Astaka Holdings Limited (Astaka) has recently announced the kickstart of Phase 3 of One Bukit Senyum, their flagship development in Johor, Malaysia. This phase will be undertaken through a joint venture involving a wholly-owned subsidiary of Kimlun Corporation Berhad (Kimlun) and Seaview Holdings Sdn Bhd (Seaview), two prominent players in the engineering, construction, and real estate sectors in Malaysia.
The joint venture will be responsible for the development of Arden @ One Bukit Senyum, the first project under Phase 3 of One Bukit Senyum. Arden is a prestigious project with a gross development value (GDV) of RM600 million, featuring 600 units of premium serviced residences in a skyscraper building. The units will range from 750 to 1,650 square feet in size, with prices ranging from RM1,300 to RM1,500 per square foot. The project is scheduled to launch in the fourth quarter of 2024, with construction expected to be completed within 48 months.
Allen Khong, Executive Director and Chief Executive Officer of Astaka, expressed his excitement about the collaboration, stating that Arden will cater to the growing demand for premium real estate in the region. He highlighted the expertise of Astaka in the high-end market segment and the reputation of Kimlun as a leading construction firm in Johor. The partnership aims to create another iconic landmark in Johor Bahru’s skyline.
Kimlun Executive Director Pang Khang Hau also shared his enthusiasm for the project, emphasizing the company’s experience in delivering high-quality construction projects. He sees Arden as a valuable addition to their real estate portfolio in Malaysia.
Seaview Executive Director Daeng Fatin Zulaika A Malek commended Astaka for their track record in developing iconic real estate projects like The Astaka and Menara MBJB. She expressed confidence in Astaka’s ability to realize the full potential of Arden and contribute to the transformation of Johor Bahru into a world-class city.
One Bukit Senyum, unveiled in 2014, is a massive real estate development spanning 11.85 acres of freehold land. Positioned as Johor Bahru’s new central commercial district, the project is strategically located near key infrastructure such as the Johor customs, immigration, and quarantine complex, as well as the upcoming Johor Bahru–Singapore Rapid Transit System Link.
The first two phases of One Bukit Senyum, The Astaka and Menara MBJB, have already made significant contributions to Johor Bahru’s skyline and infrastructure. The completion of The Astaka in 2018 marked the construction of Southeast Asia’s tallest residential skyscraper, attracting buyers from various countries. Menara MBJB, completed ahead of schedule in 2020, now serves as the administrative headquarters of Johor Bahru’s City Council.
With the commencement of Phase 3 and the development of Arden, Astaka continues to set high standards for the real estate industry in Johor. The joint venture with Kimlun and Seaview signifies a strategic partnership that aims to deliver another landmark project that will further enhance Johor Bahru’s urban landscape.