Oakwood Premier to Make Kuala Lumpur Debut
Main Photo: The new Oakwood Kuala Lumpur
Date: November 2021
Name: Oakwood Premier Kuala Lumpur – opening December 2024
Location: Merdeka 118 Precinct, Kuala Lumpur, Malaysia
Number of Keys: 348
Seller: TBA
Buyer: PNB Merdeka Ventures
Oakwood has signed a management agreement with PNB Merdeka Ventures, to debut the Oakwood Premier brand at the Merdeka 118 precinct. The 118-storey landmark development is set to redefine Kuala Lumpur’s skyline, and will be the world’s second tallest building, reaching 644 metres upon completion.
Oakwood Premier Kuala Lumpur will occupy one of the residential towers within the Merdeka 118 development, featuring 348 serviced residences with one-, two- and three-bedroom categories.
“In Kuala Lumpur’s most prestigious new development, Oakwood Premier will deliver our distinctive brand of residential lifestyle for discerning guests who seek indulgence and style without compromising on hospitality excellence,” said Dean Schreiber, chief executive officer of Oakwood. “Our inaugural partnership with PNB sets a new benchmark at the pinnacle of luxurious living for guests in Malaysia’s capital.”
Proposed facilities include an all-day dining restaurant/bar, executive club lounge, residents’ lounge, meeting facilities, fitness centre, swimming pool and children’s playroom.
Scheduled to open in December 2024, Oakwood Premier Kuala Lumpur will be the group’s second property in the city, following Oakwood Hotel & Residence Kuala Lumpur. It joins a portfolio of Oakwood Premier properties in Bangalore, Guangzhou, Hangzhou, Incheon, Jakarta, Melbourne, Phnom Penh, Singapore, Seoul and Tokyo with more in the pipeline.
“Oakwood Premier is a leader in premium residential services and with this comes its signature hallmark of comfort and convenience. PNB is confident that the Oakwood Premier brand will enhance the appeal of the Merdeka 118 development,” said Ahmad Zulqarnain Onn, president and group chief executive of PNB group. Oakwood Premier Kuala Lumpur complements Merdeka 118’s mix of components, creating a desirable place to work, live and socialise in with fully activated, well thought out spaces for our visiting guests and resident community. We are delighted to welcome this celebrated brand of premium serviced residences to the Merdeka 118 precinct family.”
The Merdeka 118 tower will be the first tower in Malaysia to achieve both local and international triple green platinum accreditations, namely the Green Building Index (GBI), Green Real Estate (GreenRE) and Leadership in Energy and Environmental Design (LEED)
Oakwood Worldwide was acquired by Singapore’s Mapletree Investments PTE in February 2017. At the time there were nine Mapletree properties operated by Oakwood (in the US and Australia), and Mapletree were developing three serviced apartment properties in Japan and Vietnam as well as one other asset under development in the US, which are also managed by Oakwood Worldwide.
Price: Undisclosed
THPT Comment: As part of Kuala Lumpur’s most prestigious development project, Merdeka 118 is set to become the world’s second tallest and Southeast Asia’s tallest building.
First Seen: Serviced Apartment News
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