SP Setia eyes collaboration with Penang government for sustainable industrial hub in Setia Fontaines
SP Setia Bhd, a leading pioneer in property development in Malaysia, has expressed its interest in collaborating with the Penang government to drive sustainability initiatives while seeking support for the implementation of its proposed industrial-based business park in Setia Fontaines on the mainland.
The company is currently in the process of converting 310 acres out of the 1,691-acre Setia Fontaines development for industrial use and is exploring a potential joint venture to advance this project.
SP Setia chief executive officer Datuk Choong Kai Wai, during a courtesy call with Chief Minister Chow Kon Yeow, highlighted that the proposed development seeks to balance the needs of industry while promoting a sustainable future for Penang.
“Setia Fontaines, located in Kepala Batas, is designed to enhance Penang’s urban landscape and boost its economic potential.
“This world-class development reflects a shared vision to raise living standards and create business opportunities in Penang, further cementing the state’s status as a progressive and dynamic hub,” Choong stated during the meeting at Komtar today.
Chow urged SP Setia to expedite its efforts to secure approval from the Seberang Perai City Council (MBSP) to ensure the proposed project is included in the 2030 Seberang Perai Local Plan (DRTSP2030) draft, which is expected to be gazetted next year.
Source: Buletin Mutiara
