Astaka and Kimlun break ground on RM800m Arden tower in Johor-Singapore SEZ

KUALA LUMPUR (May 20): Astaka Holdings Ltd, along with its joint-venture partner Kimlun Corp Bhd (KL:KIMLUN), has commenced construction of Arden, a 68-storey serviced residence with a gross development value of RM800 million, with the ground-breaking ceremony held on Monday. “We are thrilled to embark on the construction of this landmark development,” said Astaka executive director and chief executive officer Allen Khong. “We are pleased to share this milestone with Kimlun, our long-standing partner on projects including Menara MBJB and Aliva Mount Austin. I am proud to highlight that this project brings together two renowned, Johor-based real estate players dedicated to world-class developments that deliver exceptional value to residents and investors. We also wish to thank the Johor government and the Johor Bahru City Council for their support and facilitating the development of this project.” Arden is the first component of Phase 3, which will also include a shopping mall and a five-star hotel, of the One Bukit Senyum development, the flagship project of Astaka, and is located within the Johor-Singapore Special Economic Zone. The freehold development will become Johor Bahru’s second tallest residential building at 260 metres upon completion in 2030. Arden, which sits on 1.73 acres, will comprise 618 serviced residences ranging from 797 to 1,700 sq ft and priced between RM1,300 and RM1,500 psf. The project includes hotel-grade facilities such as sky dining, a KTV lounge, co-working spaces, an indoor golf simulator and about 50 other amenities. Buyers may opt into an integrated hotel stay management model that offers professional property services for short-term rentals, attracting interest from foreign investors seeking flexible income options. The ground-breaking ceremony was officiated by Johor Bahru City Council mayor Datuk Mohd Haffiz Ahmad. “Arden is set to be a remarkable addition to Johor Bahru’s skyline,” said Mohd Haffiz. “It will not just be a skyscraper, but also a symbol of our rapid growth and commitment to becoming a world-class city.” Also at the event, Kimlun CEO Pang Khang Hau said the group looks forward to delivering “another transformative project that will redefine Johor Bahru’s skyline”. One Bukit Senyum, unveiled in 2014, spans 11.85 acres and includes The Astaka (completed under Phase 1) and Menara MBJB (Phase 2). The site is located near key cross-border transport links between Malaysia and Singapore, including the Johor customs, immigration and quarantine complex and the upcoming Rapid Transit System Link.