Ascott announces third Nusajaya property
Malaysia: The Ascott Limited has stepped up its presence in Iskandar Malaysia by securing a contract to manage its third property in Nusajaya.
Scheduled to open in early 2019, the 214-unit Citadines Medini
Nusajaya is set in Nusajaya's main business and leisure district.
Ascott has been awarded the contract by UMCity
Medini Lakeside Development Sdn Bhd, a wholly-owned subsidiary of
United Malayan Land Bhd (UMLand).
The 30-storey building is part of UMCity, a mixed-use development
comprising offices and retail. It is close to the Johor State's new
administrative centre, Kota Iskandar, and EduCity - a regional
education hub housing over 10 established educational institutions.
The serviced residence is also near LEGOLAND theme park and Medini
Lifestyle Mall, the largest retail centre in South Malaysia.
Gerald Yong, chief investment officer for The Ascott Limited,
said: "There is significant potential for serviced residences in
Iskandar, which is primed to be a key economic growth region in
Malaysia as more multinational companies set up base in the area.
Ascott was the first international serviced residence owner and
operator in Nusajaya, a major new growth centre of Iskandar, where
we recently opened Somerset Puteri Harbour Nusajaya and will be
opening Somerset Medini Nusajaya later this year. Somerset Puteri
Harbour Nusajaya is our first collaboration with UMLand in Nusajaya
and it has been performing well since it opened last month."
"Since Ascott entered Malaysia in 1999, we have grown to be the
largest international owner and operator of serviced residences in
the country. We are delighted to partner with UMLand, one of the
largest developers in Malaysia with an extensive portfolio of
properties in various parts of Malaysia. Through this partnership,
we will bring our award-winning Citadines brand of serviced
residences to Nusajaya. Citadines Apart'hotel provides independent
travellers with flexible services to customise their stay
experience according to their lifestyles," he added.
www.the-ascott.com