Astaka chief executive officer Allen Khong
KUALA LUMPUR: Singapore-listed Astaka Holdings Limited has awarded a RM150mil construction contract to Kimlun Sdn Bhd, a subsidiary of Kimlun Corp Bhd
.
Kimlun will assume the role of main contractor for the RM254mil gross development value (GDV) project, Aliva.
Aliva will have a total of 499 units with built-ups ranging from 595 sq ft to 1,075 sq ft and is strategically positioned to target the premium market segment in Mount Austin, a bustling township in Johor Bahru. The development is slated for completion in the fourth quarter of 2026.
"The contract award marks the continuation of our excellent partnership with Kimlun, their proven track record in delivering high-quality projects aligns perfectly with our vision for Aliva " Astaka executive director and chief executive officer Allen Khong said in a statement.
Since the commercial launch of Aliva in December 2023, the project has achieved a remarkable take-up rate of 70%.
"The response has been overwhelmingly positive from Malaysian buyers, who mainly see Aliva as a great choice for day-to-day living, a second home, or an investment," Khong said.
