KUALA LUMPUR (Oct 1): Naza TTDI Sdn Bhd, the property arm of Naza Group, is partnering international lodging owner-operator Ascott Ltd for a 262-unit high-end serviced apartment building in KL Metropolis here, which has a gross development value (GDV) of RM333 million.
Naza TTDI in a press statement today said Somerset KL Metropolis — with design types offering built-up areas of 549 sq ft, 847 sq ft, and 968 sq ft — is part of the MET 1 integrated development in KL Metropolis, which is expected to play an important role as a key area of growth in the business tourism sector.
"We believe that this partnership will add value to the stakeholders of both companies, locally and internationally. We chose to work with Ascott due to the strength of their brand and services globally," said Naza TTDI deputy executive chairman cum group managing director SM Faliq SM Nasimuddin.
KL Metropolis is a 75.5-acre mixed-use development with a GDV of RM20 billion, comprising residences, hotels, retail, entertainment attractions and offices.
Naza TTDI said KL Metropolis is intended to be the most comprehensive meetings, incentives, conferencing and exhibitions destination in Kuala Lumpur, which will help enhance the country's position as the preferred business tourism destination in the region.
Its first commercial component constructed was Malaysia International Trade and Exhibition Centre (MITEC), currently the largest exhibition centre in Malaysia with the capacity of hosting 40,000 visitors per day.