Malaysia: SP Setia Bhd, Malaysia’s biggest listed property developer by sales, will launch a serviced apartment project at its KL Eco City development in mid-2016.
The project will be worth RM500 million (£75 million).
SP Setia acting deputy president and chief operation officer Datuk Wong Tuck Wai said the serviced apartments would be located next to a hotel within the project.
The 25-acre KL Eco City, designed by Jerde International, is on Jalan Bangsar, opposite Mid Valley City in Kuala Lumpur.
It is a strategic public-private partnership between SP Setia and City Hall, and will feature seven office towers and hotels as well as serviced apartments. It will be one of the largest integrated mixed commercial and residential developments in Malaysia, with a 7.5 million square foot gross floor area and RM7 billion (£1.05 billion) GDV.