KUALA LUMPUR (June 21): S P Setia Bhd (KL:SPSETIA) has broken ground on its 509-acre Setia Fontaines Industrial Park in Bertam, Kepala Batas in Penang, marking its expansion into the industrial sector in the northern region.
In a press statement on June 20, the newly launched industrial park is part of the larger 1,691-acre freehold Setia Fontaines township, offering light industrial, medium industrial and commercial lots.
The event also featured the exchange of a memorandum of collaboration (MOC) between Setia Fontaines and the Northern Corridor Implementation Authority (NCIA) to explore the supply of green energy to the industrial park.
The groundbreaking ceremony was graced by Prime Minister Datuk Seri Anwar Ibrahim and Penang Chief Minister Chow Kon Yeow.
S P Setia president and chief executive officer Datuk Zaini Yusoff said: “The groundbreaking of Setia Fontaines Industrial Park is a landmark moment for S P Setia and a strong signal of our confidence in Penang's future.”
NCIA chief executive Datuk Mohamad Haris Kader Sultan said: “Our collaboration with S P Setia positions Setia Fontaines Industrial Park as an anchor green consumer, strengthening demand certainty and project viability.”
The location connects directly to the North-South Expressway, providing logistical access to Penang Island, Bukit Mertajam, Seberang Jaya and Kulim.
Additionally, the developer exchanged a memorandum of agreement (MOA) with Lembaga Perumahan Negeri Pulau Pinang (LPNPP) for Pangsapuri Pinang Setia, a project comprising 640 affordable homes targeted for completion in 2029.
Each 650-sq-ft unit under the residential project will have three bedrooms and two bathrooms, with a fixed price of RM42,000.
Residents will benefit from the wider Setia Fontaines lifestyle ecosystem, including 37 acres of central parks and 63 acres of manmade lakes.
The affordable homes will also enjoy proximity to educational institutions such as Pusat Kanser Tun Abdullah Ahmad Badawi Universiti Sains Malaysia, Universiti Teknologi Mara, Maktab Rendah Sains Mara, and Kolej Matrikulasi Penang.