KEPALA BATAS, Penang: SP Setia Bhd today marked another significant milestone when it commenced the development of Setia Fontaines Industrial Park in Bertam through a ground-breaking ceremony, marking an achievement in the group’s growth strategy and strengthening Penang’s position as a future-ready investment destination.
SP Setia’s President and Chief Executive Officer, Datuk Zaini Yusoff, said the 509-acre industrial park is part of the 1,691-acre Setia Fontaines development, offering light industrial, medium industrial and commercial lots for a variety of businesses, from small and medium enterprises (SMEs) to multinational companies.
He said its strategic location provides strong connectivity to Penang, Bukit Mertajam, Seberang Jaya and Kulim, with direct access to the North-South Expressway.
“More than just an industrial development, Setia Fontaines Industrial Park embodies the group’s vision to develop a next-generation economic hub with world-class infrastructure for advanced manufacturing, digital infrastructure and high-tech industries in the Northern Region.
“This development also reflects SP Setia’s ability to translate national aspirations into tangible results,” he said at the ceremony which was officiated by Prime Minister Datuk Seri Anwar Ibrahim and also attended by Chief Minister Chow Kon Yeow.
Zaini said that in line with the aspirations of the MADANI Economy, Setia Fontaines Industrial Park is designed to support innovation-led growth, strengthen industry competitiveness and broaden economic participation along the value chain.
“From SMEs to multinationals, this development opens up opportunities for businesses to grow in a sustainable ecosystem that is future-proof, thus reaffirming SP Setia’s commitment to driving high-value and inclusive progress,” he added.
Earlier, the ceremony also witnessed the exchange of a memorandum of cooperation (MoC) between Setia Fontaines and the Northern Corridor Implementation Authority (NCIA) represented by its Chief Executive, Datuk Mohamad Haris Kader Sultan.
The MoC is to explore providing access to green electricity at Setia Fontaines Industrial Park, thus strengthening its appeal as a sustainability-led destination for businesses and investors.
Through the MoC, Zaini said, Setia Fontaines and NCIA would explore initiatives such as the Corporate Renewable Energy Supply Scheme (CRESS) to provide access to green electricity for Setia Fontaines Industrial Park and its occupants through the national grid, sourced from regional renewable energy developers.
He said this collaboration highlights the value of public-private partnerships in advancing sustainable industrial development, supporting Malaysia’s low-carbon aspirations as well as enhancing Penang’s attractiveness to high net-worth investors.
“The demand for industrial development is increasingly driven by the sustainability needs of tenants. This collaboration reflects SP Setia’s commitment to integrating sustainability elements into our industrial strategy, while enhancing long-term competitiveness and value creation,” he said.
Meanwhile, Haris said the Special Renewable Energy Economic Zone (SREEZ) under the Northern Corridor Economic Region (NCER) is designed as a demand-driven ecosystem that integrates renewable energy supply with industrial demand to support bankable green investments.
“Our collaboration with SP Setia positions Setia Fontaines Industrial Park as a major user of green energy, thus strengthening demand certainty and project viability.
“This initiative enhances the attractiveness of NCER as a hub for sustainable industrial growth and supports the influx of investments that require low-carbon energy,” he said.
In addition, there was an exchange of memorandum of agreement (MoA) between Setia Fontaines Sdn Bhd and the Penang State Housing Board (LPNPP) represented by Chief Executive Officer, Khairulnizam Hashim, for the development of the Setia Penang Apartment Project which includes 640 affordable housing units, with a target completion date of 2029.
The project offers units measuring 650 square feet with three bedrooms and two bathrooms, at a selling price of RM42,000 per unit. The apartments are part of the Setia Fontaines integrated development component which is expected to reach a population of approximately 30,000 by 2041. – BERNAMA
