The Marriott Executive Apartments Kuala Lumpur will open in 2024.
It will have 352 exclusive studios and up to three-bedroom apartment units to meet the long-term lodging needs of corporate travellers.
The 41-story building at the intersection of Jalan Kia Peng and Jalan Stonor in Kuala Lumpur's city centre is owned by Hap Seng Consolidated Bhd.
The company signed a deal with Marriott International on Thursday to bring the first Marriott Executive Apartments to Kuala Lumpur.
Andree Susilo, senior director of Asia-Pacific hotel development at Marriott International, said that the agreement demonstrates the hotel group's long-term commitment to expanding its presence in Malaysia.
Meanwhile, Hap Seng Consolidated chairman Thomas Karl Rapp expressed enthusiasm for the addition of another exciting project to the company's growing hospitality portfolio in Malaysia.
It was reported in January that the company plans to enter the hospitality sector and build up to five hotels in Malaysia over the next few years.
In addition to the Marriott Executive Apartments Kuala Lumpur, it plans to build a hotel in KL Metropolis and on Jalan Sultan Ismail, where it has acquired the Wisma KFC building from Singapore-based Royal Group through its wholly-owned subsidiary Hap Seng Land Sdn Bhd.
Two hotels will be built in Sabah.
Four of the hotels will be managed by Hyatt, while one will be operated under the Marriott brand, according to David Khor, Hap Seng Consolidated's chief operating officer.