The Ascott Limited Secures its First Ascott-Branded Serviced Residence in Penang

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The Ascott Limited Secures its First Ascott-Branded Serviced Residence in Penang

CapitaLand’s wholly-owned lodging business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Ascott-branded serviced residence in Penang. Ascott was awarded the contract by Plenitude Berhad, a Bursa Malaysia-listed conglomerate, with core interests in property development, property investment and property management. The 250-unit Ascott Gurney Penang is scheduled to open in the last quarter of 2021.