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Ascott Launches First Citadines Serviced Residence In Malaysia


CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), today launched its first Citadines serviced residence in Malaysia – Citadines Kuching Uplands. This reinforces Ascott’s lead as the largest international serviced residence owner-operator in the country. With Citadines Kuching Uplands and other properties due to open in Malaysia, Ascott’s operating apartments in the country will more than double from the current 455 units to a total of 1,168 units across nine properties by 2013. The company has recently clinched a management contract for its second Ascott branded serviced residence in Kuala Lumpur, while its third Somerset property in Malaysia will open next year.

Citadines caters to savvy, independent travellers who want high quality accommodation in a good location and the flexibility to choose the services they require. Ascott introduced the renowned European hospitality brand to Asia Pacific in 2006 with the opening of Citadines Shanghai Jinqiao. Since then, Ascott has opened 10 more Citadines in the region as they have proven to be popular.

Mr Alfred Ong, Managing Director for Southeast Asia and Australia, said: “We see strong growth potential in Malaysia. The country’s economic growth is expected to increase from 3.5% in 2010 to 5.3% in 2014. Foreign Direct Investment is also expected to grow from US$5.8 billion in 2010 to US$8.8 billion in 2014. We currently have Ascott and Somerset properties in Malaysia and we see tremendous potential in bringing the vibrant Citadines concept to the country. The presence of our three brands – Ascott, Somerset and Citadines – will enable us to cater to a wider range of customers. We intend to grow our Citadines brand in Malaysia and we are looking for opportunities to bring it to Kuala Lumpur. We will also look at other potential areas for growth such as Penang, Petaling Jaya and the Iskandar region.” Read the full story

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