Ascott, a wholly owned subsidiary of CapitaLand, has secured a contract from Malaysian property developer Plenitude to manage its first Ascott-branded serviced residence in Penang.
Slated to open in 4Q2021 along the Gurney drive promenade in Georgetown, Ascott Gurney Penang will offer 250 studio apartments and two-bedroom apartments with fully furnished kitchenettes, built-in washers and dryers, averaging 57m² in size.
Facilities will include an all-day-dining restaurant, banquet facilities, meeting rooms, an infinity swimming pool, a gymnasium, a sauna, residents’ lounge, kids’ club, kids’ wet park and dedicated outdoor barbeque areas. The property will also comprise retail components and office units.
With the addition of Ascott Gurney Penang, Ascott will have a total of more than 5,000 serviced apartment units across 25 properties in the country.
In 2020, Ascott expects to open three new properties – Ascott Star KLCC and lyf Raja Chulan in Kuala Lumpur, as well as Juru Residences in Prai, Penang.