Mitsui Fudosan has partnered with SP Setia to develop a MYR1.3bn (€265m) residential project in the Malaysian state of Selangor.
The project aims to build 683 landed homes in the Setia EcoHill masterplan development in Semenyih.
The joint venture with the listed Malaysian firm marks Mitsui Fudosan’s entry into Malaysia’s landed housing market. The Japanese investor is involved in 10 real estate projects, including logistics, rental housing and commercial facility projects in Malaysia.
Masayoshi Saito, managing director of Mitsui Fudosan Asia Malaysia, said: “In collaboration with our joint venture partner SP Setia, Mitsui Fudosan aims to capture solid housing demand in Malaysia by leveraging the combined strengths of both companies’ strengths in product planning and project execution.”
Zaini Yusoff, SP Setia’s president and CEO, said: “We are pleased to announce Setia’s pivotal collaboration with Mitsui Fudosan for our upcoming development in Setia EcoHill, Semenyih. We are confident that this partnership will boost Setia EcoHill’s overall profile and marketability to local owner occupiers and investors.
“Following our first collaboration with Mitsui Fudosan in Setia Federal Hill in December 2023, we look forward to deepening and strengthening our relationship with them in the long-term,” he said.
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