The verdict
4.2/ 5Casa Rica is Phase 2 of the Setia Greens township — SP Setia's play in Sungai Ara — and it sits noticeably above Phase 1's older terrace stock.
- Price
- from RM1.90M
- Tenure
- Freehold
- Land title
- Residential
- Completion
- 2024
Zac’s own rating, not an average of user reviews. It reflects one licensed agent’s assessment of this project against others he tracks in Penang.
You have outgrown the terrace. RM1.8 million is the number where Sungai Ara semi-Ds start opening up — and Casa Rica is where SP Setia decided to play at exactly that price. The question this review answers: is the roughly RM660 psf you pay for the Setia Greens address buying you something the older Sungai Ara terrace stock genuinely can't?
Short version. Casa Rica @ Setia Greens is a 60-unit freehold semi-D enclave on around 11 acres at Cangkat Sungai Ara 5-6. It is Phase 2 of SP Setia's Setia Greens township — Phase 1 was completed back in 2013. Spanish-inspired architecture, three themed pocket parks, and completion around 2024. Two layouts: a 2-storey semi-D from about RM1.8M, and a 3-storey with a built-in private lift from about RM2.119M.
Key takeaways:
- Casa Rica sells you the SP Setia name, low density, and a freehold residential title — not raw square footage per ringgit.
- The 2-storey is the natural upgrader unit; the 3-storey is a specific answer to multi-generational living, because of the lift.
- Security is at the perimeter, not at your door. You trade patrol coverage for owner renovation freedom — that suits some upgraders and not others.
- Both layouts sit above the RM1,000,000 island foreign floor with room to spare, so foreign buyers and MM2H holders qualify cleanly.
- The catch: this is semi-D at bungalow-money edges, and the true Greenlane / Bayan Baru / Gurney addresses are still a drive away.
What Casa Rica actually is — Phase 2, not the old Setia Greens
The name "Setia Greens" has been in the Sungai Ara market since 2013. That is Phase 1. When somebody tells you they "live at Setia Greens", they are usually talking about that older stock.
Casa Rica is different. It is Phase 2, launched in 2021 and handed over around 2024, and it slots into the same township master plan without being the same product. The developer entity is Kewira Jaya Sdn. Bhd., a subsidiary of SP Setia Bhd. Small point that matters: because it is the same township, you get the shared address premium; because it is a new phase, you get current construction standards and a fresh completion year on the title.
Sixty units on roughly 11 acres. That is deliberately low density — call it about 5.5 units per acre — and it is what you are paying for on the psf line more than the individual walls.
The two layouts — which one you are actually shopping
Casa Rica sells semi-detached, in two variants. Decide which one you want before you start walking units, because they solve different problems.
The 2-storey is the natural upgrader. You go from a terrace house at 22 by 75 to a semi-D at just under 3,000 sq ft, still on two floors, and it works like a bigger version of what you know. The 3-storey adds a full extra level and a private lift — that is the real feature, not extra room count. If you are planning for elderly parents on the ground floor, or you know you are staying past 65, the lift is the reason to look at it.
| Layout | Bedrooms | Bathrooms | Built-up (sqft) | From price | Notable feature |
|---|---|---|---|---|---|
| 2-storey semi-D | 4+1 | 5 | 2,874 – 3,046 | RM1.80M | Standard upgrader spec |
| 3-storey semi-D | 5+1 | 6 | 3,512 – 3,573 | RM2.119M | Built-in private lift |
Prices are the developer's original launch bands; subsale asking prices in 2026 vary and you should treat any single listing as a data point, not the market rate. Ask for current comparables before you offer.
The Setia Greens address vs older Sungai Ara terrace
Sungai Ara has a lot of resale terrace stock, much of it from the 1990s and early 2000s. You can find a 22 by 75 terrace here for a fraction of Casa Rica money.
So what does the extra ringgit actually buy you?
Three things, honestly. The SP Setia name matters at resale — bank valuations and buyer confidence both lean on it, and Sungai Ara has plenty of unbranded stock competing for the same buyer. Low density on 11 acres is not a feature you can retrofit onto a tighter old subdivision. And freehold residential title on a completed 2024 build starts your clock at "new" rather than at 25 years old, which the next owner will care about too.
What it does not buy you: proximity to the true north-side amenities. Gurney Plaza is 17 km up the coast. If that is where your life is, this is not the address for it.
Who this actually fits — and who should look elsewhere
Casa Rica works for you if:
- You are a Penang island upgrader coming out of a Sungai Ara / Bayan Baru terrace and you want more space, freehold, on a branded township — without jumping to full bungalow money.
- Your daily orbit is Bayan Lepas FIZ (5 km), Queensbay Mall (6 km), Pantai Hospital (3 km). You commute south, you shop south, and Gurney is a monthly trip, not a weekly one.
- You want renovation freedom and are willing to accept perimeter security to get it.
- You are a foreign buyer or MM2H holder looking for landed at the RM1.8-2.5M band, on freehold residential title, without paperwork drama.
Look elsewhere if:
- You are set on full gated-and-guarded strata with a guard at every entry lane and one dedicated to your cluster. That is a different product.
- You want a Gurney or Tanjung Tokong address for the lifestyle, not a Sungai Ara one for the price and the space.
- You are stretching to RM1.8M and would rather have a smaller condo in the north. Different buyer profile, different exit.
The Spanish theme and three parks — decorative or functional?
SP Setia has themed the entire enclave in Spanish colonial style — profile roof tiles, arched windows, bay windows on the facades. The three parks — Casa Rica Garden, Casa Rica Terrace Garden, and De'Alhambra Garden — carry the same identity.
Two honest takes. The theme is decorative, and whether you like it is personal. The parks are functional, because at 60 units on 11 acres, the open space is not filler; it is a meaningful proportion of the land, and your children have somewhere real to run in.
If Spanish styling is not your taste, you cannot subtract it. That should factor into your decision.
The foreign-buyer math — clean qualification
Both Casa Rica layouts sit comfortably above the RM1,000,000 Penang Island foreign minimum, so this is a straightforward qualification for foreign and MM2H buyers.
Budget for these on top of the sticker:
- Penang state levy: 3% of the full purchase price, one-time.
- Stamp duty on the SPA and MOT: a flat 8% for foreigners (the tiered 1-4% scale is the citizen rate; do not model it against foreign purchases).
- State consent (COSA): 3-4 months, handled by your lawyer. Bake it into the payment schedule.
- Foreign LTV: expect about 70% at most banks. Do not plan on 80%.
- RPGT on exit: 30% for years 1-5, 10% from year 6 onwards. Foreigners never reach 0%.
For a 2-storey at RM1.8M, the levy alone is RM54,000, and stamp duty is RM144,000. Neither is optional; both are cash. Model them before you fall for a layout.
The catch — what to check before you offer
Every honest review names the trade-off. Three real ones here.
Guarded, not gated-and-guarded. Security sits at the perimeter with a 24-hour guardhouse. It is not intra-cluster patrol. If you have lived in a genuine strata GTA before, notice the difference on a site visit — do not assume equivalence.
Semi-D at this size is close to bungalow money. A 3-storey at RM2.119M is entry — asking on subsale can be higher — and at that number you are within striking range of small bungalow lots in older subdivisions. Bungalow gives you all four walls; semi-D shares one. That is a real choice, not a technicality.
Distance to the true north-coast amenities. Gurney Plaza is 17 km. If your family spends its weekends there today, driving that both ways every weekend is a lived reality, not a map fact.
Vs the obvious alternative — Isle of Palm
For a like-for-like comparison at the RM2M-plus Sungai Ara-adjacent landed tier, Isle of Palm at Setia Pearl Island is the honest sibling. Same developer family, similar band (from about RM2.2M), different feel — Pearl Island's overall township is larger and closer to Bayan Lepas' commercial core. Walk both before you sign at either.
FAQ
See the FAQ section at the top of this article for the plain-English answers to what most Casa Rica buyers ask us.
Sources
- SP Setia — Casa Rica project page: https://spsetia.com/en-us/property/malaysia-(northern)/penang/casa-rica/home
- Penang Property Talk — Casa Rica @ Setia Greens launch coverage: https://www.penangpropertytalk.com/2021/09/casa-rica-setia-greens/
- My Property Deals — Setia Greens Casa Rica listing detail: https://www.mypropertydeals.com.my/setia-greens-casa-rica-sungai-ara/
- PropertyGuru — Setia Greens condo/community page: https://www.propertyguru.com.my/condo/setia-greens-10904
- Star Property — Setia Greens township insight: https://www.starproperty.my/insight/4865/setia-greens
Related on this site
- Casa Rica @ Setia Greens subsale listing
- Sungai Ara area guide
- Foreign buyer guide to Penang property
- Isle of Palm @ Setia Pearl Island
Disclaimer: This review is for information only and is not tax, legal or investment advice. Prices, availability and regulatory figures change — confirm current numbers with the developer and your appointed lawyer before you offer. Zac Ong is a licensed real estate negotiator (REN 64593) with PropNex Penang.