Setia SV2 | Real Estate Info

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Setia SV2, Jelutong (29 August 2026 Artist Impression)

Also available: Kondominium Setia SV2 (Edisi Melayu) & Setia SV2 (Chinese Version)

Setia SV2 (GPS: 5.39995, 100.31182) is a freehold condominium under development in Jelutong, Penang, by Kay Pride Sdn Bhd, a subsidiary of S P Setia. Located off Lorong Slim next to Setia Sky Ville, the 34-storey residential development occupies approximately 2.3 acres and contains only 268 units, giving it a relatively low-density character. Setia Sky Ville, the earlier phase of the development, was completed in 2021. Setia SV2 is expected to be completed in the first quarter of 2030. ¹

Quick Facts

Location of Setia SV2

Setia SV2 is located off Lorong Slim in Jelutong, within the Taman Desa Green area. Lorong Slim is a relatively quiet local road connecting to Free School Road, while the development itself is positioned beside Setia Sky Ville. ²

The location places Setia SV2 within an established urban neighbourhood rather than a newly created township. Residents are close to schools, markets, shops, restaurants and medical facilities, while major roads provide access to George Town, the Jelutong Expressway and the Penang Bridge.

The development is particularly convenient for households with school-going children because several established schools are located within a short drive. These include SMJK Heng Ee, Penang Free School, Han Chiang High School and other educational institutions in the Jelutong, Green Lane and Air Itam areas. ³

Developer

Setia SV2 is developed by Kay Pride Sdn Bhd, a company within the S P Setia group. The project forms a continuation of S P Setia's residential presence in Jelutong, following the development of Setia Sky Ville next door.

The official project information describes Setia SV2 as a low-density freehold condominium, with only 268 homes in a 34-storey tower. With only about 10 units per residential floor according to the developer's project information, the project is intended to provide a more private residential environment than a large-scale condominium development. ¹

Development and Expected Completion

Setia SV2 comprises one 34-storey residential tower built on a 2.3-acre freehold site. A five-level car parking podium forms the base of the development, while recreational and communal facilities are distributed within the project.

The project was officially launched in late 2025, with an expected completion date of the first quarter of 2030. ¹ As an ongoing development, buyers should distinguish between artist's impressions, marketing information and the final completed building. The developer states that plans, layouts and specifications remain subject to approval and change before completion.

Residential Units

Setia SV2 offers a range of comparatively spacious layouts, beginning at 1,087 square feet and extending to 1,647 square feet. The different configurations are intended to cater to singles, couples, growing families and multi-generational households. ³

Type A

Type A measures 1,087 square feet. It is designed as a compact but flexible home and is available in a 2+1-bedroom configuration, with two bathrooms. Some published layouts also describe a three-bedroom configuration for the same floor area, so buyers should verify the exact layout attached to the unit being offered.

Type B

Type B measures 1,421 square feet and provides three bedrooms and two bathrooms. It features separate dry and wet kitchen areas and a relatively large balcony, making it particularly suitable for families who spend considerable time cooking and entertaining at home. ³

Type B1

Type B1 measures 1,367 square feet and uses a 3+1 configuration with two bathrooms. Its flexible fourth space can be adapted as a study, home office, guest room or additional bedroom. The layout also incorporates barrier-free access, making it more adaptable for households with elderly family members. ³

Type C

The largest layout, Type C, measures 1,647 square feet and provides four bedrooms and three bathrooms. It is intended particularly for larger or multi-generational families and includes a spacious balcony. ³

Facilities

Setia SV2 places considerable emphasis on lifestyle and wellness facilities. The facilities are distributed across the development, including recreational spaces on the lower levels and landscaped areas intended to create a resort-like atmosphere within the urban setting.

• Swimming pool
• Jacuzzi
• Wading pool
• Multipurpose court
• Miniature golf area
• Jogging track
• Gymnasium
• Outdoor gym
• Reflexology path
• Water creek garden
• Zen garden
• Landscaped garden
• Children's playground
• Community garden
• Clubhouse and lounge
• Co-working space
• Meeting room
• Multipurpose hall
• Recreation room
• Surau for men and women

The development also incorporates several technology and sustainability features. These include a smart home system, solar panels intended to power selected common areas, rainwater harvesting for landscape irrigation and dedicated electric vehicle charging stations. ¹

Nearby Amenities

Setia SV2 is surrounded by established amenities. The nearest wet market is Jelutong Market, which provides fresh produce, seafood, meat and other daily necessities. The market is part of the established Jelutong commercial area and is easily accessible from Lorong Slim.

For larger grocery purchases, Lotus's at Lebuh Tunku Kudin is one of the nearest hypermarket options. Other supermarkets and shopping facilities are also available along Jalan Jelutong, Jalan Perak and the surrounding neighbourhoods.

Several petrol stations are located along the surrounding road network. Among the convenient options are Shell on Jalan Jelutong and Caltex on Jalan Jelutong, making refuelling relatively convenient for residents.

Families with young children have several schools nearby. SJK(C) Jelutong is one of the Chinese primary schools serving the area, while SJK(C) Kheng Tean and other Chinese primary schools are also accessible within the wider Jelutong area. ⁴

For international education, Wesley Methodist School Penang (International) at Sungai Pinang is among the more convenient choices from Jelutong. Other international schools can be reached by road towards Bayan Lepas and other parts of Penang Island.

Healthcare facilities are particularly well represented. Lam Wah Ee Hospital on Jalan Tan Sri Teh Ewe Lim is one of the nearest major private hospitals, while Georgetown Specialist Hospital on Jalan Masjid Negeri provides another private healthcare option. ⁵

Public Transport

The nearest established Rapid Penang bus stop is along Jalan Terengganu, approximately 600 metres from the Setia Sky Ville development beside Setia SV2. The stop is served by Rapid Penang bus 206, providing a public transport connection between Jelutong and other parts of George Town. ⁶

For residents who drive, the development has stronger connectivity. Major roads serving the area include Jalan Masjid Negeri, Jalan Perak, Jalan Free School and the Jelutong Expressway. These provide routes towards George Town city centre, the Penang Bridge and other parts of the island. ³

Property Prices and Market Comparison

Setia SV2 was launched with indicative prices starting from RM969,000. More recent official developer information gives a selling-price range of approximately RM1,069,916.20 to RM1,692,654.25, depending on the unit and layout. ¹

There are currently no meaningful subsale transaction records for Setia SV2 because the development is still under construction. A useful market comparison is therefore the adjacent Setia Sky Ville, which was completed in 2021 and is also a freehold condominium developed by S P Setia.

According to Brickz, Setia Sky Ville recorded 6 residential transactions between April 2025 and March 2026, with a median transacted price of RM835,000 and a median price of RM723 per square foot. The middle 50% of transactions fell between RM760,000 and RM888,000. ⁷

For wider context, condominiums throughout Jelutong recorded 77 transactions during 2025, with a median price of RM700,000 and a median of RM614 per square foot. ⁸ These figures indicate that Setia SV2 is being positioned at a premium to the broader Jelutong condominium market, reflecting its new-build status, freehold tenure, larger layouts and S P Setia branding.

Market Price Reference Date

• Setia Sky Ville: RM723 psf median; RM835,000 median transaction price, based on transactions from April 2025 to March 2026. Source: Brickz. ⁷
• Jelutong condominiums: RM614 psf median; RM700,000 median transaction price, based on transactions from January to December 2025. Source: Brickz. ⁸
• Setia SV2: Official developer selling price of approximately RM1,069,916.20–RM1,692,654.25 at the time of checking on 29 August 2026. Source: S P Setia. ¹

These figures are not directly equivalent: Setia Sky Ville and Jelutong figures are completed-property transaction prices, while Setia SV2 figures are developer selling prices for a new development. Buyers should therefore consider unit size, floor level, orientation, view, rebates, furnishing packages and other incentives when comparing prices.

Who Is Setia SV2 Suitable For?

Setia SV2 is aimed at a relatively broad group of owner-occupiers and investors. Its 1,087-square-foot entry-level layout can suit young professionals and couples, while the 1,367- to 1,647-square-foot homes are more appropriate for families requiring additional bedrooms and flexible spaces.

The Type B1 and Type C layouts are particularly notable for multi-generational households. Their additional rooms and accessibility-oriented features allow the home to be adapted as family circumstances change.

The development's freehold tenure and location in an established part of Jelutong may also appeal to buyers looking for a long-term home rather than a short-term speculative purchase.

Fun Fact

Setia SV2 is effectively the second Setia condominium project on the Lorong Slim site. Its immediate neighbour, Setia Sky Ville, was completed in 2021. The two developments therefore represent successive stages of S P Setia's residential presence in this part of Jelutong. ¹

Another interesting feature is that the project's sustainability measures are incorporated into an urban condominium rather than a large suburban township. Solar-powered common areas, rainwater harvesting and EV charging facilities are intended to reduce resource consumption while allowing residents to retain the conveniences of city living. ¹

References

1. S P Setia – Setia SV2 Official Project Information
2. Penang Travel Tips – Lorong Slim, Jelutong
3. EdgeProp – S P Setia launches Setia SV2 in Jelutong, Penang
4. Google Maps – SJK(C) Jelutong
5. Google Maps – Lam Wah Ee Hospital
6. Penang Travel Tips – Setia Sky Ville
7. Brickz – Setia Sky Ville Transaction Prices, April 2025–March 2026
8. Brickz – Jelutong Condominium Transaction Prices, January–December 2025

Setia SV2 is on the Map of Jelutong, Penang

Page Details

This page was created/modified on 29 August 2026. Hi, my name is Timothy and created it from my research, for my own entertainment, knowledge and to satisfy my curiosity. I am providing the information to you in good faith and hope it is useful. I try to get the details as accurate as possible. I also try to update the page whenever I stumble on new details. So this and all my other pages are perpetual work in progress. If you discover any error, please politely inform me, pointing out where the error lies, and I will correct it as soon as possible. Your helpfulness will keep this page accurate, relevant and helpful to those who need the information.

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