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.