JOHOR BARU - Astaka Holdings opened the sales gallery of its 147ha strata township project at Pengerang.
Johor's Sultan Ibrahim Sultan Iskandar officiated the launch and opening of the sales of Bukit Pelali - a gated township of more than 3,800 residential units and shop offices, clubhouse, hotel, private hospital, school, shopping mall, mosque and food courts - to be developed over eight to 10 years.
Located a kilometre away from Pengerang Integrated Petroleum Complex (Pipc), the Bukit Pelali township is the closest sizeable property development to the mega oil and gas hub Pipc, according to a release issued on Monday (May 22).
Prior to the project's launch, Astaka has already sold 50 per cent of Phase 1A, which will be completed in 2018 and comprises 243 terraces and 19 shop offices. Phase 1B, which will feature 143 double-storey terraces, 72 cluster houses, and 10 semi-detached units, is slated for completion in 2019.
Demand for Bukit Pelali is expected to be robust, underpinned by its strategic location - near major highways and attractions including Desaru Beach, Sebana Cove Golf and Marina Resort, and the Tanjung Pengelih and Tanjung Belungkor Ferry Terminals.
"Bukit Pelali is envisioned to be an emblem in the Pengerang region. The township will infuse vibrancy in the district and attract families, businesses and investors to Pengerang," said Astaka chief executive officer and executive director Zamani Kasim.
The project's total gross development value will depend on various factors such as the final masterplan, according to Mr Zamani, who currently estimates the figure at about RM2.3 billion (S$736.4 million) based on, among others, existing projected mix of development units and prevailing market conditions in the vicinity.
Bukit Pelali is developed by Astaka's 51 per cent owned joint venture, Bukit Pelali Properties. The remaining 49 per cent stake is held by Saling Syabas.