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The Ascott Limited to Manage Somerset Puteri Harbour

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– Stylish waterfront serviced residence at Puteri Harbour, Nusajaya
– A Joint Venture development of UMLand Bhd and UEM Land Berhad

Tan Boon Khai, Regional General Manager of The Ascott Limited for Singapore and Malaysia; Dato’ Wan Abdullah Wan Ibrahim, Managing Director/Chief Executive Officer of UEM Land Holdings Bhd and Pee Tong Lim, UM Land’s Group CEO.

Nusajaya Consolidated Sdn Bhd (“NCSB”) today entered into two agreements with The Ascott Limited (“Ascott”) for Ascott to provide technical advisory services as well as manage and operate 204 units of service residences to be known as “Somerset Puteri Harbour” in Nusajaya.

The Somerset Puteri Harbour, a stylish waterfront serviced residence located in the enclave of Puteri Harbour, one of the catalyst developments within Nusajaya, Iskandar Malaysia will be launched next month. The project will be developed by NCSB, which is a 50:50 joint venture between United Malayan Land Bhd (“UMLand”) and UEM Land Berhad (“UEM Land”), a wholly owned subsidiary of UEM Land Holdings Berhad.

Under the Technical Advisory Agreement, Ascott will provide technical advisory services to NCSB during the development of Somerset Puteri Harbour while pursuant to the Serviced Residence Management Agreement which was also signed by NCSB’s subsidiary Clear Dynamic Sdn Bhd, Ascott will manage and operate the serviced residences on behalf of NCSB upon its expected completion in 2013.

Both agreements were signed by NCSB’s Director, Mr. Pee Tong Lim who is also UMLand’s Group CEO and witnessed by Dato’ Wan Abdullah Wan Ibrahim, who is also NCSB’s Director and Managing Director/Chief Executive Officer of UEM Land Holdings Berhad. Ascott was represented by its Regional General Manager for Singapore and Malaysia, Mr. Tan Boon Khai. En Zulkifly Garib, Director of Operations of UMLand represented Clear Dynamic Sdn Bhd in the Serviced Residence Management Agreement signing.

Mr. Pee Tong Lim said: “We are honored to have Ascott on board to manage Somerset Puteri Harbour. With its solid reputation and global marketing network, we strongly believe that this collaboration will be a win-win for all parties”.

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.

“We are positive that this strategic alliance with Ascott will be beneficial to the Somerset Puteri Harbour project in realizing the vision to position Puteri Harbour as the premier waterfront destination of Iskandar Malaysia and its surrounding regions,” said Dato’ Wan Abdullah.

Somerset Puteri Harbour will be a 4-storey serviced residence strategically located at the Puteri Harbour integrated waterfront and marina development in Nusajaya. Nusajaya is the flagship zone of Johor’s Iskandar Malaysia and is home to signature developments such as EduCity which houses several world-class university campuses, Medini which encompasses business and leisure districts, the Southern Industrial and Logistics Clusters and Afiat Healthpark. Somerset Puteri Harbour is within walking distance to Kota Iskandar, the Johor State’s new administrative centre. It is a 20-minute drive from the Malaysia-Singapore Second Link and 25 minutes away from Johor’s Senai International Airport. It is also easily accessible via the soon to be opened coastal highway which links Nusajaya to the main Johor city centre and the Johor-Singapore Causeway .Travelers can enjoy excellent connectivity to other parts of the Iskandar Development Region via the water transport terminal, bus terminal and light rail transit station situated in the property’s vicinity.

Somerset Puteri Harbour is near quayside lifestyle stores, fine dining restaurants, alfresco cafés and an indoor theme park featuring popular children’s characters such as Hello Kitty, Thomas and Friends, Barney and Bob the Builder. Furthermore, it is just 10 minutes away from the first Legoland theme park in Asia which will open in 2012.

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.