#SP Setia To Embark On #Large Scale Development Project in Sabah, Malaysia
After a three-year study period, SP Setia Bhd has announced the commencement of an RM 3 billion mixed commercial development project called Aeropod. The ambitious development project has begun in Sabah, marking Malaysia’s most renowned developer SP Setia’s first foray into Sabah.
A mixed-used commercial development spread over 24 ha, the project will consist of three hotels, over 28,000 sq m of retail space – offered as boutique retail lots and a new shopping mall – as well as some 5,000 residential apartments. In addition, the new Sabah Railway Department headquarters will also be built on the premises. The project will proceed in five phases, and will be completed over a period of 8 to 10 years.
Group president and chief executive Tan Sri Liew Kee Sin said that the company’s inaugural Sabah venture began in 2008 when it was appointed by the Sabah government for the redevelopment and modernisation of the Tanjung Aru railway station. As part of the Aeropod project, Tanjung Aru station will also receive a facelift.
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