KUALA LUMPUR: Property developer, Alpine Return Sdn Bhd, and Singapore-based serviced residence operator, The Ascott Ltd, have jointly launched the 58-storey Ascott Star KLCC with a gross development value of RM1 billion.
Alpine Chief Operating Officer, Alan Koh, said the Ascott Star KLCC, formerly known as Star Residences Tower Three, was part of the company’s start development project, comprising mixed residential and retail units.
“To-date, Star Residences Tower One and Tower Two have achieved a 100 per cent and 90 per cent sales rates respectively,” he told reporters after the signing ceremony and the launch of the Ascott Star KLCC here today.
He said Alpine was optimistic on the take-up rate for Ascott Star KLCC based on the brisk sales for both Tower One and Tower Two.
“At the moment, our key markets include China, Hong Kong, South Korea and Japan and we have received 100 sales enquiries from overseas,” he said.
Meanwhile, Koh said, under the agreement, The Ascott has been appointed to manage 353 units of the project for 10 years.
“This partnership will bring great value for property owners looking for rent income with an assurance of professionally-managed services for guests,” he said.
Ascott Star KLCC comprises 471 fully-fitted units from 700 sq ft (one bedroom) to 2,972 sq ft (four bedrooms) serviced apartments.
“The demand for serviced apartments in Kuala Lumpur is rising, especially with more local and foreign corporate travellers looking to stay for extended period,” he said, adding price per unit was from RM1.6 million onwards.
Koh said the project was expected for completion by mid-2021 and operations should commence by July 2021.