Setia Eco Forest Penang – SP Setia Next Mega Project

Malaysia’s leading property developer SP Setia is reportedly having a big plan in Tanjung Bungah, Penang after recent land acquisition from that part of the island.

SP Setia has 35 acres of land in Tanjung Bungah and many more in the Penang island is planning to launch about RM2.5bil worth of properties on the island this year and in 2013.

In the North-East district of the island, SP Setia’s plan is to launch a RM1.1bil mixed-development project in Tanjung Bungah.

The project named Setia Eco Forest will be a high-end project comprises landed property and luxury condominium.

According to company’s general manager for the northern region’s property division Khoo Teck Chong, the development will have a similar green concept as its current project at Setia Green which embraces distinctive eco-living.

Based on the strategic location at Tanjung Bungah, with its near proximity to Tenby International School, the upcoming thousand units of condominium and landed houses will be priced around RM600 – RM700 psf with selling price starting from RM700k and above.

View Setia Eco Forest, Tanjung Bungah, Penang in a larger map

Under this project, SP Setia will also be responsible to build a connecting road to the north of the project connecting to Jalan Chan Siew Teong.

While there seems to be already many projects on hand, SP Setia had also recently acquired two pieces of land in Balik Pulau for RM38mil, where the group planned to develop both landed and high-rise properties.

From the effort and the scale of upcoming projects, SP Setia being the top developer in Malaysia who was recently awarded The Edge Malaysia Top Property Developers Awards (TPDA) 2012 for the seventh time is pretty determined in holding on to that title for many years to come.

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