Citadines Waterfront KK
http://www.theborneopost.com/2015/0...ence-contract-in-kota-kinabalu/#ixzz3XFrgqVTk
CapitaLand’s wholly-owned serviced residence business unit, The Ascott Ltd (Ascott), has expanded its presence in East Malaysia by securing a management contract for a
253-unit serviced residence – Citadines Waterfront Kota Kinabalu in Sabah.
It will be the first international brand of serviced residence in the state of Sabah when the property opens in 2018.
According to a statement yesterday, with this management contract, Ascott reinforces its lead as the largest international serviced residence owner-operator in Malaysia with over 2,000 apartment units across 10 properties in Malaysia.
Munwar Basha, Ascott’s Area Manager for Malaysia, said: “Demand for quality accommodation in Malaysia has been growing strongly as the country continues to attract foreign direct investment.
“In 2014, Malaysia’s foreign direct investment grew more than eight per cent to RM64.6 billion compared with 2013. Kota Kinabalu is the industrial and commercial centre of Sabah, Malaysia’s second largest state and the country’s biggest producer of palm oil and cocoa.
“Many government institutions and international corporations including banks have set up branch offices in the city.
“A well known destination for eco-tourism, Kota Kinabalu is also popular for meetings, incentives, conventions and exhibitions (MICE). We therefore expect strong accommodation demand from these sectors.”
Basha added: “Besides Citadines Waterfront Kota Kinabalu, Ascott will be opening two more properties in Nusajaya, Iskandar and one in Petaling Jaya, Kuala Lumpur by 2019. We will continue to seek opportunities to expand and strengthen our leadership position in Malaysia.”
Citadines Waterfront Kota Kinabalu will be strategically located in the heart of the city along Jalan Tun Fuad Stephens Road. It is a mere 10-minute drive from the Kota Kinabalu International Airport, which is the second busiest airport in Malaysia after Kuala Lumpur International Airport.
Adjacent to Kota Kinabalu’s Waterfront development that will comprise an upscale shopping mall and a seafront boardwalk lined with varied dining options, the serviced residence will offer residents a great view of the South China Sea. Residents can also enjoy convenient access to the Kota Kinabalu Central Market, KK Plaza retail mall, commercial buildings such as the City Council and various international banks.
Citadines Waterfront Kota Kinabalu is
part of an integrated development that includes a retail mall with supermarket, food and beverage outlets as well as offices.
Residents can choose from a range of spacious studios, one-, two- and three-bedroom apartments that come with a fully-equipped kitchen. Residents can also make use of the comprehensive facilities at the serviced residence such as a swimming pool, children’s play pool, gymnasium, roof garden, lounge and meeting facilities.
Besides Citadines Waterfront Kota Kinabalu, Ascott will open Somerset Medini Nusajaya in 2015, Somerset Damansara UPtown Petaling Jaya in 2016 and Citadines Medini Nusajaya in 2019.
Ascott currently operates Ascott Kuala Lumpur, Ascott Sentral Kuala Lumpur, Somerset Ampang Kuala Lumpur, Citadines DPulze Cyberjaya, Somerset Puteri Harbour Nusajaya, Citadines Uplands Kuching.