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 Kuala Lumpur city centre. The company also secured a contract to manage a 232-unit property in Cyberjaya, named
Citadines D’Pulze Cyberjaya, which will be the first international
brand of serviced residence in the ‘Silicon Valley 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, currently, its serviced residences in
Malaysia are performing well with occupancies of around 80%.
