Ascott clinches contract to manage KL serviced residence

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The Ascott Group, the serviced residential unit of CapitaLand, has secured a contract to manage a new premium serviced residence located in Kuala Lumpur.

Ascott did not disclose the value of the contract, which was granted to a property developer under the Gapurna Group.

The serviced residence, scheduled to launch in 2013 is situated in Kuala Lumpur Sentral - a distinctive "City-within-a-City" development.

The 143 unit serviced residence is part of a project that includes an adjacent office block, with Shell Malaysia as the main occupant.

In total, Ascott has 953 apartment units across its eight properties in Malaysia.

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