Ascott has signed a conditional agreement to purchase a 208-unit serviced residence in the heart of Kuala Lumpur’s ‘Golden Triangle’, the business, shopping and entertainment district marked by Jalan Ampang, Jalan Sultan Ismail and Jalan Bukit Bintang.

The property, to be named Somerset Ampang and purchased at a price of RM112.5 million (S$47.5 million), is Ascott’s sixth property in Malaysia. When it opens in the first half of 2010, Somerset Ampang will be part of a 23-storey integrated development which will house one of Malaysia’s leading medical, heart and diagnostic centre.

The Ampang area where the property is located is a popular residential district among expatriates. Somerset Ampang will feature comprehensive facilities including a swimming pool, gymnasium and children’s playground.