Astaka community

[shctaw]

Astaka future look.

 

[shctaw]

JB City Council to relocate HQ to Astaka's One Bukit Senyum

KUALA LUMPUR (Aug 2): Johor Bahru's City Council (MBJB) intends to collaborate with Singapore Exchange-listed property developer Astaka Holdings Ltd in relocating the city council's new headquarters to a new central business district in Johor, One Bukit Senyum (OBS).

In a statement today, MBJB said it has signed a non-binding memorandum of understanding (MoU) with Astaka's 99.99%-owned subsidiary Astaka Padu Sdn Bhd, whereby Astaka will construct, develop and sell to MBJB a 14-storey Grade A office tower, Menara MBJB.

With a gross floor area of approximately 445,848 sq ft and 558 car parks, the city council said Menara MBJB will be located adjacent to The Astaka, a project envisaged to be Southeast Asia's tallest residential towers, upon completion.

The Astaka is being constructed within the OBS and about 700 MBJB staff will relocate to OBS once the office tower is completed by the end of 2019.

OBS is being developed in two phases and is located next to Singapore and projects like the Ibrahim International Business District, the High Speed Rail, the Johor Bahru-Singapore Rapid Transit System and Coronation Square.

MBJB said these projects are part of Sultan Ibrahim Sultan Iskandar's vision to transform Johor Bahru (JB) to become Malaysia's second-biggest city after Kuala Lumpur.

It added the decision to relocate to OBS comes amid increased domestic and international investments in Johor.

OBS is a mixed development which comprises two towers of serviced apartments (The Astaka @ One Bukit Senyum), as well as Phase 2 of One Bukit Senyum, which comprises a shopping mall, grade A office tower, a five-star hotel, serviced apartments and residences.

The entire project has an allowable gross floor area of 6.3 million sq ft and is targeted to be completed by 2021.

Astaka said Phase 1 of OBS, which is The Astaka @ One Bukit Senyum, has achieved 71% sales to date and is expected to receive its Certificate of Completion and Compliance in 2018.

Astaka's chief executive officer and executive director Datuk Zamani Kasim said this MoU is part of Astaka's vision to act as a major catalyst to transform JB.

"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," he said.

JB Mayor A Rahim Nin commended the 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," he said.

"Its state-of-the-art facilities will offer excellent connectivity to propel JB'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," he added.

The mayor also said the MoU is an important development in JB's upward trajectory in providing an efficient system, credible and pioneering governance, effective resource management and utilising the most innovative technologies to benefit the city.

The MoU was also officiated by the Johor State Executive Council for Housing and Local Government YB Datuk Haji Abd Latif Haji Bandi and Astaka's founder and controlling shareholder YB Datuk Daing A Malek Daing A Rahaman.

 

[winners]

"By relocating within OBS, MBJB is positioning itself at the hub of Johor's financial, business and educational activities,"

I thought they have all the while been promoting the Kota Iskandar in Medini as the hub of Johor's future financial and business districts? So, it seems that at the end of the day, the buzz will still be in JB oldtown instead.

 

[shctaw]

Never listen to what they say; just see what they do.

If they need to say things or lie to achieve their sales objective. They will lie.

I thought they have all the while been promoting the Kota Iskandar in Medini as the hub of Johor's future financial and business districts? So, it seems that at the end of the day, the buzz will still be in JB oldtown instead.

 

[bakkuttay]

I thought they have all the while been promoting the Kota Iskandar in Medini as the hub of Johor's future financial and business districts? So, it seems that at the end of the day, the buzz will still be in JB oldtown instead.

hahahaha..... this is the internet. most has hidden agendas.

go buy straits times now, only today's date is the truth and correct.

 

[Tekkun]

I thought they have all the while been promoting the Kota Iskandar in Medini as the hub of Johor's future financial and business districts? So, it seems that at the end of the day, the buzz will still be in JB oldtown instead.

How can MBJB in Medini? Majlis Bandaraya Johore Baru must be in Johore Baru lah. Simple logic, right?

 

[winners]

How can MBJB in Medini? Majlis Bandaraya Johore Baru must be in Johore Baru lah. Simple logic, right?

I'm not saying MBJB cannot be in JB. But their sentence means: "OBS is within the hub of Johor's financial, business and educational activities." So, there's eventually going to be 2 of such hubs, in Medini as well as in the JB oldtown?

 

[Relaxman]

View attachment 27795

JB City Council to relocate HQ to Astaka's One Bukit Senyum

KUALA LUMPUR (Aug 2): Johor Bahru's City Council (MBJB) intends to collaborate with Singapore Exchange-listed property developer Astaka Holdings Ltd in relocating the city council's new headquarters to a new central business district in Johor, One Bukit Senyum (OBS).

In a statement today, MBJB said it has signed a non-binding memorandum of understanding (MoU) with Astaka's 99.99%-owned subsidiary Astaka Padu Sdn Bhd, whereby Astaka will construct, develop and sell to MBJB a 14-storey Grade A office tower, Menara MBJB.

With a gross floor area of approximately 445,848 sq ft and 558 car parks, the city council said Menara MBJB will be located adjacent to The Astaka, a project envisaged to be Southeast Asia's tallest residential towers, upon completion.

The Astaka is being constructed within the OBS and about 700 MBJB staff will relocate to OBS once the office tower is completed by the end of 2019.

OBS is being developed in two phases and is located next to Singapore and projects like the Ibrahim International Business District, the High Speed Rail, the Johor Bahru-Singapore Rapid Transit System and Coronation Square.

MBJB said these projects are part of Sultan Ibrahim Sultan Iskandar's vision to transform Johor Bahru (JB) to become Malaysia's second-biggest city after Kuala Lumpur.

It added the decision to relocate to OBS comes amid increased domestic and international investments in Johor.

OBS is a mixed development which comprises two towers of serviced apartments (The Astaka @ One Bukit Senyum), as well as Phase 2 of One Bukit Senyum, which comprises a shopping mall, grade A office tower, a five-star hotel, serviced apartments and residences.

The entire project has an allowable gross floor area of 6.3 million sq ft and is targeted to be completed by 2021.

Astaka said Phase 1 of OBS, which is The Astaka @ One Bukit Senyum, has achieved 71% sales to date and is expected to receive its Certificate of Completion and Compliance in 2018.

Astaka's chief executive officer and executive director Datuk Zamani Kasim said this MoU is part of Astaka's vision to act as a major catalyst to transform JB.

"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," he said.

JB Mayor A Rahim Nin commended the 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," he said.

"Its state-of-the-art facilities will offer excellent connectivity to propel JB'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," he added.

The mayor also said the MoU is an important development in JB's upward trajectory in providing an efficient system, credible and pioneering governance, effective resource management and utilising the most innovative technologies to benefit the city.

The MoU was also officiated by the Johor State Executive Council for Housing and Local Government YB Datuk Haji Abd Latif Haji Bandi and Astaka's founder and controlling shareholder YB Datuk Daing A Malek Daing A Rahaman.

JIALAT for Astaka community....indeed a bad news. How can this be??

 

[sgcount]

I'm a bit confused now.

Is this financial centre the same as the planned CBD in Kota Iskandar?

How many CBDs are there in Johor? 2?

 

[hasslehoff]

This news is over a year old at least. I heard it at CoAssets exhibition thru Astaka podium. Not sure whether newspaper report legitimises it. We all know reports in news should be taken with pince of salt.. However, I was more inclined to believe this (a yr ago) than the pie in the sky "Future CBDs" either in Danga Bay or Medini.

I wish for all Zones to do well, for all invested/involved. But I've always believed that the local government would never move to zone B. Most staff most likely don't live in Zone B.

JB Royalty + businessmen/developers, + JB Government = Iconic JB Project - in my view strengthens Zone A as centre of gravity

 

[hasslehoff]

JIALAT for Astaka community....indeed a bad news. How can this be??

Why bad news?

 

[Tekkun]

Kota Iskandar is the admin center of Johore State Government and developed by Johor State Government.
Medini is a privatised CBD developed by Iskandar Developments.
Kota Iskandar is not Medini. It is situated next to Puteri Harbour (literally next door) which is developed by UEM Sunrise.
JB City is still the old JB itself. It is developed at its own pace.

So is there 2 CBDs? Well..one is established and the other is privatised. Both have their own strategies to develop themselves.

 

[snowbird]

Kota Iskandar is the admin center of Johore State Government and developed by Johor State Government.
Medini is a privatised CBD developed by Iskandar Developments.
Kota Iskandar is not Medini. It is situated next to Puteri Harbour (literally next door) which is developed by UEM Sunrise.
JB City is still the old JB itself. It is developed at its own pace.

So is there 2 CBDs? Well..one is established and the other is privatised. Both have their own strategies to develop themselves.

The term CDB is so commonly and loosely used here.
But what is really CBD?
Its the short term for Central Business District, used commonly to describe the city centre all over the world where all the major local and foreign banks, international trading companies, MNC rep offices or HQs, stock broking houses, legal firms, Accounting and audit firms, local and international insurance companies, and of course, all the relevant government bodies and stat boards, courtrooms, etc. are located.
In JB, collectively, there are just too few of the above mentioned to qualify as a CDB as of now where you can easily count how many office towers...............it can only be known as commercial centre or Bandar, town area.

 

[Relaxman]

Why bad news?

Astaka will no more be exclusive.....

 

[hasslehoff]

Astaka will no more be exclusive.....

Well I think if Astaka residences was on top of City Sq mall or Pelangi mall, and their offices, it wouldn't be in keeping with what they are trying to achieve.

But I see no issues with office block, hotel, and their respective workers in the Astaka area. I think the make up of tourist, workers, residents will form a healthy critical mass, and ensure a diversity of consumers to ensure survival of eateries, shops, and entertainment establishments. (It's inevitable that there's a trade-off between amenities/convenience vs exclusivity)

With several huge malls coming on stream in JB in the next few years, most will face intense competition. They will need to be creative to draw significant numbers of customers to sustain them. One smart way is to aim for large employers of people as Tenants , I.e. Stat boards/government agencies.

 

[Relaxman]

Well I think if Astaka residences was on top of City Sq mall or Pelangi mall, and their offices, it wouldn't be in keeping with what they are trying to achieve.

But I see no issues with office block, hotel, and their respective workers in the Astaka area. I think the make up of tourist, workers, residents will form a healthy critical mass, and ensure a diversity of consumers to ensure survival of eateries, shops, and entertainment establishments. (It's inevitable that there's a trade-off between amenities/convenience vs exclusivity)

With several huge malls coming on stream in JB in the next few years, most will face intense competition. They will need to be creative to draw significant numbers of customers to sustain them. One smart way is to aim for large employers of people as Tenants , I.e. Stat boards/government agencies.

Astaka will end up like kotaraya JB. No more high end condo status for Astaka.

 

[snowbird]

Well I think if Astaka residences was on top of City Sq mall or Pelangi mall, and their offices, it wouldn't be in keeping with what they are trying to achieve.

But I see no issues with office block, hotel, and their respective workers in the Astaka area. I think the make up of tourist, workers, residents will form a healthy critical mass, and ensure a diversity of consumers to ensure survival of eateries, shops, and entertainment establishments. (It's inevitable that there's a trade-off between amenities/convenience vs exclusivity)

With more than 200,000 Johore residents everyday going over to work in SG everyday and a same consumer group and absence of real tourist (Singaporeans and SPR coming for cheap groceries are not considered tourist) expect severe cannibalism in the retail business.
Example, see how Dana Mall and Pelangi Mall got cannibalised by City Square and now the Komtar JBCC.

With several huge malls coming on stream in JB in the next few years, most will face intense competition. They will need to be creative to draw significant numbers of customers to sustain them. One smart way is to aim for large employers of people as Tenants , I.e. Stat boards/government agencies.

The rotting abandoned dead shopping centre WATERFRONT LOT 1 was built with that in mind - most of the government offices and stat boards are just across the road.
(Actually, most government officers, especially div 2 downwards which is the bulk, are hardly big spenders)

White hot fighting match between shopping malls expected, just see who can tahan longer.

 

[winners]

White hot fighting match between shopping malls expected, just see who can tahan longer.

Don't forget the other big one coming up by the same management as Mid Valley (KL) along Jalan Bakar Batu (the former army camp next to Taman Sentosa). It's touted to be one of the biggest in JB. Also, IKEA in Tebrau by end 2017. Wow.....the consumers will be spoiled for choices.

 

[mpan12]

Going one step further, will there be property bubble in end 2017 or 2018 coming up in Iskandar?

 

[rotikok]

I'm a bit confused now.

Is this financial centre the same as the planned CBD in Kota Iskandar?

How many CBDs are there in Johor? 2?

Kota iskandar is the state gov administration center, nothing much "financial" over there. JB is too spread out, if you mean bank towers as CBD like in Sg, JB got no CBD, only public bank tower nia, likely future CBD is the future IIBD area. If commercial center where banks gather, tmn molek is more likely to be the place to have 'bank business centralise' there, many foreign banks set up there.... but those banks are shoplot.

Going one step further, will there be property bubble in end 2017 or 2018 coming up in Iskandar?

Depend how u define bubble. My belief is that the bubble already burst this year. Rule out other global macro and political issue, if price no drop, then by 2017 hard to drop anymore, 2018 will start to pick up in transaction volume but price will stabalise. Different area will perform differently but sentiment will change when their public transport start to break ground.
If you are expecting the worse, the worse is already happening.