First Ascott-branded residence coming up in Penang

PETALING JAYA (Nov 29): The first Ascott-branded serviced residence – Ascott Gurney Penang is set open in 4Q2021. Singapore-listed CapitaLand Ltd’s wholly-owned lodging business unit, The Ascott Limited (Ascott), has secured the contract from Bursa-listed Plenitude Bhd to manage Ascott Gurney Penang.

Located along the Gurney drive promenade in George Town, Ascott Gurney Penang has 37 storeys comprising 250 luxury studio apartments and two-bedroom apartments that will be exquisitely designed by award-winning interior designer Kian Liew. Average unit size is 57 sq m. All units will come with fully furnished kitchenettes, built-in washers and dryers.

The project will also feature an all-day-dining restaurant, as well as business and recreational facilities including banquet facilities, meeting rooms, infinity swimming pool, gymnasium & sauna, residents’ lounge, kids’ club, kids’ wet park and dedicated outdoor barbeque areas. The property also comprises retail components and office units.

The serviced residence management agreement was signed yesterday by Plenitude Chairman Elsie Chua, Ascott’s Regional General Manager for Singapore, Malaysia & Indonesia and VP Strategic Planning Ervin Yeo.

Also present at the signing ceremony were Director of Plenitude International Hashimah Ismail and Country General Manager of Ascott International Management Malaysia Mondi Mecja.

“We are very pleased to be chosen by Plenitude to manage their property in Penang. Ascott has been waiting for the right opportunity to bring our flagship Ascott brand to Penang.

“Ascott Gurney Penang will be conceptualised and designed with today’s modern travellers in mind and will offer guests a quality hospitality experience in one of the most hospitable cities in Malaysia,” Yeo said in a press release following the signing.

“Plenitude has long been a trusted name in the region’s property development market, and our partnership with Ascott on this project will allow us to further expand our presence in the fast-growing hospitality segment,” Chua said.

Celebrating its 20th anniversary in Malaysia, Ascott is the largest serviced residence owner-operator in the country. 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 plans to open three new properties, namely Ascott Star KLCC and lyf Raja Chulan in Kuala Lumpur as well as Juru Residences in Prai, Penang.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. Ascott to manage Vietnam’s largest serviced residence integrated development
  2. Penang approves electrical project under 80:20 Maintenance Fund
  3. Ivory Properties optimistic on 2022 performance underpins by govt stimulus plans support