Singapore-based Pacific Star Development has invested in a prime 339,800 sq ft waterfront freehold site in Puteri Harbour, Iskandar Malaysia, to develop an integrated mixed-use project with a gross floor area of about 1.3 million sq ft.
Acquired for RM93.3 million (S$38.8 million) from UEM Land, the master developer of Puteri Harbour, Pacific Star plans to develop apartments, SOHO units and a lifestyle retail centre fronting a picturesque cove where a private marina and clubhouse will be built later this year.
Mr Glen Chan, Chief Operating Officer of Pacific Star, said: “We look forward to launching the sales before the end of this year where we aim to achieve a gross development value of more than RM1.18 billion.”
The project will consist of three 25-storey apartment towers, offering 800 apartments with one to four bedrooms each, and another two low-rise blocks set at the water’s edge, which will house the multi-functional SOHO units.
The apartments and SOHO units will have a panoramic view of the marina, sea, Straits of Johor and skyline of western Singapore, the developer said.
The two-storey retail centre of about 120,000 sq ft will have about 80 units to cater to residents’ shopping, lifestyle and leisure needs, it added.
Source : Today – 17 May 2013