HotelsSingapore‐based owner‐operator signs contract to manage first property in Malaysia’s island state

Penang will have its first Ascott property in 2021

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One for the records. At the signing ceremony were (from left) Mr Yeo, Madam Chua, Ms Hashimah and Mr Mecja.
One for the records. At the signing ceremony were (from left) Mr Yeo, Madam Chua, Ms Hashimah and Mr Mecja.

PENANG - In two years, the 37‐storey, 250‐unit Ascott Gurney Penang signage will be seen along the famous food paradise that is the Gurney Drive promenade.

Ascott has a strong presence in key Malaysian cities and has been waiting for the right opportunity to bring our flagship Ascott brand to Penang,– Ervin Yeo, Ascott’s regional general manager for Singapore, Malaysia & Indonesia and VP strategic planning

CapitaLand’s wholly‐owned lodging business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Ascott‐branded serviced residence in Penang.

Ascott was awarded the contract by Plenitude Berhad, a Bursa Malaysia‐listed conglomerate, with core interests in property development, property investment and property management.

It is also situated close to CapitaLand’s Gurney Plaza Mall, which according to Ervin Yeo, Ascott’s regional general manager for Singapore, Malaysia & Indonesia and VP strategic planning helped in making the decision.

Ascott Gurney Penang, slated to open in the last quarter of 2021, will be designed by interior designer – Kian Liew, featuring 250 luxury studio apartments and two‐bedroom apartments with fully furnished kitchenettes, built‐in washers and dryers, averaging 57 sqm in size.

This property will have full services with an all‐day‐dining restaurant, as well as business and recreational facilities which include banquet facilities, meeting rooms, infinity swimming pool, gymnasium and sauna, residents’ lounge, kids club, kids wet park and dedicated outdoor barbeque areas.

The property also comprises retail components and office units.

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Artist’s impression of the Ascott Gurney Penang.

The serviced residence management agreement was signed on Nov 28, by Elsie Chua, chairman of Plenitude Berhad, and Mr Yeo. Also present at the signing ceremony were Hashimah Ismail, director of Plenitude International, and Mondi Mecja, country general manager of Ascott International Management Malaysia.

"Ascott has a strong presence in key Malaysian cities and has been waiting for the right opportunity to bring our flagship Ascott brand to Penang,” said Mr Yeo.

2019 marks Ascott's 20th anniversary in Malaysia, where it is the largest serviced residence owner-operator.

With the addition of Ascott Gurney Penang, Ascott will have a total of more than 5,000 serviced apartment units across 25 properties in the country. In 2020, Ascott expects to open three new properties namely Ascott Star KLCC and lyf Raja Chulan in Kuala Lumpur as well as Juru Residences in Prai, Penang.


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