Naza TTDI partners with The Ascott Ltd

Deal sealed: SM Faliq (left) and Ervin Yeo, regional general manager, MY, SG & Indonesia & VP of Strategic Planning, Ascott International Management shaking hands to seal the deal on the collaboration.

KUALA LUMPUR: Naza TTDI Sdn Bhd has entered into its latest strategic partnership with The Ascott Ltd to further cement KL Metropolis’ position as Kuala Lumpur’s next great neighbourhood where inspired living and flourishing business thrive.

The result of this collaboration is Somerset KL Metropolis, which will be the first branded residences in KL Metropolis, the company said in a statement.

Naza TTDI said that the service residences will be managed by the Ascott team upon its completion in 2022.

Somerset KL Metropolis is a premium service apartment with 262 units that is part of the MET 1 integrated development in KL Metropolis.

It has a gross development value (GDV) of RM333mil, with three design types offering built-up areas of 549 sq ft, 847 sq ft, and 968 sq ft respectively.

Naza TTDI chairman and group managing director SM Faliq SM Nasimuddin said: “We believe that this partnership will add value to the stakeholders of both companies;; locally and internationally.

“We chose to work with Ascott due to the strength of their brand and services globally, ”

KL Metropolis is expected to play an important role as a key area of growth in the business tourism sector, especially in the Klang Valley. Intended to be the most comprehensive MICE (meetings, incentives, conferencing & exhibitions) destination, KL Metropolis is a 75.5-acre mixed-use development with a GDV of RM20bil.

The integrated hub is crafted to enhance Malaysia’s position as the preferred business tourism destination in the region.

The development combines residences, hotels, retail, entertainment attractions and offices.

SM Faliq further elaborated that KL Metropolis will be a place to work, live and play, but also to be a new ecosystem to grow, connect and thrive.

“The master plan of KL Metropolis is designed to emphasize the site’s greatest asset – the plush greenscape - with cafes, bikeways, imaginative landscaping and cultural attractions.

“We expect future residents, retailers, visitors and institutions to be attracted to KL Metropolis by a confluence of public amenities and ease of connectivity - retaining generations of like-minded individuals who are curious and well-informed, ” he added.

The anchor for the business tourism pillar of KL Metropolis is Malaysia International Trade and Exhibition Centre or better known as MITEC; the largest exhibition centre in Malaysia.

MITEC is the first commercial component constructed at KL Metropolis boasting 1,000,000 sq ft of exhibition space 11 exhibition halls and the largest pillarless exhibition hall in Malaysia (the size of two football fields), with the capacity of hosting 40,000 visitors per day.

Ascott is a leading international lodging owner-operator, managing more than 100,000 units in the Americas, Asia Pacific, Europe, the Middle East and Africa through their portfolio of distinctive and award-winning serviced residence and hotel brands.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

property , const , Naza TTDI , partners , The Ascott , residences ,


Next In Business News

City of London Brexit hit worse than expected
Multiple US trade partners risk 'manipulator' label in Yellen's first currency report
Oil price up to fresh 4-week highs as demand outlook improves
GLOBAL MARKETS-World stocks rally as Treasury yields tumble
CIMB stamping its mark in the region
China’s Q1 GDP growth seen hitting record level
Another booster for auto sector
UMW vehicle sales up 35% in first quarter
Bond issuance in March at 22-month high
Pertama Digital raises court bail limit via eJamin

Stories You'll Enjoy