Ascott Strengthens Presence In Malaysia With New Property Opening And Secures Another Management Contract
Kuala Lumpur, Malaysia, 17 February 2011 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has opened a 207-unit property – Somerset Ampang Kuala Lumpur, at the prominent Embassy Row in the capital of Malaysia. The company has also secured a contract to manage a 232-unit property in Cyberjaya. To be named Citadines D’Pulze Cyberjaya, the property will be the first international brand of serviced residence in the ‘Silicon Valley of Malaysia’ and its neighbouring township of Putrajaya, the Federal Administrative Centre of Malaysia, when it opens in 2014.
With the new properties, Ascott will strengthen its leadership position as the largest international serviced residence owner-operator in Malaysia with close to 1,400 units across 10 properties.
Mr Tony Ho, Ascott’s Country General Manager for Malaysia, said, “We see strong growth potential in Malaysia as the country grows economically and the arrival of expatriates for business and tourists for leisure or medical purpose continues to increase. Currently, our serviced residences in Malaysia are performing well with occupancies of around 80%. Leveraging on Ascott’s strong brand presence, international marketing network and track record in managing award-winning serviced residences, we are confident that the new Somerset Ampang Kuala Lumpur and Citadines D’Pulze Cyberjaya will complement our existing properties and become much sought-after accommodations for global discerning travellers.”
Somerset Ampang Kuala Lumpur (Now Open)
The new Somerset Ampang Kuala Lumpur is strategically situated close to the capital’s renowned ‘Golden Triangle’ – a major business, shopping and entertainment hub.
The serviced residence is near prime office buildings such as the Petronas Twin Towers, Menara Citibank and Menara ExxonMobil as well as shopping malls such as the Suria KLCC and Ampang Park Shopping Complex. In addition, the Ampang Park Light Rail Transit station is within walking distance, providing convenient access to the rest of the city.
Acquired in 2007, Somerset Ampang Kuala Lumpur is part of a major development which houses one of Malaysia’s leading medical, heart and diagnostic centres, the HSC Medical Centre.
The serviced residence features studio, one-, two- and three-bedroom apartments. Each apartment comes with spacious living and dining area, a fully-equipped kitchen, ensuite bathrooms, designer fittings and modern amenities including a home entertainment system, an iPod dock and wireless Internet access. Travellers and their families can also enjoy facilities such as a rooftop infinity swimming pool, Jacuzzi, gymnasium and children’s wading pool in the property.
In conjunction with the opening of Somerset Ampang Kuala Lumpur, Ascott is offering special rates from RM238++ per night for a studio premier apartment from now till 31 March 2011. For enquiries and reservations, please visit www.somerset.com, call 1800 806 306 or email firstname.lastname@example.org.
Citadines D’Pulze Cyberjaya (Opening In 2014)
Citadines D’Pulze Cyberjaya is strategically located opposite the Cyberjaya Transport Terminal and is within walking distance to renowned multinational companies such as BMW, Dell, DHL, Hewlett-Packard, HSBC, IBM, Motorola, OCBC and Shell. The nation's top educational institutions such as the Limkokwing University of Creative Technology, Multimedia University and Cyberjaya University College of Medical Sciences are also in the vicinity.
Citadines D’Pulze Cyberjaya is part of an integrated commercial and lifestyle development which includes offices and a retail mall that offers restaurants and a supermarket. The serviced residence provides studio, one- and two-bedroom apartments and facilities such as a gymnasium, swimming pool and café lounge.
Besides Citadines D’Pulze Cyberjaya, Ascott will open Citadines Uplands Kuching in 2012 and Ascott Sentral Kuala Lumpur in 2013. Ascott currently operates Somerset Gateway Kuching as well as six other properties in Kuala Lumpur – Ascott Kuala Lumpur, Somerset Ampang Kuala Lumpur, Somerset Seri Bukit Ceylon Kuala Lumpur and three properties for corporate leasing.
About The Ascott Limited
The Ascott Limited is the world’s largest international serviced residence owner-operator with over 21,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 5,000 units which are under development, making a total of more than 27,000 units.
The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across 20 countries, 11 of which are new cities in Ascott’s portfolio where its serviced residences are being developed.
Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific’s first international-class serviced residence in 1984. It also established the world’s first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 27-year industry track record and serviced residence brands that enjoy recognition worldwide.
Recent awards include DestinAsian Readers’ Choice Awards 2011 ‘Best Serviced Residence in Asia Pacific’, Business Traveller UK Awards 2010 ‘Best Serviced Apartment Company’, Business Traveller Asia-Pacific Awards 2010 ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence in Asia-Pacific’, TTG Travel Awards 2010 ‘Best Serviced Residence Operator’ and TTG China Travel Awards 2010 ‘Best Serviced Residence Operator in China’.
About CapitaLand Group
CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company’s core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.
The company’s real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.
The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.