Astaka Appoints Knight Frank as The Property Manager for Upcoming RM254 million GDV Serviced Residence in Johor Bahru
JOHOR BAHRU, 14 December 2023 – Astaka Holdings Limited (SGX:42S) (“Astaka” or together with its subsidiaries, the “Group”), a leading integrated property developer based in Johor, Malaysia, has appointed Knight Frank Property Management Sdn Bhd (“KFPM”) as the property manager for Aliva Mount Austin (“Aliva”), the Group’s upcoming residential project in Mount Austin with an estimated gross development value (GDV) of RM254 million, Johor Bahru.
“Our vision for Aliva is to create an unparalleled five-star lifestyle and living experience,” said Allen Khong, Executive Director and Chief Executive Officer of Astaka. “As one of Malaysia’s most experienced and reputable property managers, KFPM’s ability to uphold the highest standards of service and quality aligns with this goal perfectly.”
“This partnership is noteworthy as it is the fourth occasion where KFPM has been appointed as the property manager for a development by Astaka,” Allen Khong added. “We are excited to deepen our collaboration and are confident that KFPM’s commitment to excellence will elevate the value of this project.”
Being one of the leading property management companies in Malaysia, KFPM has a proven track record and extensive experience in the property management industry, winning five prestigious awards from The Edge Malaysia Best Managed & Sustainable Property Awards (BMSPA) 2023. The firm’s portfolio includes high-end, iconic luxury residences located in prime areas in Klang Valley such as Bukit Damansara, Bangsar, Hartamas and KL City Centre. KFPM also recently achieved a significant milestone by having 100 buildings under its management in Malaysia.
Notably, KFPM is also the property manager for Astaka’s flagship residential project, The Astaka @ One Bukit Senyum since 2019, which was also recognised as the tallest residential skyscraper in Southeast Asia upon its completion in 2018. Setting a high bar for prestigious properties in Johor Bahru, The Astaka secured high-profile industry awards including the Asia Pacific Property Awards, ASEAN Property Awards, and Asia Property Awards. Approximately 70 percent of its units were purchased by buyers from 15 different countries including Singapore, Indonesia, China, Hong Kong, Japan, Korea, Germany, Brunei and Finland.
“We are honored to be appointed as the property manager for Aliva, the first serviced residence in this thriving township,” said Kuruvilla Abraham, Managing Director of KFPM. “At KFPM, our mission is to deliver outstanding property management services to both our clients and residents. We wish to express our sincere thanks to Astaka for this appointment and look forward to expanding our partnership.”
Aliva, set to be completed at the end of 2026, marks Astaka’s return to the property development scene after a brief hiatus. The project includes 499 units with an estimated GDV of RM254 million. Unlike other conventional residential development, Aliva will come with facilities typically found in hotels, including a grand lobby, concierge with doorstep delivery, EV-charging facilities, and an automated waste management system. Notably, Aliva is set to achieve the distinction of being the first Green Building Index (GBI) certified building in Mount Austin, reflecting the Group’s commitment to creating sustainable and green living spaces.
Aliva’s residents will have exclusive access to a wide range of amenities catering to diverse preferences and lifestyles. This includes a gymnasium that offers workout experience with a panoramic view of Mount Austin. A tranquil infinity pool invites residents to unwind against a backdrop of the townscape, while the basketball court, badminton court, yoga and dance room cater to those with active and wellness-focused lifestyles. These offerings underscore Astaka’s commitment to creating a luxurious, well-rounded living experience in the heart of Mount Austin.
Aliva’s strategic location also offers convenient accessibility to schools, hospitals, and various entertainment and recreational centres across Mount Austin, including Aeon Mall, Toppen Shopping Centre, Eco Palladium Shopping Centre, Austin Heights Golf Club and Austin Heights Water & Adventure Park. This prime location positions Aliva as a coveted residence for those seeking a well-connected and indulgent lifestyle.
