PETALING JAYA: Astaka Padu Sdn Bhd and Kimlun Corporation Bhd are teaming up to develop Amora Serviced Residence in Johor Bahru, following strong market response to Arden @ One Bukit Senyum.
Marking the fourth collaboration between the two established Johor-based property development and construction groups, the new project. which has a gross development value (GDV) of RM450 million, will be undertaken through their existing joint venture company, Astaka Kimlun Sdn Bhd.
The joint undertaking reflects the growing strategic relationship between the two companies and combines Astaka Padu’s property development, product positioning and marketing expertise with Kimlun’s construction capabilities and project execution experience.
Astaka Padu CEO Allen Khong said despite concerns of normalisation in the Johor Bahru residential market, the company continue to see strong demand for projects with clear product differentiation, strong connectivity, good pricing and compelling lifestyle propositions.
“On this note, we are delighted to announce our fourth collaboration with Kimlun for a distinctive, strategically-located project that caters to larger households, holiday-home buyers and multigenerational living.
“We anticipate strong demand from target buyers for Amora Serviced Residence, with its positioning as a “modern holiday home with park living” concept.
“With its unique location next to a 15-acre urban park, strong connectivity and integration within the wider Amora Park development, Amora Serviced Residence offers a differentiated proposition for the Johor Bahru market.
“We are excited to partner with Kimlun once again for this project. Our partnerships over the years have allowed both parties to develop a strong understanding of each other’s strengths and establish an effective working relationship,“ he said.
Amora Serviced Residence will be developed on about 2.45 acres of freehold commercial land in Tampoi, Johor Bahru.
Strategically located adjacent to the Pasir Gudang Highway and a 15-acre urban park, the development is approximately a 15-minute drive from the Bukit Chagar Rapid Transit System station and the Johor Bahru Customs, Immigration and Quarantine Complex.
Amora Serviced Residence forms part of Amora Park, Astaka Padu’s latest integrated lifestyle development in Johor Bahru.
The Amora Park master plan comprises 44 units of shop offices, Amora Serviced Residence, a wellness mall and wellness hotel, and an education hub, creating a new integrated destination centred around lifestyle, wellness, education and urban park living.
Earlier this month, Astaka Padu launched the shop office component. All 44 units were fully taken up within one hour of launch, demonstrating strong market interest in Amora Park and its surrounding catchment.
Amora Serviced Residence will comprise two residential towers, a 48-storey Tower A and a 45-storey Tower B, offering a limited collection of 617 serviced residence units.
The residences will range from 990 sq ft to 2,230 sq ft, with indicative selling prices starting from RM600,000.
In line with the development’s positioning towards larger households, holiday-home buyers and multi-generational living, each unit will be allocated between two and six car parks, depending on unit type.
Amora Serviced Residence is designed to combine contemporary urban living with the experience of living next to a sizeable urban green space, while remaining well connected to Johor Bahru city centre and major transportation infrastructure.
The development is expected to be launched by the end of this year, with further details on the development, facilities, and sales packages to be announced in due course.
The relationship between Astaka Padu and Kimlun began with Menara MBJB, where Kimlun’s joint venture entity served as the main contractor for the Grade A office development undertaken by Astaka Padu for Johor Bahru City Council.
The partnership continued with Aliva @ Mount Austin, where Kimlun was appointed as the main contractor, before progressing into a joint development partnership for Arden @ One Bukit Senyum.
Kimlun executive director Chin Lian Hing said the group looks forward to expanding longstanding collaboration with Astaka Padu for the Amora Serviced Residence development.
“The success of our previous collaborations has demonstrated the complementary strengths of both groups, particularly through the successful development of Arden.
“With Amora Serviced Residence, we look forward to extending our successful partnership model and continuing to deliver quality developments that meet the evolving expectations of today’s homebuyers,“ he said.