The 1Tebrau project, an integrated development comprising designer suites and shop offices by Distinctive Properties Sdn Bhd, is expected to rejuvenate Johor Bahru's Jalan Tebrau once it is completed in 2015.
With a gross development value (GDV) of RM330 million, the project will offer 588 units of designer suites and 36 units of four-storey shop offices that will likely lure Malaysians and foreigners, particularly Singaporeans.
"Since our soft launch in June, we have reached 100 percent sales take-up for our
Type A designer suites and over 80 percent sales take-up for our dual-frontage shop offices in Block A," said Datuk David Koh, Executive Chairman at Distinctive Properties.
"The remaining units of Type B and C designer suites and shop offices continue to register strong interests from both locals as well as foreigners."
1Tebrau's Block A comprises 12 units of four-storey shop offices priced from RM1.9 million to RM5 million, while Block B consists of 588 units of 31-storey designer suites priced from RM343,000 onwards. The entire development also has 1,276 units of car parks.
After conducting a market research and feasibility study, the developer is confident with its venture in Johor Bahru, believing that it is one of the five key flagship zones in Iskandar Malaysia.
"As the first modern, lifestyle, mixed development along Jalan Tebrau thus far, 1Tebrau is definitely in line with the government's initiative to transform and rejuvenate Johor Baru under its Tenth Malaysia Plan," said V. Sivadas, Executive Director at PA International Property Consultants Sdn Bhd.
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