CapitaLand Group’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott) has won a contract to manage its first serviced residence in Iskandar Malaysia, the nation’s southern gateway.
According to a press statement by Ascott, “The contract to build the new 204 unit Somerset Puteri Harbour Iskandar was awarded by Nusajaya Consolidated Sdn Bhd. The residence building is scheduled to open in the Nusajaya flagship economic zone in 2013.”
Ascott chief executive officer, Lim Ming Yan, commented on Malaysia’s strong growth potential for Ascott owing to its resilient economy and attractiveness as a destination for foreign direct investments.
The Malaysian government had also invested significant resources to develop the Iskandar Malaysia region which attracted over RM70 billion worth of investments.
Lim further opined that the region thus spurred opportunities for serviced residences, which Ascott intended to grasp by being the first international serviced residence provider in Nusajaya. By doing so, it hopes to tap on the burgeoning demand for quality accommodation from travellers and expatriates.

Ascott Southeast Asia and Australia managing director, Alfred Ong added that this new contract was a delightful addition to its Malaysian network and hoped to leverage it to further strengthen its position in the country.
“With the addition of this new property in Iskandar Malaysia, we now have a strong growth pipeline of more than 900 units which are scheduled to open in Malaysia over the next five years,” Ong enthused.
The Somerset Puteri Harbour Iskandar Malaysia is located within Nusajaya. Being a mere 25 minutes away from Johor’s Senai International Airport, it is easily accessible, with a convenient array of restaurants, stores and cafes.
The property offers spacious apartment units ranging from studio apartments to three-bedroom units t
hat come fully furnished with modern amenities. It also boasts of facilities such as swimming pool, gymnasium and lounge.
With regards to its future developments, Ascott planned its opening of Citadines Uplands Kuching in 2012, Ascott Sentral Kuala Lumpur in 2013, among many others in the pipeline
Read more: