Arden is the first component of Phase 3, which will also include a shopping mall and a five-star hotel, of the One Bukit Senyum development, the flagship project of Astaka, and is located within the Johor-Singapore Special Economic Zone.
The fully sold two-storey linked homes are part of the City of Elmina township, with a gross development value of RM198.
MRCB said the project was awarded to its wholly owned subsidiary, Lembaran Prospek Sdn Bhd, and will span a development period of 48 months.
In an exchange filing, YNH Property said its wholly owned units Kar Sin Bhd and YNH Hospitality Sdn Bhd, together with RHB Trustees Bhd, the trustee of Sunway REIT, have mutually agreed to extend the conditional period of their sale and purchase agreement (SPA) signed on Jan 20, 2025.
BPMB said the financing was evaluated using its Measuring Impact on National Development framework, which checks alignment with the 12th Malaysia Plan and ESG goals.
The project is expected to include seafront suites, retail outlets, wellness areas and office spaces.
Located in the Tun Razak Exchange (TRX), the 26-storey hotel will feature 466 rooms.
Kelana Square Petaling Jaya office sold for RM1.
Sunway REIT said the sale is part of Sunway REIT’s strategy to recycle assets.
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