Ascott launches first Citadines serviced residence in Malaysia

CapitaLand’s wholly-owned serviced residence business unit, The Ascott, has launched its first Citadines serviced residence in Malaysia.

The property, called Citadines Kuching Uplands, is scheduled for completion by the first half of 2012.

It is located in the Jalan Simpang Tiga area, which is set to be a hub for education and local federal government administration offices.

With the latest launch, Ascott says its lead as the largest international serviced residence owner-operator in Malaysia will be reinforced.

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 also recently clinched a management contract for its second Ascott branded serviced residence in Kuala Lumpur.

Its third Somerset property in Malaysia will open next year.

The Citadines name is a brand of European serviced apartments that Ascott acquired in 2004.

Source : Channel NewsAsia – 16 Dec 2009

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