a wholly owned subsidiary of SP Setia, and Mitsui Fudosan (Asia) Malaysia Sdn Bhd. Details of the shareholding structure were not disclosed.

This marks Mitsui Fudosan’s first landed housing project in Malaysia, following its earlier partnership with SP Setia on the Setia Federal Hill project announced in December 2023.

“By combining our expertise, we aim to deliver homes that promote sustainability and a vibrant community within Setia EcoHill,” said Masayoshi Saito, managing director of Mitsui Fudosan (Asia) Malaysia.

Launched in 2013, Setia EcoHill spans 673 acres with a total gross development value (GDV) of RM5 billion, comprising a mix of residential and commercial components.

On Wednesday, SP Setia’s shares slipped 4% to 93 sen at the noon trading break, valuing the developer at RM4.65 billion in market capitalisation.

FAQ: SP Setia and Mitsui Fudosan Joint Venture in Semenyih

1. What is the new SP Setia and Mitsui Fudosan project about?
It is a landed residential project worth RM1.3 billion in GDV, featuring bungalows, semi-detached, and cluster homes in the Setia EcoHill township, Semenyih.

2. When will the project be launched?
The first phase is targeted for launch in 2026 and will be rolled out in multiple phases.

3. Who are the partners in this joint venture?
The development is a collaboration between SP Setia Bhd and Mitsui Fudosan (Asia) Malaysia Sdn Bhd, through a joint venture entity named Setia MF EcoHill Sdn Bhd.

4. Has SP Setia worked with Mitsui Fudosan before?
Yes. Both companies previously collaborated on the Setia Federal Hill project announced in December 2023, marking their first partnership in Malaysia.

5. Why is this partnership significant?
This venture represents Mitsui Fudosan’s first landed housing development in Malaysia, signalling confidence in the local property market and strengthening SP Setia’s international collaboration portfolio.

6. Where is Setia EcoHill located?
Setia EcoHill is located in Semenyih, Selangor, and is part of a 673-acre integrated township launched in 2013 with a total GDV of RM5 billion.

7. How is SP Setia performing on the market?
As of Oct 8, SP Setia’s share price stood at 93 sen, giving the company a market capitalisation of RM4.65 billion.

MyRumahBaru Insight

Semenyih continues to evolve as one of the Klang Valley’s fastest-growing suburban corridors, driven by improved connectivity and affordable landed options. This collaboration between SP Setia and Mitsui Fudosan underlines foreign investors’ confidence in Malaysia’s landed housing market, particularly within established eco-townships.

For homebuyers, this upcoming project could offer premium landed homes within a self-sustaining township, aligning with growing demand for larger spaces and green surroundings post-pandemic.

You can explore similar landed developments and upcoming Semenyih projects at [MyRumahBaru.com] — Malaysia’s all-in-one platform for discovering new properties, comparing layouts, and connecting directly with developers.