Semenyih: S P Setia Bhd’s wholly-owned subsidiary, Setia EcoHill Sdn Bhd, has formed a joint venture with Mitsui Fudosan (Asia) Malaysia Sdn Bhd to develop a substantial 45.73-hectare residential project. The development is set to take place in Semenyih at the flagship township, Setia EcoHill.

According to BERNAMA News Agency, the joint venture will be managed by the newly formed company, Setia MF EcoHill Sdn Bhd. This project will feature 683 residential units, including bungalows, semi-detached, and cluster houses, with an estimated gross development value of RM1.3 billion. The residential units are planned to be launched in multiple phases, beginning in 2026.

Setia’s president and chief executive officer, Datuk Zaini Yusoff, expressed confidence that the partnership will enhance Setia EcoHill’s market appeal to both local owner-occupiers and investors. He emphasized the importance of the collaboration, noting the potential for a long-term relationship with Mitsui Fudosan following their initial partnership at Setia Federal Hill in December 2023.