The Ascott Limited (Ascott), a wholly-owned lodging business unit of CapitaLand, was recently awarded a contract by Plenitude Berhad, a public-listed company with core interests in property development, property investment and property management, to manage the first Ascott-branded serviced residence in Penang.
Ascott Gurney Penang scheduled to open its doors in the last quarter of 2021 is a 37 storeys with 250 luxury residence apartment units located along the Gurney drive promenade in the UNESCO-World-Cultural-Heritage-Site Georgetown, Penang.
The location being one of the most popular tourist destinations is walking distance away from iconic city landmarks, business centres and major shopping destinations including CapitaLand’s Gurney Plaza mall and also a food haven with a wide-array of hawkers’ delights.
Madam Elsie Chua, Chairman of Plenitude Berhad, said “We are proud to award the management of one of our distinguished projects to Ascott, one of the leading international lodging owner-operators. Given its prominent location in one of Penang’s most vibrant and dynamic communities in Georgetown, we hope that Ascott Gurney Penang will create an iconic hospitality landmark.
Plenitude Berhad has long been a trusted name in the region’s property development market, and our partnership with Ascott on this project will allow us to further expand our presence in the fast-growing hospitality segment.”
“We are very pleased to be chosen by Plenitude Berhad to manage their property in Penang. Besides its 20 years of experience in real estate and property development, Plenitude also owns a strong diverse portfolio in the hospitality industry,” said Mr Ervin Yeo, Ascott’s Regional General Manager for Singapore, Malaysia & Indonesia and VP Strategic Planning.
With a strong presence in major Malaysian cities, it is the perfect opportunity to bring the Ascott pinnacle brand to Penang. Ascott Gurney Penang is conceptualised and designed with today’s modern travellers in mind. Guests can expect quality hospitality experience in one of the most well-known cities in Malaysia.
As Ascott Gurney Penang is tastefully and exquisitely designed by award-winning Interior Designer, Kian Liew, guests will get to enjoy sensational hospitality of luxury and comfort during their stay.
“This project is in line with Ascott’s strategy of locating its properties in prime city areas, allowing our guests to enjoy greater convenience and easy accessibility,” Yeo added.
2019 marks Ascott’s 20th anniversary in Malaysia. Ascott is the largest serviced residence owner-operator and with the addition of Ascott Gurney Penang, it will have a total of more than 5,000 serviced apartment units across 25 properties in the country.
In 2020, Ascott expects to open three new properties namely Ascott Star KLCC and lyf Raja Chulan in Kuala Lumpur as well as Juru Residences in Prai, Penang.