Making a grand entrance in Damansara
CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has strengthened its leadership position in Malaysia with a new management contract in Petaling Jaya which is awarded by See Hoy Chan Sdn Bhd.
The 200-unit Somerset Damansara Uptown Petaling Jaya is slated to open in 2016.
Ascott’s entry into the fast-developing Damansara Uptown in Petaling Jaya also extends the company’s footprint to a new city in Malaysia. With the addition of Somerset Damansara Uptown Petaling Jaya, Ascott remains the largest international serviced residence owner-operator in Malaysia, with over 1,500 apartment units across 10 properties.
Ascott’s managing director for South-East Asia and Australia Alfred Ong said: “By securing our 10th property in Malaysia, we are able to reap greater economies of scale and position Ascott for further growth in Malaysia. Somerset Damansara Uptown Petaling Jaya is in a prime commercial district and there are no other serviced residences within our vicinity. As foreign investments continue to increase in Malaysia, we expect strong demand for all our serviced residences.”
Somerset Damansara Uptown Petaling Jaya is located in Damansara’s main commercial district. The development will include a 400,000sq ft retail mall and five commercial towers housing multinational corporations such as Deloitte, FedEx, L’Oreal, Lenovo, Symantec and Unisys. It is also close to Damansara Heights and Bandar Utama which are host to many Fortune 500 firms.
The property will offer a range of furnished studios, one- and two-bedroom apartments with fully-equipped kitchens.
Guests will be able to enjoy facilities such as a gymnasium, swimming pool, restaurant and sky lounge.
Business travellers will be able to make use of the business centre and a conference hall which can accommodate up to 900 people.
In addition to Somerset Damansara Uptown Petaling Jaya, Ascott has three new properties scheduled to open in Malaysia over the next three years.
The properties to be opened are Citadines Uplands Kuching (opening in 2012), Ascott Sentral Kuala Lumpur (2013) and Citadines D’Pulze Cyberjaya (2014). Ascott currently operates Ascott Kuala Lumpur, Somerset Ampang Kuala Lumpur, Somerset Seri Bukit Ceylon Kuala Lumpur and three properties for corporate lease.
By Star Property Online