The Astaka @ 1 Bukit Senyum in Johor Bahru is poised to become Malaysia’s tallest residential building when it is completed in four years, according to its developer Astaka Padu Sdn Bhd.
Comprising two condominium blocks of 65 and 70 stories, the 0.96ha project has a gross development value of RM1.2 billion.
The wholly-owned Bumuputera mega project, which comprises The Astaka, hotel, offices, small office/home office, is part of the Johor state government’s privatization and urban renewal projects of Johor Bahru city.
The project will also feature 438 ultra-luxurious suites with tight security measures and dedicated lifts.
Each unit cost between RM2 million and RM8.45 million. To-date there are confirmed purchase for 60 percent of the units, where Singaporeans make up 80 percent.
The inking of the construction agreement between Astaka Padu and Japan’s Penta Ocean Construction Co Ltd was witnessed by Johor Chief Minister Datuk Seri Mohamed Khaled Nordin.
REA, its exclusive agency that undertakes to market the whole project, has sold almost 2/3 of its available units. Strong demand from the well heeled in the Iskandar Malaysia region indeed!