GEORGETOWN: Singaporean real estate and lodging company The Ascott Ltd is partnering with Malaysian developer Instant Icon Sdn Bhd to develop Ascott Residences Batu Ferringhi, which is set to welcome residents from January 2028 onwards.
Ascott country general manager for Malaysia Mondi Mecja said the greenfield development will feature 99 residences for sale and the project is expected to break new ground in Penang's luxury living market, with a strong focus on owner occupation.
"We are enhancing 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.
"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," he told reporters after the project signing ceremony between Ascott and Instant Icon here today.
Mecja said the development will feature a diverse selection of spacious living options, ranging from 2,000 to 4,000 square feet (sq ft), along with a more than 8,000 sq ft penthouse.
He also said that Ascott Residences Batu Ferringhi Penang blends tranquil seaside views with refined living, catering primarily to discerning owners-occupiers looking for luxury holidays or retirement homes in a prime beachfront location.
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, and this marks our second collaboration with Instant Icon, 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," Mecja said.
Ascott has been steadily expanding in Malaysia for the past 25 years through an asset-light approach and is now present in 12 cities.
It has the most foothold in Penang, where it operates 11 properties and has four more in the pipeline, including Ascott Residences Batu Ferringhi Penang.
Instant Icon group managing director Datuk Yeoh Yih Sean said this innovative addition will enhance Penang's luxury living landscape and meet the growing demand for premium accommodations.
"We are delighted to continue our partnership with Ascott 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," he said.
Yeoh said the collaboration with Ascott reflects a shared commitment to delivering exceptional stay experiences and this new branded residence will strengthen its presence in Penang's vibrant hospitality market.
He added that the company will explore further growth opportunities and remain dedicated to providing high-quality, diverse living options that cater to modern lifestyles.
The Ascott is a wholly owned business unit of global real asset manager CapitaLand Investment Ltd.