Ascott eyes nearly 4,700 units in Malaysia by 2023
Up from about 1,700 units across eight properties now, the 4,692 serviced residences will be at 19 residences
Kuala Lumpur
WITH demand from corporate and leisure travellers for serviced residences growing in Malaysia, where the average occupancy of managed apartments is more than 70 per cent, The Ascott Limited plans to add an average of 500 units a year to its portfolio there over the next six years.
By 2023, the Singapore serviced residence operator's Malaysia portfolio will increase to 4,692 units across 19 residences from about 1,700 units across eight properties at present, said its regional general manager for Singapore and Malaysia, Ervin Yeo, on Tuesday.
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