Thursday, 3 August 2017

(NST) One Bukit Senyum's key role in transformation of Johor

THE iconic One Bukit Senyum development in Johor has been granted node status by the Finance Ministry and the Iskandar Regional Development Authority (Irda).

The node status accords Phase 2 of the RM5.4 billion project full income-tax exemption on proceeds from the sale and income derived from the leasing of all non-residential buildings, said Astaka Holdings Ltd executive director and chief executive officer Datuk Zamani Kasim.

Singapore Exchange-listed Astaka is developing One Bukit Senyum, which will be Johor Baru’s new central business district and administrative centre when it is completed in 2023.

Occupying 4.8ha of freehold land with a gross floor area of 6.3 million sq ft, One Bukit Senyum was conceptualised by renowned architecture giant Skidmore, Owings and Merrill, the designers of Dubai’s Burj Khalifa, the world’s tallest building.

Phase 2 will feature the new headquarters of the Johor Baru City Council (Menara MBJB), a five-star hotel, a premium shopping mall, as well as branded residences and serviced residences known as The Astaka (meaning, royal pavilion).

Zamani said the node status accorded to One Bukit Senyum underscores the significance of the project and the trust that both the federal and state governments have in the development.

One Bukit Senyum is tipped to play a key role in Johor’s transformation into a burgeoning metropolis of Malaysia.

Zamani told NST Property previously that the company’s vision was to create an iconic and distinct development that would transform the skyline of Johor Baru.

He said The Astaka, comprising two residential towers of 65- and 70-storeys high, will not only become a landmark in Johor but also set new standards for luxurious developments in Malaysia upon completion later this year.

Since the launch of The Astaka, the company has received many accolades and won over discerning buyers.

Among the awards are “Best Condo Development (Malaysia)” by Southeast Asia Property Awards (Malaysia) 2015 and “Best Luxury High Rise Development” by People’s Choice Awards Malaysia.

The residential towers would be the tallest in Southeast Asia. They will feature a full-curtain wall, the first for a residential tower in Malaysia, round-the-clock security, bespoke concierge services and the highest sky garden in the country.

Meanwhile, Irda chief executive Datuk Ismail Ibrahim said landmark developments such as One Bukit Senyum, which are in the Johor Baru city centre or Flagship A of Iskandar Malaysia, would attract new investments.

This will create job and business opportunities for the rakyat, he said.

“This development will also contribute to efforts to enhance Johor Baru’s standing as one of the leading growth centres to spur the nation’s drive towards becoming a high-income nation,” added Ismail.