KUALA LUMPUR, Aug 3 — The Johor Baharu City Council (MBJB) and Astaka Holding’s unit, Astaka Padu Sdn Bhd, have inked a non-binding memorandum of understanding.
Under the MoU, Astaka will construct, develop and sell to MBJB a 14-storey Grade A office tower, the Menara MBJB. It is slated to be the MBJB’s new headquarters.
In a statement Wednesday, Astaka said MBJB intends to relocate its headquarters to a new Central Business District, One Bukit Senyum (OBS), to spearhead the transformation of Malaysia’s largest southern city.
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.
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. 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.