From left: Datuk Zaini Yusoff, Chief Operating Officer of S P Setia; Datuk Choong Kai Wai, President and Chief Executive Officer; Masayoshi Saito, Managing Director of Mitsui Fudosan (Asia) Malaysia; and Aritaka Yamagata, Deputy General Manager
KUALA LUMPUR: SP Setia Bhd
has partnered Mitsui Fudosan (Asia) Malaysia Sdn Bhd to develop two parcels of prime commercial land measuring 2.67 acres in Setia Federal Hill, Bangsar.
In a statement, the property developer said the joint venture represents a significant opportunity for it to expand its presence and establish a strong foothold in the Bangsar district.
The project will have an estimated gross development value of RM1.4bil and will comprise two residential towers of about 1,300 units.
The first tower of the project is slated for launch next year.
"The collaboration will not only bolster the project's profile but also provide an exceptional opportunity for Setia to market to international clients.
"With their combined expertise and proven track records, the joint venture is poised to unlock the full potential of the development and redefine the skyline of Setia Federal Hill,” said SP Setia president and CEO Datuk Choong Kai Wai.
