S P Setia’s 3QFY2025 Sales Surge 78% to RM1.59 Billion, Driven by Strong Domestic Demand

KUALA LUMPUR (Nov 13) — S P Setia Bhd recorded a sharp rebound in its third-quarter financial performance, with sales jumping 78% year-on-year to RM1.59 billion for 3QFY2025, compared with RM894 million in the corresponding period last year.

The group attributed the surge to strong quarter-on-quarter growth, supported by both development sales and contributions from recent land transactions.

Nine-Month Sales Reach RM3.49 Billion

For the first nine months of FY2025, the developer registered total sales of RM3.49 billion, outperforming the RM3.20 billion achieved in the same period last year.

• Domestic projects accounted for RM2.91 billion, representing 83% of total sales.

  • Central Region contributed RM1.48 billion

  • Southern Region contributed RM1.25 billion

This steady domestic momentum reflects ongoing demand for well-located residential and commercial offerings across Malaysia—especially in growth corridors that continue to attract buyers and investors seeking value near emerging hubs such as commercial property in KL, industrial land in Selangor, factory sites in Puchong, office space in Bukit Jalil and industrial property in the Subang area.

International projects contributed RM577 million, making up the remaining 17%.

Revenue and Profit Supported by Local Developments

S P Setia posted RM2.59 billion in revenue and RM498 million in profit before tax (PBT) for the period, backed mainly by its Malaysian developments. The group has also continued strengthening its financial position, reducing borrowings to achieve a net gearing of 0.35x, in line with its ongoing deleveraging strategy.

President and CEO Datuk Zaini Yusoff said the quarter’s performance reinforces the group’s focus on product quality and portfolio expansion.
“We remain cautiously optimistic as we navigate market challenges and continue exploring opportunities in high-growth segments,” he said.

Boost From Government Policies

S P Setia welcomed several measures from Budget 2026 Malaysia Madani, including:

• Extended stamp duty exemptions for first-time homebuyers

• Enhanced financing schemes to improve homeownership access

These initiatives are expected to further stimulate housing demand and support sales performance in the months ahead.

New Strategic Joint Venture at Setia EcoHill

In October 2025, S P Setia inked a joint venture with Mitsui Fudosan (Asia) Malaysia Sdn Bhd, forming Setia MF EcoHill Sdn Bhd to develop a 113-acre residential enclave at Setia EcoHill, Semenyih.

The RM1.3 billion GDV project will feature 683 bungalows, semi-detached homes and cluster homes, blending S P Setia’s master planning with Japanese design philosophies. The maiden launch is scheduled for 2026.

International Developments: Progress in Vietnam

Overseas, S P Setia’s Setia Edenia at the EcoXuan township in Ho Chi Minh City—an 81 million USD (RM381.1 million) GDV development—held its groundbreaking ceremony in July 2025. Completion is slated for 2027, and the project is positioned to become a landmark address in the northern corridor of Ho Chi Minh City.