It was reported that in just seven months, 50% of the Astaka @ 1 Bukit Senyum, the tallest high-end residential tower development project in the region, has been snapped up by buyers.
The project, which has a total of 438 units, commenced in early July this year and is expected to be ready by 2017.
Its developer Astaka Padu Sdn Bhd is selling each unit between RM2mil and RM8.45mil.
Astaka Padu chief executive officer Datuk Zamani Kassim said another 20% of the units have been booked while waiting for the sales and purchase agreements to be signed.
“The Astaka, which means ‘royal pavilion’ in English, is already on its way to becoming a new landmark here.
“Once completed, the Astaka, standing proudly at 304m above sea level, will be the tallest residential tower not only in the country but throughout the region,” he said during the official launch of the Astaka by Sultan of Johor Sultan Ibrahim Ibni Almarhum Sultan Iskandar here yesterday.
He said the Astaka is being developed on the site of the former Hockey Stadium and Johor Baru Indoor Stadium.
“The towers will house 438 luxury suites, including penthouse duplexes. The units will have a built-up area ranging from 2,207 sq ft to 5,408 sq ft. Each floor will house four units.
“The projected gross development value of The Astaka will be more than RM1bil and will be the forerunner in the Johor Baru city transformation plan,” he said.
The project will have a first phase of mixed development, which includes two condominium towers.
Zamani added that the contractor appointed, Penta Ocean Construction Company Ltd of Japan, is well-known in the construction industry, especially in Singapore, with projects including the ION Orchard, the Esplanade Theatre Bay and Marina Promenade.