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Ascott Secures Contract for New Premium Serviced Residence in Kuala Lumpur’s Largest Commercial & Lifestyle Development

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CapitaLand’s wholly-owned serviced residence business unit, The Ascott Group Limited (Ascott), has clinched a contract to manage a new premium serviced residence in Kuala Lumpur Sentral, the largest commercial and lifestyle development in Malaysia’s capital.

Ascott was awarded the contract by GSB Sentral Sdn Bhd, an established property developer under Gapurna Group with interests in construction, commercial property development and information technology.

The new 143-unit serviced residence, called Ascott Sentral Kuala Lumpur, is part of the prestigious 348 Sentral project which also comprises an adjacent office block whose main occupant will be Shell Malaysia.

Slated to open in 2013, the serviced residence is strategically located in Kuala Lumpur Sentral, a unique ‘City-within-a-City’ development designed by renowned architect Dr Kisho Kurokawa.

Kuala Lumpur Sentral offers connectivity, business convenience and an international lifestyle. It houses Malaysia’s first Multimedia Super Corridor cyber centre and its largest transit hub with six rail networks connecting to all over the country. The exclusive urban centre is also home to the offices of many multinational companies as well as retail, recreational and entertainment facilities. Even though Kuala Lumpur Sentral is phased for full completion by 2015, it is already well-known for its self-contained live, work and play environment.

Mr Lim Ming Yan, CEO of The Ascott Group Limited, said: “We are very pleased to be working with the Gapurna Group on Ascott Sentral Kuala Lumpur. This premier serviced residence property is located within Kuala Lumpur Sentral which is a landmark commercial and lifestyle development that offers excellent connectivity and convenience. KL Sentral is now one of the most sought after office addresses where several multinational companies and large local conglomerates are located. For our customers, Ascott Sentral Kuala Lumpur will offer another premier accommodation when they travel to the capital for business or leisure. At the same time, having our eighth property in Malaysia will enable us to reap even greater economies of scale for our owner and strengthen Ascott’s leading position in the country.”

Y. Bhg. Tan Sri Abdul Halim Bin Ali, Chairman of Gapurna Group, said: “We at GSB Sentral believe in creating outstanding, sustainable and strong partnerships. Our building, 348 Sentral, reflects all these qualities and we are pleased to have Ascott manage our serviced residence. 348 Sentral and Ascott share a strong track record and enjoy excellent reputation. This partnership with Ascott will only elevate the already high standards that 348 Sentral possesses and strives to achieve.”

Ascott Sentral Kuala Lumpur will offer a range of apartment types from studios to one- and two-bedroom units, enabling travellers to choose an ideal residence for their lifestyle. Travellers will also enjoy various amenities including a swimming pool, gymnasium, spa, convenience store, as well as a food & beverage outlet.

With the addition of Ascott Sentral Kuala Lumpur, Ascott has a total of 953 apartment units across eight properties in Malaysia. Ascott Sentral Kuala Lumpur is the second Ascott-branded property in the country, after Ascott Kuala Lumpur which opened in 1999. The company has five other properties in Kuala Lumpur – Somerset Seri Bukit Ceylon, Somerset Ampang (opening in 2010) and three properties for corporate leasing. Elsewhere in Malaysia, travellers can also experience Ascott’s Somerset Gateway when they are in Kuching.

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