Setia applied AI across sales and construction workflows through collaborations with proptech startups.

S P Setia Berhad received the AI (Real Estate) category award at the Malaysia Technology Excellence Awards 2026 for deploying artificial intelligence across selected property development processes. Delivered under the Bengkel Inovasi GLC (BIG) programme, the initiative focused on improving sales efficiency and strengthening construction quality through automated lead qualification, design document analysis, and site inspection support.

Work commenced with two core objectives: advancing inclusive homeownership through more efficient sales engagement and reducing defects to improve construction quality.  Solutions assessed included AI sales agents and AI-visioning-based inspection solution.

After completing proof-of-concept projects with Setia’s business units, an AI-driven voice and messaging startup was appointed to manage initial customer enquiries, qualify leads,  and direct eligible prospects to the sales team.

For construction, site imagery captured via helmet-mounted cameras was analysed using  AI to flag potential defects, expanding inspection coverage and reducing the time needed to verify issues and generate reports during construction and pre-handover.

Implementation was supported by business unit champions and cross-functional teams spanning digital & innovation, commercial, quality management, and legal. Startup showcases were conducted to strengthen internal awareness and engagement across the organisation.

The work aligns with Setia’s innovation governance through its Tech & Innovation Council,  internal operating framework and partnership with venture builder Antler Ibex. By embedding AI into the workflows, Setia aims to enhance customer experience, strengthen build quality and deliver long-term value in support of its aspiration to build sustainable communities with enriched lifestyles.

Setia remains committed to leveraging technology and data-led innovation to support more sustainable development outcomes, strengthen operational efficiency, and deliver enduring value for the communities it serves.

The Malaysia Technology Excellence Awards, presented by Asian Business Review, recognise technology innovation and digital transformation in Malaysia.

The Malaysia Technology Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2027 awards programme and be acclaimed for your company’s outstanding contributions in pursuit of technological innovation, please contact Danica Avila (+65) 3158 1386 or awards@charltonmediamail.com.

PETALING JAYA: S P Setia Bhd has unveiled Summera Grove, a 15.28-acre terrace housing project in Setia Tropika, Johor Bahru, with non-Bumi units fully taken up within hours of launch.

In a statement, the property developer said the 130 non-Bumi units, with a combined gross development value (GDV) of RM123.3mil, were snapped up within a few hours on March 14, with buyers queueing as early as three days prior.

Summera Grove comprises 203 units with an overall GDV of about RM181.43mil. The double-storey terrace homes are sized from 20’ x 60’ to 20’ x 75’, with built-ups ranging between 1,706 sq ft and 1,894 sq ft, and prices from RM719,355 to RM1.43 mil.

Located in Precinct 13 of Setia Tropika, the development sits within a fully gated and guarded township featuring a central business district (CBD) with retail and food and beverage outlets, major banks and the Tropika Convention Hall.

Setia chief operating officer Datuk Yuslina Mohd Yunus said the strong take-up reflects sustained demand for well-planned homes in established townships.

“The strong response at Summera Grove’s launch, where the 130 non-Bumi units were fully taken up within hours, underscores the sustained demand for well-planned, well-connected neighbourhoods in a mature township.

“As the latest residential offering within Setia Tropika, Summera Grove is designed to provide a calm, low‑density living environment while remaining seamlessly connected to established amenities and a thriving CBD, demonstrating Setia’s disciplined approach to township evolution rather than short‑term development,” Yuslina said.

The development incorporates Setia e-GreenLiving features such as smart home locks, solar panels, EV charging conduits, Industrialised Building Systems (IBS) and Box 366, its contactless delivery solution.

Strategically located, Summera Grove is linked to the North-South Expressway via the Kempas Interchange and is about 3.5km from Kempas Baru ETS station, 12km from Johor Bahru city centre and 18km from Senai International Airport.

Healthcare facilities, including Kempas Medical Centre and KPJ Bandar Dato’ Onn are within a 10km radius, while nearby retail options include Lotus’s Setia Tropika and Johor Premium Outlets.

The launch of Summera Grove drives home S P Setia’s commitment to thoughtfully planned developments that deliver sustainable, high-quality homes accompanied by wide, open spaces and lifestyle amenities, setting a new standard for living in Johor.

KUALA LUMPUR: S P Setia Bhd closed the financial year ended Dec 31, 2025 (FY25) with group sales of RM5.11bil, exceeding its full-year target of RM4.8bil.

The sales figure represents a 2% year-on-year increase from RM5.02bil previously, reflecting steady execution across its development portfolio.

The property developer said domestic developments contributed RM3bil, accounting for 59% of total sales, driven mainly by the Southern and Central regions, which recorded RM900mil and RM2bil respectively.

The group’s international projects contributed RM700mil, or 14% of total sales, underscoring its diversified portfolio and steady delivery across key markets.

In the fourth quarter ended Dec 31, 2025, S P Setia’s net profit more than doubled to RM275.1mil, or earnings per share of 5.50 sen, compared with RM103.6mil, or 2.09 sen, a year earlier.

Revenue rose 53.3% to RM1.63bil from RM1.06bil previously.

For the full year, the property developer posted a net profit of RM509.9mil on revenue of RM4.23bil.

The group has continued to reduce its borrowings and improved its current net-gearing ratio to 0.33x, in alignment with its debt reduction strategies.

President and chief executive officer Datuk Zaini Yusoff said the quarter’s performance reflects Setia’s disciplined execution, resilient operating model and continued focus on delivering quality developments.

“While we remain mindful of prevailing market challenges, the group’s fundamentals remain sound. We are cautiously optimistic as we continue to strengthen our footprint across targeted high- growth segments and continue building sustainable long-term value for our stakeholders,” Zaini said.

Looking ahead, S P Setia expects supportive policy measures, including the extension of stamp duty exemptions and enhanced homeownership incentives under Budget 2026 Malaysia Madani to support market demand.

It added that the reduced overnight policy rate is also expected to improve affordability and overall property market sentiment.

On the international front, Setia Edenia in the township of EcoXuan in Ho Chi Minh City, Vietnam, with a GDV of US$81mil (RM381.1mil) remains on track for completion in 2027.

The development is poised to emerge as a key landmark in the northern corridor of Ho Chi Minh City.

“With these fundamentals in place, the group enters FY26 with a targeted sales ambition of RM4.6bil, reflecting continued execution focus and measured growth expectations to deliver sustainable, long-term shareholder value.”

PETALING JAYA: S P Setia Bhd reported a 78% increase in sales for the third quarter ended Sept 30, 2025 (3Q25), reaching RM1.59bil compared with RM894mil in the same quarter last year.

The improvement was supported by contributions from land transactions, while development sales remained stable quarter-on-quarter as the group continued with its property launches throughout the year.

Revenue stood at RM872mil, with overall performance mainly driven by local developments, although it was lower by 30.7% year-on-year (y-o-y), with net profit also down by 32% to RM68mil.

In a filing to Bursa Malaysia, the group attributed the more subdued 3Q25 y-o-y performance primarily to lower land sale contributions of RM234mil and reduced revenue from Australia projects after substantial handovers in 2024.

For the nine-month (9M25) period, total sales came to RM3.49bil, up from RM3.2bil in the same period a year earlier. Domestic projects accounted for RM2.91bil, or about 83% of total sales, led by contributions from the Southern and Central Regions at RM1.25bil and RM1.48bil, respectively. International projects made up RM577mil, or 17% of sales.

Net profit for 9M25 was halved y-o-y at RM234.9mil, as turnover also fell 38.8% y-o-y to RM2.5bil.

Similarly, S P Setia said the decline was due mainly to major land sale transactions and higher contributions from Australia and Vietnam in the prior year, following substantial handovers of completed projects.

“Revenue from land sales during the current period was almost RM1bil lower than in the previous period,” it added.

Meanwhile, net gearing improved to 0.35 times, reflecting ongoing efforts to pare down debt.

President and chief executive Datuk Zaini Yusoff said the company remained focused on delivering its projects and expanding within targeted growth segments, while maintaining a cautious outlook amid market uncertainties.

He noted that Bank Negara’s decision to cut the Overnight Policy Rate (OPR) by 25 basis points in July 2025 could support property demand by improving affordability and reducing financing costs.

As a whole, the group said it will continue to accelerate its catalytic township developments, eco-industrial parks, strategic partnerships and capitalising on value creation across its key growth corridors.

The company also expects the government’s recent Budget 2026 measures—such as extending stamp duty exemptions to 2027 and enhancing home financing schemes—to provide additional support to the property market.

During the quarter, S P Setia entered into a joint venture with Mitsui Fudosan (Asia) Malaysia Sdn Bhd to develop a 113-acre residential project at Setia EcoHill in Semenyih.

The RM1.3bil gross development value (GDV) project, featuring 683 landed units, is targeted for launch in 2026.

In Vietnam, the Setia Edenia project in the EcoXuan township in Ho Chi Minh City, with a GDV of US$81mil, or RM381.1mil, broke ground in July and is scheduled for completion in 2027.

S P Setia said it remains on track to achieve its full-year sales target of RM4.8bil.

PETALING JAYA: S P Setia Bhd has continued to demonstrate a steady performance as it registered an increase of 34% in sales, hitting RM1.186bil for the second quarter ended June 30, 2025 (2Q25).

In a statement, the property developer said sales for the quarter was higher than the RM833mil registered in the same quarter last year mainly from its domestic projects.

“Sales in the first half of financial year 2025 were mainly contributed by domestic projects at RM1.42bil, representing 75% of total sales, while the group’s international projects contributed RM480mil, about 25% of the total sales,” it said.

The group added central region contributed sales totalling RM955mil while the southern region accounted for RM430mil.

It registered a revenue of RM944mil for the quarter under review, while for the first half of 2025, the group posted a revenue of RM1.71bil and a pre-tax profit of RM337mil.

The Battersea Power Station in the UK also registered a better quarter.

“We have continued to reduce borrowings, with a current net-gearing ratio of 0.34 times, aligning with our debt reduction strategies,” it stated.

The group did not declare any dividends for the quarter under review.

President and chief executive officer Datuk Choong Kai Wai said the quarterly performance reflected its persistence efforts in delivering quality products and diversifying its portfolio, while remaining cognisant of the market challenges.

On July 9, Bank Negara Malaysia, for the first time in five years, cut the overnight policy rate by 25 basis points.

Choong said the rate cut signalled anticipated growth in the property development industry, particularly in the residential segment, by improving buyer affordability, reducing developers’ financing costs and potentially boosting market sentiment amid heightened global uncertainty as well as rising construction costs.

“Amid the current market challenges, our outlook remains cautiously optimistic while we look for opportunities to expand our presence across our targeted high-growth segments,” he noted.

Meanwhile, S P Setia will continue to accelerate its catalytic township developments, eco-industrial parks, strategic partnerships and capitalising on value creation across its key growth corridors.

On its international front, the group held a groundbreaking ceremony for its Setia Garden Residences project at its EcoXuan township in Ho Chi Minh City, Vietnam on July 26.

“With a gross development value (GDV) of US$81mil (RM381.1mil), Setia Garden Residences is scheduled for completion in 2027, and is positioned to become a new landmark in the northern corridor of Ho Chi Minh City,” the group said.

As of June 30, 2025, S P Setia has an unbilled sales pipeline of RM3.9bil, 42 ongoing projects and with a remaining land bank of 5,191 acres, and an effective remaining GDV of RM90.18bil.

Separately, S P Setia said it had signed key collaboration terms with Ally Logistic Property Co Ltd, Taiwan’s largest warehousing infrastructure developer, to develop a build-to-lease warehouse on a 42-acre plot at Setia Alaman in Klang, Selangor.

Located just 5km from Bandar Setia Alam, Setia Alaman Industrial Park forms part of Setia’s eco-industrial site masterplan, which has an estimated GDV of up to RM4bil.

The development will feature two smart warehouses equipped with automated storage and retrieval systems, one for advanced cold chain logistics and the other for high-efficiency ambient storage, providing 1.5 million sq ft in floor area and offering capacity for 150,000 pallet locations, according to S P Setia.

KUALA LUMPUR: S P Setia Bhd has appointed Datuk Zaini Yusoff as its president and chief executive officer, effective from Oct 1, 2025.

In a Bursa Malaysia filing, the property developer said Zaini will succeed Datuk Choong Kai Wai, who will retire from the company on Sept 30.

S P Setia said that Zaini, 60, has been serving as the chief operating officer since July 1, 2023.

“He brings over 37 years of experience in engineering and corporate leadership. His strategic leadership has been pivotal in transforming S P Setia’s operations and delivering complex, large-scale projects,” the company said in a separate statement.

Meanwhile, S P Setia chairman Tan Sri Syed Anwar Jamalullail said Choong has played a vital role in shaping Setia’s journey, and the board holds his enduring contributions in the highest regard.

“The board is confident that Zaini will provide the strategic leadership needed to steer the company forward, strengthening our position as a leading and progressive property developer,” he added. – Bernama