PETALING JAYA (Sept 2): CapitaLand’s wholly-owned serviced residence business unit, The Ascott Ltd (Ascott) has successfully secured a management contract for the 200-unit Somerset Arcadia Miri in Sarawak.
The new serviced residence located within Arcadia Square in Marina ParkCity, which is home to the new Miri City Centre township. It is within close to the city bus terminal and a 20-minute drive to Miri Airport. Somerset Arcadia Miri is expected to open in 2018.
Ascott’s country general manager for Malaysia, Philip Lim is confident that its first property in Miri is well-positioned to tap the growing number of expatriates, business travellers and tourists in Malaysia’s petroleum hub.
“Miri is also a shopping and dining destination frequented by neighbouring Bruneians. Last year, 2.9 million visitors travelled to Miri from Brunei, up 10% from 2.6 million in 2013. Miri is often visited by neighbouring Bruneians as a shopping and dining destination,” said Lim in a press statement.
“The other major economic drivers of Miri include the timber, oil palm and shipbuilding industries which will generate demand for Somerset Arcadia Miri,” Lim added.
Residents can choose from a range of spacious studios, one- to three-bedroom apartments that come with a fully-equipped kitchen and separate work and sleeping areas. Among the facilities are a gymnasium, business centre, residents’ lounge and swimming pool.
“Ascott has been expanding into high-growth cities where strong foreign investment has generated a large demand for serviced residences,” said Lim.
Besides Somerset Arcadia Miri, some of Ascott’s upcoming launches will be the Somerset Medini Nusajaya in 2015, Somerset Damansara Uptown Petaling Jaya in 2016, Citadines Waterfront Kota Kinabalu in 2018 and Citadines Medini Nusajaya in 2019.