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Astaka Holdings to develop MBJB’s new headquarters

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Heralding a new era of transformation of the southern city of JBCC

 

Johor Bahru’s City Council or Majlis Bandaraya Johor Bahru (MBJB) intends to relocate its headquarters to a new CBD (central business district) of One Bukit Senyum (OBS) to spearhead the transformation of Malaysia’s largest southern city. MBJB and Astaka Holdings Limited, the developer of OBS, announced their joint-partnership collaboration. MBJB together with Astaka Padu Sdn. Bhd. (a 99.99% owned subsidiary of Astaka), which is a premium integrated property developer listed on the Singapore Exchange (SGX), had also signed a non-binding memorandum of understanding under which Astaka will construct, develop and sell to MBJB a 14-storey Grade A office tower, i.e. Menara MBJB. The MOU was officiated by Datuk Bandar Tuan Haji A. Rahim Nin; Johor State Executive Council for Housing & Local Government, YB Datuk Haji Abd. Latif bin Haji Bandi; Astaka’s Chief Executive Officer & Executive Director, Dato’ Zamani bin Kasim; and Astaka’s founder & principal shareholder, YB Dato’ Daing A. Malek bin Daing A. Rahaman.

 

With an estimated gross floor area of 445,848 sq. ft. and 558 car parks, Menara MBJB will be situated adjacent to The Astaka, which is envisioned to be Southeast Asia’s tallest residential towers upon completion. The Astaka is being constructed within OBS and about 800 MBJB staff will relocate to OBS once the office tower is fully completed by late 2019. OBS is being developed in two phases and is strategically positioned next to Singapore – with major catalytic projects such as the Ibrahim International Business District (IIBD), High Speed Rail (HSR), Johor Bahru-Singapore Rapid Transit System (RTS Link) and Coronation Square. All the above projects are part of Sultan Ibrahim Ibni Almarhum Sultan Iskandar’s vision to transform Johor Bahru into Malaysia’s second largest city right after Kuala Lumpur. MBJB’s decision to relocate to OBS arrived amidst increased domestic and international investment in Johor. The whole property development project of OBS has a gross floor area allowance of approx. 6.3 million sq. ft. and is targeted for total completion by 2021. Phase 1 of OBS, The Astaka @ One Bukit Senyum, has so far accrued sales of some 71% and is anticipated to receive its CCC (certificate of completion and compliance) somewhere in the year 2018. For more information on our projects, kindly visit us at: www.astakapadu.com.my

 

This MOU is highly symbolic because it puts one of the State’s most important governing institutions at the heart of urban transformation. By relocating within OBS, MBJB is positioning itself at the hub of Johor’s financial, business and educational activities. Its state-of-the art facilities will offer excellent connectivity to propel Johor Bahru’s quest for second-city status, which will rank it alongside other great second cities such as Los Angeles, Vancouver, Melbourne and Rio de Janeiro. In providing an efficient system, credible and pioneering governance, effective resource management and utilising the most innovative technologies to benefit the city, MBJB is pleased to sign this MOU, which is an important development in our city’s upward trajectory. With the support of a world-leading council headquarters close to the city’s development, in both spirit and geography, I’m pleased that today we are partnering a home-grown JB property developer that has been conferred several awards and accolades in relation to OBS.” – Datuk Bandar Tuan Haji A. Rahim Nin, The City Mayor (Datuk Bandar) of Johor Bahru.

 

This MOU is part of Astaka’s vision to act as a major catalyst to transform Johor Bahru, and brings with it great responsibility. As a respected and responsible developer focused on quality, we will always put our local communities first, to ensure the sustainable and continued growth of our great city. For this reason, we are honoured to set this vision in motion with the development of Menara MBJB.” – Dato’ Zamani bin Kasim, Chief Executive Officer, Astaka Holdings Limited.

 

OBS

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