PNB Merdeka Ventures Sdn Bhd (PMVSB), a wholly owned subsidiary of Permodalan Nasional Berhad (PNB), has partnered with Oakwood Premier Kuala Lumpur to introduce an Oakwood Premier-branded residential tower to Kuala Lumpur’s iconic Merdeka 118 precinct in 2024.

In a media statement today, PMVSB said it has inked a management agreement with Oakwood Premier Kuala Lumpur.

The Merdeka 118 tower stands adjacent to Stadium Merdeka, Malaysia’s historically significant landmark. The 118-storey tower is set to become the world’s second and Southeast Asia’s tallest building at a height of at least 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.

PNB’s president and group chief executive Ahmad Zulqarnain Onn said 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.

“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,” he added.

Scheduled to open in December 2024, Oakwood Premier Kuala Lumpur will be the brand’s second property in the city, following Oakwood Hotel & Residence Kuala Lumpur. It joins a rapidly expanding portfolio of Oakwood Premier properties in Bangalore, Guangzhou, Hangzhou, Incheon, Jakarta, Melbourne, Phnom Penh, Singapore, Seoul and Tokyo with more in the pipeline.

“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 comfortable living for guests in Malaysia’s capital,” he added.

Source: EdgeProp/EDGEPROP.MY, Nov 3, 2021