(From left) S P Setia Bhd senior independent director Setia Australia chairman Datuk Khairil Anwar Ahmad, High Commissioner of Malaysia to Australia Datin Paduka Sharrina Abdullah, Minister for Planning Sonya Kilkenny, S P Setia chairman Tan Sri Syed Zainol Anwar Jamalullail, president and CEO Datuk Zaini Yusoff, Setia Melbourne general manager See Hunt Soon, Consul-General of Malaysia in Melbourne Nik Muhammad Nasyron Syah Nik Daud and Multiplex regional managing director Ross Snowball at the Atlas Melbourne groundbreaking ceremony. (Photo by S P Setia)
KUALA LUMPUR (Sept 17): S P Setia Bhd (KL:SPSETIA) marked the groundbreaking of Atlas Melbourne, a 73-storey residential development at 383 La Trobe Street in Melbourne’s central business district, on Thursday.
According to a press statement issued on Thursday, the ceremony was attended by Victorian Minister for Planning Sonya Kilkenny MP as guest of honour, alongside S P Setia chairman Tan Sri Syed Anwar Jamalullail.
The group also announced the appointment of Multiplex as the builder for the project, which carries an estimated gross development value of A$940 million (RM2.6 billion). Since its launch in October 2024, the development has achieved sales of 64% of its 858 residences.
Speaking at the event, Syed Anwar said the project reflects S P Setia’s long-term commitment to Australia and supports its strategy to strengthen its international footprint in key gateway cities.
"Today’s milestone reflects Setia’s disciplined international growth and our commitment to developing quality, well-connected urban communities. Atlas builds on our established Melbourne portfolio and supports the city’s housing supply at a time when demand for inner-city residences remains resilient," he said.
He added that Multiplex’s appointment brings proven experience, noting the builder previously delivered S P Setia's Sapphire by the Gardens project in Melbourne on time and within budget.
Located near RMIT University, the University of Melbourne, Melbourne Central, and Flagstaff Gardens, the development will feature resident amenities including the Sky Club on Level 72, the Horizon Collective, and a wellness club.
Construction is expected to span 52 months, with initial residential handovers targeted for September 2029 and final handover scheduled for December 2030.
Beyond Atlas, S P Setia’s Australian pipeline includes master planning for three towers on a 6,500 sq m site at the former Carlton United Brewery precinct, as well as an apartment project in St Leonards, Sydney.