Ascott lands new management contract in Cyberjaya

KUALA LUMPUR: CapitaLand Ltd's wholly-owned serviced residence business unit The Ascott Ltd secured a new management contract in Cyberjaya to operate serviced residence Citadines D'Pulze Cyberjaya, it stated on Thursday, Feb 17.

Located opposite the Cyberjaya Transport Terminal, the serviced residence is well positioned to cater to those working in MNC's such as BMW, Dell and Hewlett-Packard, which are walking distance from the residence.

Tony Ho, Ascott's country general manager for Malaysia, believes that the new property will complement its existing properties by "leveraging on Ascott's strong brand presence, international marketing network and track record in managing award-winning serviced residences".

Citadines D'Pulze Cyberjaya is part of an integrated commercial and lifestyle development which includes offices and retail mall that offers restaurants and a supermarket. It features studio-, 1- and 2-bedroom layouts, and will start operations in 2014.

The Ascott Ltd is the world's largest international serviced residence owner-operator with over 21,000 operating serviced residence units in key cities around Asia Pacific, Europe and the Gulf region. About 5,000 units are under development. It is headquartered in Singapore.

The company has three brands — Ascott, Citadines and Somerset — and has a portfolio that covers 70 cities across 20 countires.

CapitaLand is one of Asia's largest real estate companies based in Singapore and listed there. It engages in real estate, hospitality and real estate financial services.