CAPITALAND’S serviced residence business unit, Ascott Limited (Ascott), has opened its first Somerset-branded property in Petaling Jaya’s Damansara Uptown area.
The unveiling of the 211-unit Somerset Damansara Uptown Petaling Jaya marks Ascott’s continued expansion in Malaysia.
The management contract for Somerset Damansara Upptown was awarded by the See Hoy Chan Sdn Bhd Group, which is one of Malaysia’s premier property developers since 1963.
The group is behind the success stories of Damansara Uptown, Damansara Utama and Damansara Jaya.
Philip Lim, Ascott’s country general manager for Malaysia, said he was optimistic about the Malaysian market.
“We see strong growth potential for Ascott in Malaysia. By introducing our Somerset brand to Damansara Uptown Petaling Jaya, our fourth Somerset-branded serviced residence in Malaysia, Ascott’s footprint in Malaysia will increase to over 1,726 apartment units in eight serviced residences across the Klang Valley, Johor and Sarawak.
“Our strategy for Malaysia is to expand in high-growth cities where there is significant demand for international-class serviced residences from expatriates, project teams and business travellers.
“Damansara Uptown in Petaling Jaya is a fast-developing city where a large number of multinational companies are based. It has become a prime commercial district and popular residential area for both locals and expatriates and we are confident that our Somerset brand will do well in Damansara Uptown Petaling Jaya,” he added.
Lim said Ascott was accelerating its expansion across several states while increasing business development in the growth cities in Malaysia.
“Upcoming properties include Citadines Batu Maung Penang, Citadines Shah Alam, Citadines Medini Iskandar Puteri, Citadines Waterfront Kota Kinabalu, Somerset Acardia Miri and Somerset Sphera Putrajaya. We are on track and confident of achieving Ascott’s target of 3,470 units in Malaysia by 2021,” he said.
The 24-storey Somerset Damansara Uptown features a choice of studio, one-bedroom or two-bedroom apartments. Each furnished unit comes with a fully equipped kitchen, a living room, a separate working and sleeping area, an en-suite bathroom and other modern amenities.
Facilities include an indoor and outdoor gymnasium, swimming pool and residents’ lounge as well as two meeting rooms, each with a capacity for 20 persons.
Ascott Limited is a Singapore company with over 29,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East.