ASCOTT is extending its operations in Malaysia, having signed a management contract for the 200-unit Somerset Damansara Uptown Petaling Jaya, opening in 2016.
This positions the company as the largest serviced residence owner-operator in Malaysia, with over 1,500 apartment units across 10 properties. It has just opened the Somerset Jalan Ampang, while its other properties, comprising brands such as Ascott, Somerset, Citadines, Marc Serviced Suites, Seri Bukit Ceylon and Tiffani by I-Zen, are spread across Kuala Lumpur, Cyberjaya and Kuching.
Alfred Ong, Ascott’s managing director for South-east Asia & Australia, said: “As foreign investments continue to increase in Malaysia, we expect strong demand for our serviced residences. By securing our 10th property, we are able to reap greater economies of scale and position Ascott for further growth.”
The upcoming property in Petaling Jaya will be part of an integrated development that includes a 36,800m2 retail mall and five commercial blocks housing multinational corporations, including Deloitte, FedEx, L’Oreal, Lenovo, Symantec and Unisys. Its location is also nearby the upmarket Damansara Heights and Bandar Utama areas hosting various Fortune 500 firms.
The property will offer fully-furnished studios and one- or two-bedroom apartments, with shared facilities that include a swimming pool, restaurant, gymnasium, lounge, business centre and meeting facilities able to accommodate up to 900 pax.
Aside from Somerset Damansara Uptown Petaling Jaya, Ascott has three properties in the pipeline in Malaysia – Citadines Uplands Kuching opening next year, Ascott Sentral Kuala Lumpur opening in 2013, and Citadines D’Pulze Cyberjaya opening in 2014.
By Ellen Chen
