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Ascott Signs New Serviced Residence in Malaysia

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Ascott has been awarded a contract to manage its first serviced residence in Iskandar, the southern gateway of Malaysia.

The new 204-unit Somerset Puteri Harbour Iskandar is scheduled to open in the Nusajaya flagship economic zone in 2013.

The contract was awarded by Nusajaya Consolidated, a joint venture between established Malaysian developers United Malayan Land Bhd and UEM Land Berhad.

Somerset Puteri Harbour Iskandar is located within Nusajaya, home to developments such as EduCity which houses several world-class university campuses, Medini which encompasses business and leisure districts, the Southern Industrial and Logistics Clusters and Afiat Healthpark.

The serviced residence is within walking distance to Kota Iskandar, the Johor States new administrative centre. It is a 20-minute drive from the Malaysia-Singapore Second Link and 25 minutes away from Johor's Senai International Airport. It is also easily accessible via the soon to be opened coastal highway which links Nusajaya to the main Johor city centre and the Johor-Singapore Causeway.

 Travellers can enjoy excellent connectivity to other parts of the Iskandar region via the water transport terminal, bus terminal and light rail transit station situated in the propertysvicinity.

As part of the luxurious waterfront development of Puteri Harbour, Somerset Puteri Harbour Iskandar is near quayside lifestyle stores, fine dining restaurants, alfresco cafs and an indoor theme park featuring popular childrens characters such as Hello Kitty, Thomas and Friends, Barney and Bob the Builder.

Furthermore, it is just 10 minutes away from the first Legoland theme park in Asia which is expected to open in 2012.

Somerset Puteri Harbour Iskandar will offer apartments that range from studios to three-bedroom units that come fully furnished with modern amenities.

Facilities will include a gymnasium, swimming pool, restaurant and residents lounge.

Mr Alfred Ong, Ascotts Managing Director for Southeast Asia and Australia, said, Ascott expanded into Cyberjaya and Petaling Jaya earlier this year and we are pleased to add another city to our Malaysian network. Our entry into Iskandar further strengthens Ascotts leadership position as the largest international serviced residence owner and operator in Malaysia. We currently operate five properties with close to 700 apartment units. With this new property in Iskandar, we now have a strong growth pipeline of more than 900 units which are scheduled to open in Malaysia over the next five years. In total, this brings our Malaysian portfolio to over 1,600 units. We will continue to look for opportunities to expand our footprint in Malaysia.

Besides Somerset Puteri Harbour Iskandar, Ascott plans to open Citadines Uplands Kuching in 2012, Ascott Sentral Kuala Lumpur in 2013, Citadines D'Pulze Cyberjaya in 2014 and Somerset Damansara Uptown Petaling Jaya in 2016.

Ascott currently operates Ascott Kuala Lumpur, Somerset Ampang Kuala Lumpur, Somerset Seri Bukit Ceylon Kuala Lumpur and two properties for corporate lease in Malaysia.

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