Tuesday, October 25, 2011

Ascott to manage UEM Land JV's Somerset Puteri Harbour

KUALA LUMPUR: The Ascott Ltd will manage and operate 204 units of service residences, to be known as Somerset Puteri Harbour, in Nusajaya, Iskandar Malaysia under an agreement with Nusajaya Consolidated Sdn Bhd.

Nusajaya Consolidated, a 50:50 joint venture between UEM Land Bhd and UNITED MALAYAN LAND BHD [], had on Tuesday, Oct 25 signed two agreements with Ascott.

UEM Land said under the technical advisory agreement, Ascott will provide technical advisory services to Nusajaya Consolidated during the development of Somerset Puteri Harbour.

Under the serviced residence management agreement, Ascott will manage and operate the serviced residences on behalf of Nusajaya Consolidated when ''completed in 2013.

Somerset Puteri Harbour will be a four-storey serviced residence at the Puteri Harbour integrated waterfront and marina development in Nusajaya.

The serviced residence offers spacious apartments ranging from studios to three-bedroom units that come fully furnished with modern amenities. With facilities such as a gymnasium, swimming pool, restaurant and residents' lounge available in the property, Somerset Puteri Harbour provides the ideal home away from home for residents to live, work and play.

UEM Land as the master developer of Nusajaya has set a target for the regional city to come alive by 2012.

To achieve this, it has adopted a strategy to partner several property developers to transform Nusajaya into a world class sustainable city that offers holistic and integrated lifestyle, with immense potential growth for investors.

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