Setia Edge @ Setia Business Park II

None of those. Setia Edge sits in Mukim Tebrau, Daerah Johor Bahru, at Persiaran Perniagaan Setia, 81100 Johor Bahru, immediately east of Bandar Dato’ Onn. The coordinate is 1.585268, 103.729897 and the Plus Code is 6PH5HPPH+4X. The local authority is Majlis Bandaraya Johor Bahru, which is independently confirmed by the statutory approval reference MBJB/U/2014/14/BGN/46(45) on the park’s own disclosures.

The confusion is understandable, because S P Setia’s website lists an Ulu Tiram address. That is the Setia Business Park II Sales Gallery at Pelangi Indah, 81800 Ulu Tiram — around 7.4 km east of the land. Several listing sites reprint the gallery address as the project address. If a listing tells you this project is in Ulu Tiram, that listing has copied the sales office.

There is a second trap. Setia Business Park — the first one, without the II — is a genuinely separate 183-acre project at Jalan Laman Setia, 81550 Johor Bahru, near the Second Link, about 19 km away in a different mukim under a different council. Marketing lines about proximity to Tuas belong to that park. This one faces the North-South Expressway and Senai.

Yes, and industrial title in Johor is the friendliest of the three categories. The Johor land office publishes a RM1,000,000 minimum for foreign acquisition across residential, commercial and industrial alike — and Setia Edge starts at RM3.39 million, so every unit clears it comfortably. More importantly, PTG Johor’s own table imposes no foreign-ownership quota on industrial property, where residential terraces are capped at 20% and apartments at 50%.

The cost side is where the common briefing is wrong. Under Pekeliling PTG Johor Bil. 3 Tahun 2025, effective 1 July 2025, the state levy on foreign acquisition is 3% with a RM30,000 minimum for residential and commercial — but for the industrial category it is a flat 4%, with no minimum stated. On a RM3.39 million unit that is roughly RM135,600, not the RM101,700 a 3% assumption would give you. I have read the circular itself rather than a summary of it.

The other correction: the 8% stamp duty that applies to non-citizens from 1 January 2026 is written against “residential property” as newly defined in the Stamp Act — a house, condominium, apartment, flat, serviced apartment or SOHO used solely as a dwelling. A factory is not that. Non-residential transfers by foreign buyers attract a flat rate rather than the tiered citizen scale, and I would have your solicitor confirm the exact figure against the gazetted order, because this definition is only months old.

You will also pay RM2,000 per title for the consent application, and state consent under section 433B of the National Land Code is mandatory. PTG Johor’s client charter is 2-3 weeks where no JPPH valuation is needed and 1-3 months where it is. One point to raise with your solicitor: PTG Johor’s definition of foreign interest includes Malaysian permanent residents, which is stricter than the federal position and stricter than the stamp duty rules. If you are a PR, confirm your status with the land office before you commit.

Three published variants. Cluster Factory: land 8,681-12,085 sq ft, built-up 5,216 sq ft. Link Bungalow Factory: land 13,199-14,168 sq ft, built-up 5,414 sq ft. Bungalow Factory (detached): land 14,314-14,727 sq ft, built-up 5,158-5,380 sq ft. All two storeys.

Floor loading is 10 kN/m² for the production area and the concrete driveway. Electrical supply is three phase, 150 amp, 415 V. Structure is reinforced concrete framework with steel frame and steel trusses; roofing is metal deck or reinforced concrete flat roof; floor finish is hardener in both production and office areas. Each unit gets a fibre termination box and a fibre wall socket.

Note the counter-intuitive detail: the detached bungalow has the largest lot but not the largest built-up. If you need floor area, the link bungalow at 5,414 sq ft gives you more building. If you need yard and four-sided access, the detached is the one.

One naming inconsistency worth raising with the sales team: the marketing copy on S P Setia’s page calls them Cluster, Link-Bungalow and Bungalow, while the specification table on the same page uses “Cluster & Semi-D” and “Bungalow Type A & B”. Ask which nomenclature will appear on the sale and purchase agreement.

The price is the only one of the three S P Setia has published: from RM3.39 million, on its own corporate property record, last modified 8 July 2026. There is no per-variant price list on the public site and no upper bound.

The completion and vacant possession date has never been published. One listing portal states 2027 Q3. That figure appears nowhere in S P Setia’s own material, so I will not put it on this page as though it were a developer commitment. What is documented is the construction status: dated site photographs captioned “Infrastructure in progress as at 07/07/2026”, refreshed roughly every two months.

The total unit count has never been published either. Numbers of 32 and 36 units circulate on listing portals. I could neither confirm nor refute them, so they are not on this page. What is on the public record is that Phase 1 of the wider park comprised 144 units and sold out, per the FY2014 annual report.

I get the current price list, the lot schedule and the specification sheet direct from S P Setia. Message me and I will send you what is accurate on the day you ask, along with the answers to the ceiling height and roller shutter questions, which are the two things I would want in writing before signing anything here.

No, and it matters a great deal. Section 3 of the Housing Development (Control and Licensing) Act 1966 defines housing accommodation and then expressly excludes “an accommodation erected on any land designated for or approved for commercial development”. Industrial and commercial products fall outside the Act entirely.

The practical consequences: there is no statutory Schedule G or H sale and purchase agreement — the developer’s own negotiated contract governs, and its terms can be materially less favourable than the prescribed form. There is no statutory defect liability period, no HDA-prescribed formula for liquidated ascertained damages, no mandated completion date, and no prescribed payment schedule. There is no advertising permit and developer’s licence requirement. And the Tribunal for Homebuyer Claims has no jurisdiction — your recourse is the courts or whatever dispute mechanism the contract contains.

There is one more difference that catches sub-sale buyers later. Under the HDA a developer must confirm its records for a fee capped at RM50 when you sell before the title issues. Outside the HDA, obtaining the developer’s consent is the seller’s problem and the fee is whatever the contract says.

None of this makes the purchase a bad idea. It makes the sale and purchase agreement the single most important document in the transaction. Have a solicitor who does industrial work read it clause by clause, and budget for that properly — it is not the same job as reviewing a Schedule H.

Materially more, and this is the number most first-time industrial buyers underestimate. Majlis Bandaraya Johor Bahru — the council for this site — publishes its assessment rates as a percentage of annual value: residential and others 0.08%, serviced apartments 0.22%, commercial 0.23%, and industrial 0.24%. Industrial is three times the residential rate.

Water is the bigger jump proportionally. Ranhill SAJ, the Johor operator, charges domestic users RM1.05 per cubic metre for the first 20 m³ with a RM10.50 minimum, and non-domestic users RM4.15 per cubic metre for the first 35 m³ with a RM41.50 minimum, rising to RM5.30 above that. Note that Ranhill SAJ uses a single non-domestic tariff — commercial and industrial are not priced separately.

Electricity changed shape on 1 July 2025. TNB now groups non-domestic tariffs by voltage level — low, medium and high — rather than by activity type, so the old commercial-versus-industrial tariff split no longer exists. Maximum demand is split into a capacity charge and a network charge, and the ICPT surcharge has been replaced by a monthly AFA. In practical terms: at the same voltage level, a commercial and an industrial user now pay the same rates. What drives your bill is your voltage level and your load profile, not what your title says.

I am deliberately not quoting sen-per-kWh figures. TNB’s public HTML pages still display the 2014 tariffs and the current rates render client-side; the extractable tables I found were third-party and internally inconsistent. Build your operating budget from a TNB quotation for your actual load, not from a number on a property page.

Higher than most people expect, but it is bank credit policy rather than a regulated ceiling. Bank Negara’s 70% loan-to-value cap applies only to the third and subsequent outstanding housing loan — it is a residential rule. There is no BNM cap specific to commercial or industrial property.

As a documented example from a bank’s own published page rather than a comparison site: Alliance Bank’s commercial property loan advertises a margin of financing of up to 85% plus 5% for credit insurance and entry costs, tenure up to 30 years or age 70, and eligibility explicitly open to both Malaysians and foreigners. That is a bank’s own published term sheet, not a broker’s summary.

What I could not verify from any bank’s own page is a factory-specific or warehouse-specific margin, or a documented haircut for non-resident borrowers. The 60-70% figure often quoted for foreign buyers is unsourced. If you are financing from outside Malaysia, get an indicative letter before you pay a deposit — that is the single most common way an industrial purchase goes wrong.

One practical point: valuation on industrial property is more conservative and slower than on residential, because comparables are thinner. Build extra time into your financing condition in the sale and purchase agreement.

No — and the contrast with the rest of the Johor market is stark. NAPIC’s Property Market Report for full-year 2025, Southern Region, puts Johor’s unsold completed industrial stock at 89 units, against 212 unsold under construction in 2024 falling to 136 in 2025, and zero unsold not-yet-constructed. For context, Johor had 173 unsold completed industrial units in 2023 and 352 in 2021. The trend is downward. Johor industrial transaction value rose 44.0% year on year to RM9.57 billion.

Compare that with the commercial side of the same report. Johor’s unsold completed shops stood at 1,146 units in 2025, with unsold under construction rising 30.9% to 1,351 and unsold not-constructed more than doubling to 135. NAPIC states plainly that unsold completed shops nationally were concentrated in Johor, Sabah and Sarawak, with Johor holding the largest share at 17.7% of volume and 19.6% of value. Johor occupancy for shopping complexes was 73.5% and for purpose-built offices 66.4%.

So if you have read that Johor is oversupplied, the honest answer is: the residential and shop-lot segments are, and the industrial segment is not. That is why CIMB Securities has described Johor as a two-speed market — favouring industrial and landed, cautious on high-rise residential.

Two things I could not verify and therefore will not publish: a Johor industrial vacancy rate, which neither NAPIC nor any consultancy publishes, and a JB industrial rental rate in ringgit per square foot per month from any named professional source. Broker websites circulate ranges. I would not price an investment on them, and I am not going to print them here as though they were market data.

Partly, and it is worth separating what is real from what is atmosphere. The Johor-Singapore Special Economic Zone agreement was signed on 7 January 2025, covering 3,588 km² across nine flagship areas — Setia Business Park II sits within Johor Bahru city territory, Flagship Zone A. The incentives are concrete: 5% corporate tax on qualifying income for 10-15 years, a 15% flat personal rate for knowledge workers for 10 years, investment tax allowances and stamp duty exemptions, with the MIDA window running from 1 January 2025 to 31 December 2034. Since October 2025 MITI has approved fast-track manufacturing licences in seven working days.

The scale of investment is real too: RM76.98 billion approved in 2025, RM5.49 billion in Q1 2026, and 57% of cumulative approved investment now at implementation stage. What has not happened yet is the JS-SEZ Master Plan itself, expected around December 2026 at the Annual Leaders’ Retreat. Until it lands, the zoning detail behind the incentives is not fully public.

The data centre story is genuinely enormous but only indirectly relevant here. Knight Frank’s Data Centre Atlas 2026 puts Johor’s live IT capacity at 1,110 MW, third in Asia-Pacific behind Tokyo and Singapore, with an incoming pipeline of 8,542 MW — the largest in the region — and colocation vacancy at 0.7%. Johor’s approved digital investment stands at RM42.73 billion, of which RM40.3 billion is data centre and cloud.

How that reaches a factory buyer is through land pricing and the tenant pool, not through a data centre next door. JLL puts Johor’s average industrial land price at RM86 per square foot in 2025, up 8.4% year on year, with prime data-centre-adjacent land in Iskandar Puteri at RM120-150 psf. CIMB Securities quotes RM150 psf for prime Johor industrial land against RM70-80 in 2024 — a much steeper rise that cannot be reconciled with JLL’s series, so I quote both and label them by segment rather than pick one. What all sources agree on is direction, and that the supporting-industry tenant pool around these projects is expanding. That is the mechanism, not the headline.

S P Setia publishes no distance table at all for this park — the location block on its pages is a flat image with no figures on it. So every number below is my own calculation from the site coordinate 1.585268, 103.729897, using great-circle distance for straight line and a road-graph router for driving. I would rather show you my method than reprint a marketing figure I cannot source.

Straight line: Senai International Airport 9.4 km, Johor Bahru city centre 14.3 km, the Johor-Singapore CIQ at Bangunan Sultan Iskandar 14.6 km, Johor Port at Pasir Gudang 24.6 km, the Second Link CIQ at Tanjung Kupang 27.3 km, and the Port of Tanjung Pelepas 32.2 km.

By road, roughly: Senai Airport about 18 km and 19 minutes, the Causeway CIQ about 19 km and 19 minutes, Johor Port about 31 km, PTP about 41 km. Treat driving figures as plus or minus 15% — routing engines miss newly opened link roads, and none of these account for real Johor traffic at shift-change hours.

Highway access: the serving expressway is the North-South Expressway E2, and the nearest practical interchange is Exit 255C Bandar Dato’ Onn at about 4.7 km straight line. Exit 255B Setia Tropika and Exit 255 Kempas are at similar distances. The Senai-Desaru Expressway E22 passes about 3.9 km north but has no interchange on that stretch — access to it is indirect, and I would drive it yourself before assuming otherwise.