SP Setia emb arks on maiden project in Osaka
PROPERTY developer SP Setia Bhd, which is embarking on its maiden project in Izumisano City in Osaka, Japan, expects the venture to grow the company’s business and foster ties between both countries.
SP Setia senior executive vice-president Datuk Koe Peng Kang says venturing into Japan is part of the company’s aspirations to boost its global presence.
“SP Setia has always had aspirations of expanding overseas. We’ve gone to China, Australia, Singapore, Vietnam and the United Kingdom (UK). Now, we have expanded to Osaka, Japan.
“We are no stranger to going overseas. The main objective is how to grow the business there and have both countries benefiting from the project. Of course, we’re also excited to expand to new territory,” he tells Starbizweek.
SP Setia is developing the Setia Izumisano City Centre, a 4.9-acre integrated development with a gross development value of Rm1.88bil.
The project, which will be officially launched in the third quarter of 2020, will comprise apartments, a business hotel, offices, wellness centre, retail components, a meetings, incentives, conferences and exhibitions centre, as well as gardens and parks.
The project will complete in 2024, just before the Osaka World Expo in 2025, says Koe.
“In 2018, we bid for the project in Izumisano, which is under the prefecture of Osaka. The first station after Kansai International Airport is in Izumisano.
“Kansai International Airport is so busy, with so many tourists coming through its gateway. If we do our marketing correctly and leverage our offices in Singapore, Vietnam, China, Australia and the UK, then we won’t have to go very far to look for people, as our offices all over the world can promote tourism into Japan.”
Koe adds that SP Setia hopes to also collaborate with the Malaysian students that are studying and working in Japan.
“We want there to be an exchange of expertise that would help improve the skills of both countries,” he says.
Meanwhile, Izumisano mayor Hiroyasu Chiyomatsu, who was in Malaysia recently and present during the interview, says he is optimistic about having SP Setia as a business partner.
“This is the first of its kind project by a Malaysian company in Japan and this is the first step for