CapitaLand to advise Astaka on $465m Johor retail project

It will cover asset planning, pre-opening, and post-opening stages of the development.

CapitaLand Investment Limited (CLI) will provide retail advisory support for Astaka Holdings Limited’s $465m (RM1.2b) mixed-use development in Johor.

The project includes a lifestyle retail mall next to the Arden @ One Bukit Senyum residential tower.

Astaka has signed a Retail Advisory Service Agreement with CLI to develop the project’s retail strategy.

The signing was witnessed by Johor Menteri Besar Dato’ Onn Hafiz bin Ghazi.

CLI will provide advisory support covering asset planning, pre-opening and post-opening stages of the development.

The master plan for Phase 3 of the One Bukit Senyum project was also unveiled. Phase 3, which includes the Arden tower and the new mixed-use development, carries a GDV of $814m (RM2.1b).

The full One Bukit Senyum project across three phases is valued at $1.39b (RM3.6b).

Astaka said the agreement with CLI will not have a material impact on its net tangible assets or earnings per share during the project.