Mitsui Fudosan Decides to Participate in Apartment Development Project with 2 Buildings (Total of 1,360 Units) in the Setia Federal Hill Project, a Large-Scale, Mixed-Use Development
in Kuala Lumpur, Malaysia

December 13, 2023
Mitsui Fudosan Co., Ltd.

Key Points of the Project

  • Decision made to participate in a first-stage apartment development project with 2 buildings (hereinafter the “Property”) in the Setia Federal Hill Development Plan (total site area of approximately 210,000 m2)
  • A large-scale, mixed-use development project in the Bangsar district of Kuala Lumpur
  • Project partner is S P Setia Berhad, a major Malaysian developer

Tokyo, Japan, 13 12, 2023 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has decided to take part through Mitsui Fudosan (Asia) Malaysia Sdn. Bhd. (Location: Kuala Lumpur) in a first-stage apartment development project with 2 buildings in Setia Federal Hill (hereinafter “SFH”), a large-scale, mixed-use development in the Bangsar district of Kuala Lumpur, Malaysia. The addition of the Property brings the total number of Mitsui Fudosan’s housing projects in Malaysia to 5. Combined with retail facility, rental housing, and logistics projects, Mitsui Fudosan will have a total of 9 projects in the country.

The Property is a first-stage apartment development project with 2 buildings in SFH, a large-scale, mixed-use development project that will undertake integrated development of various facilities, including apartment units, as well as office buildings and retail facilities. Tower 1 will consist of 687 apartment units on 63 floors, while Tower 2 will consist of 673 apartment units on 62 floors, for a total of 1,360 apartment units.

The development is expected to attract a wide range of owner-occupant homebuyers in Malaysia, such as families, singles, and DINKs households, as it will be highly convenient for daily life, with plans to open a retail facility within SFH in the near future. Furthermore, SFH will ensure that a specific proportion of the site area is green and is expected to acquire GreenRe Gold*, which is an environmental performance certification adopted in Malaysia, through the installation of highly energy-efficient elevators and charging stations for electric vehicles (EVs).

Mitsui Fudosan will integrate its product planning and business development capabilities with those of its project partner S P Setia Berhad (Location: Selangor, hereinafter “SP Setia”), a major developer in Malaysia, and will move ahead with the apartment development project to capture solid housing demand in Malaysia.

⁎ GreenRe is an environmental performance certification in Malaysia. Buildings are rated through environmental performance assessments based on 6 indicators, specifically energy efficiency, water resources, environmental protection, indoor environment, greenery, and CO2 emission reduction.

Image of Setia Federal Hil

Image of Tower1・Tower2

[ Location ]

The Property is located in the Bangsar district, an upscale residential neighborhood in Kuala Lumpur. It is 6 minutes’ walk from Bangsar Station and 9 minutes’ walk from Kuala Lumpur Sentral Station (KL Sentral), a terminal station with a total of 8 lines accessible for use. In addition, the Property is highly convenient for daily life, since it is only a 5-minute drive from Mid Valley Megamall, one of Kuala Lumpur’s largest retail facilities, and The Gardens Mall, which adjoins Mid Valley Megamall on the west side.

[ About S P Setia Berhad ]

S P Setia Berhad is a publicly listed Malaysian company founded in 1974. S P Setia is engaged in integrated projects encompassing planning, development, and management of large-scale, mixed-use facilities, housing (apartments and detached homes), office buildings, and retail facilities. It conducts business in Malaysia, as well as Singapore, Vietnam, Australia, the United Kingdom, and China. This is the first project in which Mitsui Fudosan has conducted business with S P Setia.

[ Mitsui Fudosan’s Overseas Business ]

One of the aspirations of VISION 2025, the Mitsui Fudosan Group’s long-term management policy, is “to evolve into a global company.” Accordingly, the Group will continue to seek robust growth in the overseas business. Mitsui Fudosan has been conducting business in Western countries (the US and UK), as well as in cities in China, Taiwan, Southeast Asia, Australia, and India. In Malaysia, the Group conducts the condominium housing, rental housing, logistics facility and retail facility businesses and will continue to pursue business expansion.

[ Property Overview (Planned) ]

Location Setia Federal Hill, Kuala Lumpur, Malaysia
Access 6 minutes on foot from Bangsar Station and 9 minutes on foot from KL Sentral Station on the LRT Kelana Jaya Line
Site area Total approx. 116,250 ft2 (Approx. 10,800 m2) (Tower 1: Approx. 51,667 ft2 (Approx. 4,800 m2), Tower 2: Approx. 64,583 ft2 (Approx. 6,000 m2)
Total floor area Total approx. 1,405,000 ft2 (Approx. 130,500 m2) (Tower 1: Approx. 717,953 ft2 (Approx. 66,700 m2), Tower 2: Approx. 686,737 ft2 (Approx. 63,800 m2))
Scale Tower 1: 63 floors above ground, 3 floors below ground
Tower 2: 62 floors above ground, 3 floors below ground
Structure Steel reinforced concrete construction
Units Total 1,360 units (Tower 1: 687 units, Tower 2: 673 units)
Project partner S P Setia Berhad
Schedule(Planned) Commencement of construction in June 2024
Construction to be completed in 2029

[ Wide-area view ]

[ Close-up view ]

■ Mitsui Fudosan Group’s Contribution to SDGs
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs. Additionally, the Group formulated the following Group guidelines related to “Realize a Decarbonized Society” and “Diversity & Inclusion Promotion” in November 2021, and “Biodiversity” in March 2023. The Mitsui Fudosan Group will continue to work toward solving social issues through neighborhood creation.

[ References ]
・Group Action Plan to Realize a Decarbonized Society
・Formulated Diversity and Inclusion Promotion Declaration and Initiatives Policy
・Mitsui Fudosan Group Biodiversity Policy

* The initiatives covered in this press release are contributing to two of the UN’s SDGs.

Goal 11 Sustainable Cities and Communities
Goal 17 Partnerships For The Goals