SP Setia, Tradewinds in KL renewal project

“We believe the outlook for SP Setia remains stable premised on its strong unbilled sales of RM10.95bil and overseas contribution beginning 2020,” AmInvestment said in a note.

PETALING JAYA: SP Setia Bhd, Tradewinds Corp Bhd and Dewan Bandaraya Kuala Lumpur (DBKL) have signed a public-private partnership to demolish and rebuild thousands of units of old public housing in exchange for 52.25 acres of leasehold land in Cheras, Kuala Lumpur.

A special-purpose vehicle, Retro Highland Sdn Bhd, with equal stakes held by the two private developers, will be involved in the “renewal” project, which involves planning, designing, constructing, completing and commissioning 3,971 residential units, 112 shops/stalls, a market and other public facilities, a Bursa Malaysia filing said.