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Astaka community
- Thread starter SageC
- Start date
This can't possibly be the worst yet. There are so many units still under construction.
The bubble only bursts when we see people abandoning their properties or start slashing their prices.
All those Iskandar condos still being built now have yet to see the light. Once owners receive keys, leave them empty, realize no tenants or rental dirt cheap, desperate ones will sell at 20-30% below market rate, banks start to chase debtors. That's when more downhill is expected.
The bubble only bursts when we see people abandoning their properties or start slashing their prices.
All those Iskandar condos still being built now have yet to see the light. Once owners receive keys, leave them empty, realize no tenants or rental dirt cheap, desperate ones will sell at 20-30% below market rate, banks start to chase debtors. That's when more downhill is expected.
The biggest developments - CGDB and R&FPC - have yet to TOP. IMO the real stress test will come when these TOP when thousands of units will flood the market. The scenario will depend on how many bought to flip or to rent out and took loans to finance. If the number is small, not so bad. On the flip side, if a decent number bought for wkend stays attracted by the flashy lifestyle ads, and assuming these short visits result in greater retail and F&B consumption in JB, this could benefit the local economy with snowballing effects in other areas (renovations, home furnishings, security and cleaning services etc etc).
Actually, how was Princess Cove's sales? just curious. I feel this development is not bad for now but if they launch all their phases next time then might be too crowded.
Ah boy boy..... if you want to know about Princess Cove, ask lim peh la.... Is not whether you feel not bad or not. It is obviously the best Condo project in JB now.
I've never believed "weekend stay" or "holiday homes" will work out for long.
Even so, how can there be "snowballing effects" if those condo units are visited only occasionally or in the weekends by foreign owners? You must have a constant stream of condo dwellers there for the whole place to be lively.
Even in SG, a densely populated nation with people everywhere, many retail stores are already feeling the immense pressure. Many have closed down due to poor and unsustainable business. Let alone Johor.
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Hmmm....considering that it is going to be a high luxury condo and very atas, maybe a more appropriate name would be Ataska!
Hmmm....considering that it is going to be a high luxury condo and very atas, maybe a more appropriate name would be Ataska!
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Astaka is a malay word.
English mean Pavilions.
ASTAKA PADU = Solid Pavilions or Solid foundation.
Astaka is a malay word.
English mean Pavilions.
ASTAKA PADU = Solid Pavilions or Solid foundation.
Hmmm....considering that it is going to be a high luxury condo and very atas, maybe a more appropriate name would be Ataska!
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Astaka Padu to launch final phase of One Bukit Senyum by end of this month
PETALING JAYA (Aug 19): Astaka Padu Sdn Bhd will be unveiling the final phase of One Bukit Senyum (OBS) — the RM6 billion integrated development in Johor Bahru, on Aug 28, according to its CEO Datuk Zamani Kasim.
Zamani said the second phase, which is also the final phase, of OBS will be divided into phases 2A and 2B. Phase 2A, which comprises the Johor Bahru City Council (MBJB) office building on a 2.42-acre site, is slated to be completed by 4Q2019.
Meanwhile, Phase 2B consists of an 8.05-acre integrated development with a gross development value (GDV) of RM4.6 billion, Zamani added.
Phase 2B will offer a 70-storey block of serviced apartments and serviced residences; a 62-storey five-star hotel and branded residences; a 46-storey signature Grade A office tower; and a 10-storey mall. The targeted completion date is 4Q2021.
For the 70-storey serviced apartments and serviced residences in Phase 2B, the developer plans to offer 254 units of serviced apartments with built-up sizes of over 1,000 sq ft and 723 units of serviced residences with an average built-up size of 600 sq ft.
The hotel and branded residences will comprise 450 hotel rooms and 289 branded residences.
Zamani said the company is in the midst of looking for strategic partners to develop phase 2B. Negotiations are in progress and results are expected by year-end.
He added that the master plan for phase 2B will be unveiled end of this month at the ground-breaking ceremony for the RM300 million, 15-storey MBJB building.
The 11.8-acre OBS is located at the intersection of Jalan Tebrau and Jalan Lingkaran Dalam Johor Bahru. OBS is just a 5-minute drive from Johor Bahru city centre and the Johor-Singapore Causeway.
Majlis Bandaraya Johor Bahru (MBJB) is relocating the city council’s new headquarters to OBS due to its strategic location.
OBS’s development began in December 2013 with its first phase comprising The Astaka luxury serviced apartments, offering 438 units with built-ups ranging between 2,207 and 5,554 sq ft to be housed in two towers that are 65 and 70 storeys tall.
The selling price of The Astaka is about RM1,400 to RM1,600 psf. It has achieved a take-up rate of 71% so far.
Astaka Padu to launch final phase of One Bukit Senyum by end of this month
PETALING JAYA (Aug 19): Astaka Padu Sdn Bhd will be unveiling the final phase of One Bukit Senyum (OBS) — the RM6 billion integrated development in Johor Bahru, on Aug 28, according to its CEO Datuk Zamani Kasim.
Zamani said the second phase, which is also the final phase, of OBS will be divided into phases 2A and 2B. Phase 2A, which comprises the Johor Bahru City Council (MBJB) office building on a 2.42-acre site, is slated to be completed by 4Q2019.
Meanwhile, Phase 2B consists of an 8.05-acre integrated development with a gross development value (GDV) of RM4.6 billion, Zamani added.
Phase 2B will offer a 70-storey block of serviced apartments and serviced residences; a 62-storey five-star hotel and branded residences; a 46-storey signature Grade A office tower; and a 10-storey mall. The targeted completion date is 4Q2021.
For the 70-storey serviced apartments and serviced residences in Phase 2B, the developer plans to offer 254 units of serviced apartments with built-up sizes of over 1,000 sq ft and 723 units of serviced residences with an average built-up size of 600 sq ft.
The hotel and branded residences will comprise 450 hotel rooms and 289 branded residences.
Zamani said the company is in the midst of looking for strategic partners to develop phase 2B. Negotiations are in progress and results are expected by year-end.
He added that the master plan for phase 2B will be unveiled end of this month at the ground-breaking ceremony for the RM300 million, 15-storey MBJB building.
The 11.8-acre OBS is located at the intersection of Jalan Tebrau and Jalan Lingkaran Dalam Johor Bahru. OBS is just a 5-minute drive from Johor Bahru city centre and the Johor-Singapore Causeway.
Majlis Bandaraya Johor Bahru (MBJB) is relocating the city council’s new headquarters to OBS due to its strategic location.
OBS’s development began in December 2013 with its first phase comprising The Astaka luxury serviced apartments, offering 438 units with built-ups ranging between 2,207 and 5,554 sq ft to be housed in two towers that are 65 and 70 storeys tall.
The selling price of The Astaka is about RM1,400 to RM1,600 psf. It has achieved a take-up rate of 71% so far.
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Show the way and others will follow. This is how property market work.
Be expensive and exclusive for the discerning few.
Show the way and others will follow. This is how property market work.
Be expensive and exclusive for the discerning few.
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Price back in old day is around RM870-RM1100 psf.
Just the way the game is been played.
No demand do not mean the price go down for such property. So best to enter early phase.
The developer know now the new players (I call them Johnny come lately) will focus on quantum. They start to build 600 sq ft unit for you. Which most likely cost you RM1m. So you qualify to buy but you get smaller unit.
So buyers beware; your RM1m is not buying the same thing as those back in 2012/2013.
Price back in old day is around RM870-RM1100 psf.
Just the way the game is been played.
No demand do not mean the price go down for such property. So best to enter early phase.
The developer know now the new players (I call them Johnny come lately) will focus on quantum. They start to build 600 sq ft unit for you. Which most likely cost you RM1m. So you qualify to buy but you get smaller unit.
So buyers beware; your RM1m is not buying the same thing as those back in 2012/2013.
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Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
For me, I wouldn't want to consider this development anymore. That's because it will become too commercialize with the MBJB there. There will be traffic congestion, lack of privacy and exclusiveness. I would rather stay in a fully residential condominium for such a price. I don't understand why in JB there are so many of such commercial-cum-residential condominiums?
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
True. The MBJB located there spoiled the entire development.
Originally the cars there are Merc and Beemers, now with MBJB, you have all walks of life from little Perodua Kancils to commercial vans. Not trying to say we are aloof but to command high end pricing, you need to have a sense of affluence.
I still prefer Puteri Harbour
True. The MBJB located there spoiled the entire development.
Originally the cars there are Merc and Beemers, now with MBJB, you have all walks of life from little Perodua Kancils to commercial vans. Not trying to say we are aloof but to command high end pricing, you need to have a sense of affluence.
I still prefer Puteri Harbour
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Seems like the in-thing to have residential-cum-commercial condos these days. Even in Singapore, many suburban condos are like that. It gives the impression of a "one-stop" convenient place to shop and then go up to your home.
I find there are pros and cons. Unless the shopping centre is high class type, otherwise, it can cheapen the whole place. Gets noisy and crowded too. I'm referring to Singapore's though, not sure about Johor's.
For Medini, many condos are also this kind of mixed development type. It remains to be seen how well they will take off. I think the demand will be very bad for many years. The one at 1 Medini Residences turns out to be a disappointing empty row of shops.
Seems like the in-thing to have residential-cum-commercial condos these days. Even in Singapore, many suburban condos are like that. It gives the impression of a "one-stop" convenient place to shop and then go up to your home.
I find there are pros and cons. Unless the shopping centre is high class type, otherwise, it can cheapen the whole place. Gets noisy and crowded too. I'm referring to Singapore's though, not sure about Johor's.
For Medini, many condos are also this kind of mixed development type. It remains to be seen how well they will take off. I think the demand will be very bad for many years. The one at 1 Medini Residences turns out to be a disappointing empty row of shops.
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Not only that, the utilities (electricity and water) rates are also higher.
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
Cant wait till next year Christmas.
Cant wait till next year Christmas.
True. The MBJB located there spoiled the entire development.
Originally the cars there are Merc and Beemers, now with MBJB, you have all walks of life from little Perodua Kancils to commercial vans. Not trying to say we are aloof but to command high end pricing, you need to have a sense of affluence.
I still prefer Puteri Harbour
Re: Astaka Padu Sdn Bhd is going to be listed in Singapore????
When you buy a Beemer, you don't complain about petrol prices la.
When you buy a Beemer, you don't complain about petrol prices la.
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