Penang, Malaysia, 21 October 2024 – Malaysian developer Instant Icon Sdn. Bhd. is partnering with The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), to launch the first branded residence under Ascott’s flagship namesake brand known for its sophisticated approach to luxury living and celebration of the fine arts.
Named Ascott Residences Batu Ferringhi Penang, the greenfield development will feature 99 exclusive residences for sale that embody elegance and artistic flair.
It is set to break new ground in Penang’s luxury living market, with a strong focus on owner occupation.
Strategically located along the picturesque coastline between the prestigious residential area of Tanjung Bungah and the popular resort destination of Batu Ferringhi, Ascott Residences Batu Ferringhi Penang offers unblocked sea views with direct beach access.
Set to welcome residents from January 2028, this property will feature a diverse selection of spacious living options, ranging from 2,000 to 4,000 square feet, along with a stunning penthouse that exceeds 8,000 square feet.
Catering primarily to discerning owners-occupiers looking for luxury holiday or retirement homes in a prime beachfront location, Ascott Residences Batu Ferringhi Penang provides an unparalleled lifestyle experience that blends tranquil seaside views with refined living.
In addition to a dedicated concierge desk that offers personalised services, residents can enjoy an exceptional array of premium facilities and amenities tailored for relaxation and socialising.
These include a swimming pool, a well-equipped gym and a resident’s lounge, among others.
Executives from Instant Icon Sdn. Bhd. and The Ascott Limited at the signing ceremony for Ascott Residences Batu Ferringhi Penang, marking a new milestone in luxury living in Penang.
A Growing Partnership
Dato Yeoh Yih Sean, Group Managing Director of Instant Icon Sdn. Bhd., said, “We are delighted to continue our fruitful partnership with Ascott in Malaysia. Following the success of lyf Georgetown Penang, the first lyf property on the island, we are excited to introduce another first, a new branded residence under the prestigious Ascott brand.
This innovative addition will enhance Penang’s luxury living landscape and meet the growing demand for premium accommodations.
Our collaboration with Ascott reflects our shared commitment to delivering exceptional stay experiences.
We believe this new branded residence will strengthen our presence in Penang’s vibrant hospitality market, resonating with both residents and travellers.
As we explore further growth opportunities, we remain dedicated to providing high-quality, diverse living options that cater to modern lifestyles,” he added.
Ms Sophie Mougel, Vice President, Strategy and Regional General Manager, Philippines & Malaysia, Ascott, said, “This marks our second collaboration with Instant Icon Sdn. Bhd., following lyf Georgetown Penang which introduced the lyf brand’s signature experience-led social living concept to the island.
We are grateful for our owner’s continued trust in us and are confident that the exceptional location and design of Ascott Residences Batu Ferringhi Penang will further elevate the Ascott brand in the space of luxury living.
Ascott has been steadily expanding in Malaysia for the past 25 years through an asset-light approach and is now present in 12 cities.
Our largest footprint is in Penang, where we operate 11 properties and have four more in the pipeline, including Ascott Residences Batu Ferringhi Penang.
We are excited to enhance our portfolio with this premium branded residence in Penang, reflecting Ascott’s commitment to offering a diverse range of high-quality accommodations tailored to various stay purposes, in line with our flex-hybrid hotel-in-residence business model,” she added.
Ascott Residences Batu Ferringhi Penang is slated to begin sale on the second half of 2025.
