Ireka ropes in Ascott to manage Tiffani by i-ZEN apartments

(From left) Ho, Bernard Sebastian, Residence Manager of
Somerset and Lim in front of Tiffani by i-Zen


KUALA LUMPUR: Builder and property developer Ireka Corp Bhd has roped in Ascott Ltd to manage 147 units of the the Tiffani by i-ZEN apartments within the upmarket enclave of Mont'Kiara.

Ascott, a wholly-owned subsidiary of Singapore real estate heavyweight CapitaLand Ltd, secured the management contract from London-listed Aseana Properties Ltd, a 23.02% associate company of Ireka Corp.

Aseana is the developer of Tiffani by i-ZEN which comprises 399 high-rise residential units with built-up areas of between 815 sq ft and 8,011 sq ft.

Lim Ech Chan, chief operating officer of Ireka Development Management Sdn Bhd, a unit of Ireka Corp, said 90% of the luxury apartments had been taken up so far. The project is expected to be sold out by end of this year.

“The demand for condominiums in Mont'Kiara will always be there. Mont'Kiara is already established. We have a very large expatriate community here and we have three international schools that help.

"For those who want to invest, Mont'Kiara is the place that people still want to come,” Lim said at a media briefing on Wednesday April 21.

Ireka Development, the sole development manager for Aseana,is responsible for the day-to-day management of Aseana's real estate portfolio across Malaysia and Vietnam.

Meanwhile, Ascott country general manager for Malaysia Tony Ho said Tiffani by i-ZEN had attracted foreign buyers.

“(We have) a fair mixture of Americans, Koreans, Japanese and Australian,” Ho said.

Tiffani by i-ZEN is the first residential development managed by Ascott within the Mont’Kiara neighbourhood.