Setia Awan Group has appointed The Ascott Limited of Singapore to manage and operate Citadines Astrum Ampang Kuala Lumpur in the upcoming Astrum Ampang mixed development project, which is located near Jalan Jelatek and Jalan Ampang.
According to the developer, Ascott has signed a management and operations agreement with its subsidiary, Astrum Ampang Sdn Bhd, for the 230-unit serviced residence, which will open in 2026.
Citadines Astrum Ampang Kuala Lumpur will be located in Block M of Astrum Ampang, a landmark project with an RM1.6 billion gross development value (GDV).
Ng Teck Hua, executive director of Setia Awan Central Region, said that Ascott is a preferred partner for this venture.
He said it is a global lodging company with a proven track record and a solid reputation.
"We look forward to working closely with Ascott and leveraging both parties' expertise in catering to a new generation of patrons and residents," he said recently in a statement.
According to Ng, there is a healthy demand for short-term stays at hotels and serviced residences, particularly in properties like the Astrum Ampang development, located in the city centre and close to business centres and embassies.
Citadines Astrum Ampang Kuala Lumpur combines the convenience of a serviced residence with hotel-like amenities.
The serviced residences consist of studio and one-bedroom apartments with exclusive amenities such as a swimming pool, a gymnasium, a residents' lounge, meeting rooms, and food and beverage outlets.
There will also be a dedicated lobby with a drop-off area at the establishment.
Citadines Astrum Ampang Kuala Lumpur, according to Ng, is ideal for business and leisure guests with long- and short-term needs.
According to Mondi Mecja, Ascott's country general manager for Malaysia, Citadines Astrum Ampang Kuala Lumpur will strengthen Ascott's position as one of Malaysia's most significant international lodging owner-operators.
"Each apartment in our property is well-designed with separate living and dining areas, as well as a fully-equipped kitchen, alongside thoughtful services and facilities," he said.
Astrum Ampang also has residential units for sale, released in stages.
The development's recently launched phase 1 SoHo units have received an 80 percent take-up rate. The units have a built-up area of 280 square feet and a price tag of RM230,000.
Astrum Ampang is integrated with the progressive transit-oriented development (TOD) concept and is supported by TOD principles to provide an affordable living environment and a quality and sustainable lifestyle.