CapitaLand Investment to serve as retail advisor for Astaka Holdings for the management of its RM1.2 billion ($360 million) gross development value (GDV) mixed-used development in Johor, Malaysia.
The development will include a lifestyle retail mall, which is situated next to the residential skyscraper Arden @ One Bukit Senyum.
The property sits in One Bukit Senyum, which is expected to have a total GDV of RM3.6 billion including all three phases of the project.
One Bukit Senyum is located within the Johor-Singapore Special Economic Zone (JS-SEZ).
Astaka Holdings' flagship residential project is The Astaka @ One Bukit Senyum, developed as Phase 1 of One BukitSenyum, and Menara MBJB, a 15-storey Grade-A office tower, developed as Phase 2. The group’s second development, Bukit Pelali @ Pengerang is a self-contained strata township comprising of residential units, shop offices and other amenities, located in the south-east of Johor.
Shares in CLI closed 3 cents higher or 1.124% up at $2.70 on Aug 19.
