Developer Alpine Return Sdn Bhd and international serviced residence operator The Ascott Limited (Ascott) jointly launched the Ascott Star KLCC. Ascott will manage Ascott Star KLCC Kuala Lumpur serviced residence.
Formerly known as Star Residences Tower 3, the 58-storey Ascott Star KLCC Kuala Lumpur is part of Alpine’s Star Development project of mixed residential and retail units at Jalan Yap Kwan Seng in the Central Business District of Kuala Lumpur. Ascott Star KLCC Kuala Lumpur comprises 471 fully-fitted units from 700 sqft one-bedroom studios to four-bedroom 2,972 sqft apartments.
Under the terms of the agreement, Ascott will manage a minimum of 387 keys of fully-furnished units whilst providing the amenities and conveniences of a hotel such as concierge, room service, broadband connectivity, daily housekeeping as well as laundry facilities.
The property boasts a roof-top sky park with panoramic city views overlooking the Petronas Twin Towers and full serviced apartment facilities which includes a 25 metre infinity pool, a gymnasium, sky lounge and sky bar & restaurant. Residents will also have access to Star Boulevard, Malaysia’s latest tourist hot spot with a 200m-long Star Walk of Fame akin to Los Angeles’ Hollywood Walk of Fame and Hong Kong Star Avenue. 36 world-renowned celebrities will lend their hand imprints to the Star Walk of Fame, with the first being Malaysia’s shoe couturier and Star Ambassador Datuk Jimmy Choo.
“The demand for serviced apartments in Kuala Lumpur is rising with the number of local and foreign corporate travellers looking to stay for extended periods…This strategic partnership will realize great value for property owners looking for rent-income and an assurance of professionally managed services for guests,” said Mr Alan Koh, chief operating officer of Alpine Return.
Ascott’s Regional General Manager for Singapore and Malaysia, Mr Ervin Yeo said: “We can assure our partners and guests that [Ascott Star KLCC] will bear all the hallmarks of our world-renowned Ascott hospitality – first-rate services, high-quality facilities and 24-hour security. With Ascott Star KLCC Kuala Lumpur’s strategic location at the heart of the city, where many multinational companies are based, we are confident that the serviced residence will be a draw for discerning business and leisure travellers seeking a world class experience and the comforts of home.”
Mr Koh was optimistic about the take-up rate for Ascott Star KLCC Kuala Lumpur based on brisk sales. Tower 1, comprising 557 units launched in November 2013 is all sold out; Tower 2, launched in 2016 comprising 482 units, sees a take up rate at 90%.
The four-acre development has a gross development value (GDV) of RM3billion. Ascott Star KLCC Kuala Lumpur is slated for completion by 2021 and is targeting to commence operation by July that year.