S P Setia Berhad (“Setia” or “the Group”) today broke ground on its 509-acre Setia Fontaines Industrial Park in Bertam, Kepala Batas, marking a major milestone in the Group’s growth strategy and reinforcing Penang’s position as a future-ready investment destination.
The ceremony was graced by Prime Minister Datuk Seri Anwar Ibrahim and Penang Chief Minister Chow Kon Yeow.
Groundbreaking Ceremony for Setia Fontaines Industrial Park
S P Setia broke ground on the 509-acre Setia Fontaines Industrial Park in Bertam, Penang on 20 June 2026. The event was witnessed by Dato’ Seri Utama Anwar Ibrahim, Prime Minister of Malaysia, and Chow Kon Yeow, Chief Minister of Penang.From left: 1. Dato’ Dr Mohamad Abdul Hamid, Deputy Chief Minister I of Penang 2. Chow Kon Yeow, Chief Minister of Penang 3. Dato’ Seri Utama Anwar Ibrahim, Prime Minister of Malaysia 4. Datuk Ir. Khairil Anwar Ahmad, Senior Independent Non-Executive Director, S P Setia Bhd 5. Datuk Zaini Yusoff, President and Chief Executive Officer, S P Setia Bhd.
The event also witnessed the exchange of a Memorandum of Collaboration (MoC) between Setia Fontaines and the Northern Corridor Implementation Authority (NCIA) to explore the supply of green energy to the park, enhancing its appeal as a sustainability-led destination for businesses and investors.
Part of the 1,691-acre freehold Setia Fontaines township, the industrial park offers light industrial, medium industrial and commercial lots catering to a broad range of occupiers, from small and medium enterprises (SMEs) to larger corporations. The development enjoys strong connectivity to Penang Island, Bukit Mertajam, Seberang Jaya and Kulim, with direct access to the North-South Expressway.
Datuk Zaini Yusoff, President and Chief Executive Officer of S P Setia, said, “The groundbreaking of Setia Fontaines Industrial Park is a landmark moment for S P Setia and a strong signal of our confidence in Penang’s future. More than an industrial development, it reflects our vision to build a next-generation economic hub with world-class infrastructure for advanced manufacturing, digital infrastructure and high-technology industries in the Northern Region.
“More importantly, this development reflects Setia’s capacity to translate national aspirations into tangible outcomes on the ground. In advancing the aspirations of Ekonomi MADANI, Setia Fontaines Industrial Park is designed to support innovation-led growth, strengthen industrial competitiveness and create broader economic participation across the value chain. From SMEs to multinational corporations, this development opens up meaningful opportunities for businesses to grow within a sustainable, future-ready ecosystem, underscoring Setia’s commitment to shaping progress that is both high-value and inclusive,” he added.
Ready Supply of Green Electricity
Under the MoC, Setia Fontaines and NCIA will explore a Corporate Renewable Energy Supply Scheme (CRESS), enabling Setia Fontaines Industrial Park and its tenants to access green electricity via the national grid from regional renewable energy developers.
The collaboration highlights the role of public-private partnerships in advancing sustainable industrial development, supporting Malaysia’s low-carbon ambitions and strengthening Penang’s attractiveness to high-value investors.
Datuk Zaini said, “Demand across our industrial developments is increasingly shaped by occupiers’ sustainability requirements. This collaboration reflects Setia’s commitment to integrating sustainability into our industrial strategy while enhancing long-term competitiveness and value creation.”
NCIA Chief Executive Datuk Mohamad Haris Kader Sultan said, “The Special Renewable Energy Economy Zone (SREEZ) under the Northern Corridor Economic Region (NCER) is a demand-driven ecosystem that integrates renewable energy supply with committed industrial offtake to support bankable green investments.
“Our collaboration with S P Setia positions Setia Fontaines Industrial Park as an anchor green consumer, strengthening demand certainty and project viability. This enhances NCER’s attractiveness as a hub for sustainable industrial growth and supports the attraction of investments requiring low-carbon energy solutions,” he said.
Pipeline of 640 Affordable Homes
Setia Fontaines and the Penang State Housing Board (LPNPP) also exchanged Memorandum of Agreement (MoA) documents for Pangsapuri Pinang Setia, comprising 640 affordable homes targeted for completion in 2029.
Each 650 sq ft unit will feature three bedrooms and two bathrooms, and will be priced at RM42,000.
Pangsapuri Pinang Setia reflects Setia’s commitment to delivering sustainable communities and enriching lifestyles to more families across its townships. Residents will benefit from the wider Setia Fontaines ecosystem, including 37 acres of central parks and 63 acres of manmade lakes.
The affordable homes will also enjoy proximity to educational institutions such as Pusat Kanser Tun Abdullah Ahmad Badawi Universiti Sains Malaysia (USM), Universiti Teknologi MARA (UiTM), Maktab Rendah Sains Mara (MRSM) and Kolej Matrikulasi Pulau Pinang.
Expected to reach a population of 30,000 by 2041, Setia Fontaines aims to set a new benchmark for integrated development in northern Penang.
The Prime Minister toured the township’s 100-acre Heritage Park, which features the largest Musical Fountain in Northern Malaysia, interconnected islands with jogging and cycling tracks, and a Waterfront Lifestyle Centre.
Envisioned to drive socio-economic growth and create employment opportunities, Setia Fontaines is expected to contribute towards both state and national aspirations of positioning Penang as a hub for investment and sustainable development.
With more than 50 years of experience in delivering quality developments, Setia remains committed to its purpose of building sustainable communities with enriching lifestyles through sustainable homes and expansive green spaces across its townships.
