KEPALA BATAS, June 20 (Bernama) — SP Setia Bhd today markedanother significant milestone when it commenced thedevelopment of Setia Fontaines Industrial Park in Bertam through aground-breaking ceremony, marking an achievement in thegroup’s growth strategy and strengthening Penang’s position as afuture-ready investment destination.
SP Setia president and chief executive officer Datuk Zaini Yusoffsaid the 509-acre industrial park is part of the 1,691-acre SetiaFontaines development, offering light industrial, medium industrialand commercial lots for a variety of businesses, from small andmedium enterprises (SMEs) to multinational companies.
He said its strategic location provides strong connectivity toPenang, Bukit Mertajam, Seberang Jaya and Kulim, with directaccess to the North-South Expressway.
“More than just an industrial development, Setia FontainesIndustrial Park embodies the group’s vision to develop a next-generation economic hub with world-class infrastructure foradvanced manufacturing, digital infrastructure and high-techindustries in the Northern Region.
“This development also reflects SP Setia’s ability to translatenational aspirations into tangible results,” he said at the ceremony ceremonywhich was officiated by Prime Minister Datuk Seri Anwar Ibrahimand 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 broadeneconomic participation along the value chain.
“From SMEs to multinationals, this development opens upopportunities for businesses to grow in a sustainable ecosystemthat is future-proof, thus reaffirming SP Setia’s commitment todriving high-value and inclusive progress,” he added.
Earlier, the ceremony also witnessed the exchange of amemorandum of cooperation (MoC) between Setia Fontaines andthe Northern Corridor Implementation Authority (NCIA) representedby its chief executive Datuk Mohamad Haris Kader Sultan.
The MoC is to explore providing access to green electricity at SetiaFontaines Industrial Park, thus strengthening its appeal as asustainability-led destination for businesses and investors.
Through the MoC, Zaini said, Setia Fontaines and NCIA wouldexplore initiatives such as the Corporate Renewable Energy SupplyScheme (CRESS) to provide access to green electricity for SetiaFontaines Industrial Park and its occupants through the nationalgrid, sourced from regional renewable energy developers.
He said this collaboration highlights the value of public-privatepartnerships in advancing sustainable industrial development,supporting Malaysia’s low-carbon aspirations as well as enhancingPenang’s attractiveness to high net-worth investors.
“The demand for industrial development is increasingly driven bythe sustainability needs of tenants. This collaboration reflects SPSetia’s commitment to integrating sustainability elements into ourindustrial strategy, while enhancing long-term competitivenessand value creation,” he said.
Meanwhile, Mohamad Haris said the Special Renewable EnergyEconomic Zone (SREEZ) under the Northern Corridor EconomicRegion (NCER) is designed as a demand-driven ecosystem thatintegrates renewable energy supply with industrial demand tosupport bankable green investments.
“Our collaboration with SP Setia positions Setia Fontaines IndustrialPark as a major user of green energy, thus strengthening demandcertainty and project viability.
“This initiative enhances the attractiveness of NCER as a hub forsustainable industrial growth and supports the influx ofinvestments 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 StateHousing Board (LPNPP) represented by chief executive officerKhairulnizam Hashim for the development of the Setia PenangApartment Project which includes 640 affordable housing units,with a target completion date of 2029.
The project offers units measuring 650 square feet with threebedrooms and two bathrooms, at a selling price of RM42,000 perunit. The apartments are part of the Setia Fontaines integrateddevelopment component which is expected to reach a populationof approximately 30,000 by 2041.