By Ascott International Management on November 29, 2019


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.

Standing at 37 storeys, the 250-unit Ascott Gurney Penang is located along the Gurney drive promenade in the UNESCO-World-Cultural-Heritage-Site Georgetown, one of the best-known tourist destinations in Penang. It is part and parcel of Penang’s urban lifestyle district and only minutes away from iconic city landmarks, business centres and major shopping destinations including CapitaLand’s Gurney Plaza mall. The Georgetown seafront promenade is also home to a wide-array of hawkers’ delights and exciting culinary havens.

Guests can look forward to hospitable sensorial and visual experiences at Ascott Gurney Penang which will be exquisitely designed by award-winning Interior Designer – Kian Liew, featuring 250 luxury studio apartments and two-bedroom apartments with fully furnished kitchenettes, built-in washers and dryers, averaging 57 sqm in size. Complementing the elegant rooms will be an all-day-dining restaurant, as well as business and recreational facilities which include banquet facilities, meeting rooms, infinity swimming pool, gymnasium & sauna, residents’ lounge, kids club, kids wet park and dedicated outdoor barbeque areas. The property also comprises retail components and office units.


The serviced residence management agreement was signed by Madam Elsie Chua, Chairman of Plenitude Berhad, and Mr Ervin Yeo, Ascott’s Regional General Manager for Singapore, Malaysia & Indonesia and VP Strategic Planning. Also present at the signing ceremony were Ms Hashimah Ismail, Director of Plenitude International, and Mr Mondi Mecja, Country General Manager of Ascott International Management Malaysia.

“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 has a strong presence in key Malaysian cities and has been waiting for the right opportunity to bring our flagship Ascott brand to Penang. Ascott Gurney Penang will be conceptualised and designed with today’s modern travellers in mind and will offer guests a quality hospitality experience in one of the most hospitable cities in Malaysia. 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”.

Madam Elsie Chua 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.”

2019 marks Ascott’s 20th anniversary in Malaysia, where it is the largest serviced residence owner-operator. With the addition of Ascott Gurney Penang, Ascott 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.



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