KUALA LUMPUR: Astaka Padu Sdn Bhd and Kimlun Corporation Bhd
have teamed up to develop the RM450mil Amora Serviced Residence (ASR) in Tampoi, Johor Bahru, marking their fourth collaboration.
In a joint statement, the companies said the project would be undertaken through their existing joint venture company, Astaka Kimlun Sdn Bhd.
The development, located on approximately 2.45 acres of freehold commercial land, will comprise 617 serviced residence units across two towers of 48 and 45 storeys.
Units will range from 990 sq ft to 2,230 sq ft, with indicative selling prices starting from RM600,000. Each unit will be allocated between two and six parking bays, depending on the unit type.
ASR is expected to be officially launched by the end of 2026.
The project forms part of Astaka Padu's Amora Park integrated development, which also includes 44 shop offices, a wellness mall, a wellness hotel and an education hub.
It said all 44 shop offices were taken up within an hour of their launch earlier this month.
Located next to the Pasir Gudang Highway and a 15-acre urban park, ASR is approximately 15 minutes' drive from the Bukit Chagar Rapid Transit System (RTS) station and the Johor Bahru Customs, Immigration and Quarantine Complex.
Astaka Padu chief executive officer Allen Khong said demand remained strong for residential projects offering differentiated products, connectivity and competitive pricing despite concerns over normalisation in Johor Bahru's property market.
"Despite concerns of normalisation in the Johor Bahru residential market, we continue to see strong demand for projects with clear product differentiation, strong connectivity, good pricing and compelling lifestyle propositions," he said.
The latest project follows the companies' earlier collaborations on Menara MBJB, Aliva @ Mount Austin and Arden @ One Bukit Senyum.
Astaka Padu said Aliva had been fully sold, while Arden had achieved a take-up rate of approximately 95% to date.
Kimlun executive director Chin Lian Hing said the latest development would further strengthen the companies' longstanding partnership.
"We are pleased to expand our longstanding collaboration with Astaka Padu with Amora Serviced Residence. The success of our previous collaborations have demonstrated the complementary strengths of both groups, particularly through the successful development of Arden.
“With ASR, we look forward to extending our successful partnership model and continuing to deliver quality developments that meet the evolving expectations of today’s homebuyers,” he said.
