CapitaLand’s serviced residence business unit, The Ascott Limited (Ascott), is expanding its presence in Iskandar Malaysia by securing a contract to manage its third property in Nusajaya. Ascott was awarded the contract by UMCity Medini Lakeside Development, a wholly-owned subsidiary of United Malayan Land Bhd (UMLand).
Ascott was the first international serviced residence owner and operator in Nusajaya, where the company recently opened Somerset Puteri Harbour Nusajaya, and will be opening Somerset Medini Nusajaya later this year. Somerset Puteri Harbour Nusajaya is the company’s first collaboration with UMLand in Nusajaya.
Slated to open in early 2019, the 214-unit Citadines Medini Nusajaya will be located in Nusajaya’s main business and leisure district, Medini. The 30-story Citadines Medini Nusajaya will be part of UMCity, a mixed development comprising Grade A offices and retail podium. It will be close to the Johor State’s new administrative center, Kota Iskandar, and EduCity, a regional education hub housing over 10 educational institutions. The serviced residence will similarly be near LEGOLAND theme park and Medini Lifestyle Mall, the largest retail center in South Malaysia.
Citadines Medini Nusajaya will offer furnished apartments that come with kitchens, separate living, work and sleeping areas, ensuite bathrooms and other modern amenities. Other facilities will include a swimming pool and gymnasium.
Besides Citadines Medini Nusajaya, Ascott will open Somerset Medini Nusajaya in 2015, and Somerset Damansara Uptown Petaling Jaya in 2016. Ascott currently manages Ascott Kuala Lumpur, Ascott Sentral Kuala Lumpur, Citadines DPulze Cyberjaya, Citadines Uplands Kuching, Somerset Ampang Kuala Lumpur and Somerset Puteri Harbour Nusajaya in Malaysia.
The Ascott Limited is a Singapore company that has over 26,000 operating serviced residence units in cities of Asia Pacific, Europe and the Gulf region, as well as over 12,000 units that are under development, making a total of more than 38,000 units in over 200 properties. The company operates three brands – Ascott, Citadines and Somerset.