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Ascott and Titijaya unveil RM97 mil serviced residence in KK

KUALA LUMPUR (April 13): CapitaLand Ltd’s wholly-owned subsidiary, Ascott Ltd, unveiled a 253-unit serviced residence in Kota Kinabalu, Sabah today. It is part of a management contract with Titijaya Land Bhd which is tasked with the project development.

“Many government institutions and international corporations, including banks, have set up branch offices in the Kota Kinabalu city [centre]. Kota Kinabalu is popular for meetings, incentives, conventions and exhibitions or MICE. We therefore expect strong accommodation demand from these sectors,” said Ascott Malaysia area manager Munwar Basha.

The Citadines Waterfront serviced residence has a gross development value of RM97 million. It offers studio, 1-, 2- and 3-bedroom apartment layouts with a fully equipped kitchen. The units will have built-ups of between 376.7 sq ft and 1,076 sq ft, and residents will also have a view of the South China Sea. Citadines Waterfront is scheduled for completion in 1H2018.

The facilities will include a swimming pool, wading pool, a gym, a roof garden, a lounge and meeting rooms. It is part of an integrated development that includes a retail mall with a supermarket, food and beverage outlets and offices.

Information on the serviced apartments’ room rates, and further details on the retail and office components in the development are yet to be finalised at press time.

Amenities in the vicinity of Citadines Waterfront include the Kota Kinabalu Central Market, KK Plaza retail mall and commercial buildings such as the City Council, which are within a 10-minute walking distance.

After Citadines Waterfront, Ascott will open three more serviced residences in Malaysia. These include Somerset Medini Nusajaya, Johor in 2015; Somerset Damansara Uptown in Petaling Jaya, Selangor in 2016; and Citadines Medini Nusajaya in 2019.

Citadines Waterfront is Ascott’s 10th property in Malaysia.

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