Introducing a tenancy-backed model for ready rental income

PETALING JAYA, Malaysia, July 28, 2025 /PRNewswire/ — Setia Awan Group (SAG) has entered into a strategic collaboration with COBNB Malaysia, one of the country’s leading short-term rental operators, as the latest hospitality partner for Astrum Ampang.

COBNB will now serve as one of two key property management operators for Astrum Ampang, specifically focusing on the duplex units in Tower M — the final and most anticipated block of its flagship Transit-Oriented Development (TOD) in Kuala Lumpur.

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Setting itself apart from the conventional short-stay operator model, COBNB is stepping in with the financial commitment to underwrite and operate the duplex units under their purview, offering the option of immediate tenancy contracts to selected buyers.

“This partnership offers an added value proposition for our purchasers, particularly those seeking a rental-ready unit with a clear, operator-backed pathway to returns,” said Dato Sri Ahmad Azizi, Head of Corporate Strategy & Performance at SAG, after the signing of the memorandum of understanding between parties at the Astrum Ampang Gallery.

“It differentiates from our current hospitality ecosystem already in place and brings additional value. It also speaks of the confidence in Astrum Ampang’s potential as an investment. Backed by a credible and experienced operator like COBNB, the ready tenancy option strengthens the project’s position as one of Malaysia’s most investor-friendly transit-oriented developments,” he adds.

Tower M is linked directly to the Jelatek LRT station in Ampang 150 metres away, which in turn is just minutes away from KL City Centre by train. Designed for mobile professionals, digital nomads, and international travellers, the duplex units were designed with flexible living in mind, now further elevated with built-in hospitality solutions.

COBNB’s capital confidence towards Astrum Ampang recognises the robust demand for short-term stay options in close proximity to KL City Centre.

“We’re excited to bring our hospitality expertise to a development like Astrum Ampang,” said Glenn Wong, Managing Director and Co-Founder of COBNB Malaysia.

“We believe we are creating a win-win scenario — buyers enjoy peace of mind and immediate rental pathways through us, while we scale quality short-term stays in a location with long-term potential. This is part of our future-proofing plans that leverages on TOD and urban hospitality collaborations.”

As Malaysia’s international tourism sees a healthy growth — the country overtook Thailand as Southeast Asia’s most visited country in the first half of 2025 — demand for accessible, well-connected accommodations are surging.

Transit‑oriented developments like Astrum Ampang are ideally positioned to meet the demand for short-term rentals, especially as national priorities under the National Tourism Policy 2020-2030 and Visit Malaysia 2026 campaign increasingly emphasise smart, experiential stays.

The ready tenancy option will be extended to buyers introduced via COBNB’s client network and selected internal sales channels — reinforcing the partnership’s focus on delivering fully-managed, short-term rental-ready units to a targeted investor audience.

Moving forward, SAG and COBNB will undertake joint marketing and investor engagement initiatives, including webinars, international outreach, and physical knowledge-sharing events — all designed to expand awareness and attract discerning buyers seeking strong investment fundamentals.

For more information on Astrum Ampang, please visit AstrumAmpang.com.my.

About Astrum Ampang

Astrum Ampang is a Transit-Oriented Development (TOD) located just 4km from Kuala Lumpur City Centre (KLCC). Designed as an urban residential hub, the 6.85-acre mixed development has a gross development value of approximately RM1.6bil and offers seamless connectivity via major highways such as AKLEH, DUKE 1, MRR2, and SPE, plus a planned covered pedestrian bridge connecting to the Jelatek LRT station. Featuring a variety of residential offerings—including SOHO Transit (studio units), SOHO Suites and Serviced Residence—Astrum Ampang provides an affordable lifestyle within a vibrant, self-sustaining community. With 62 exclusive facilities, including smart gyms, swimming pools, an outdoor theatre, and commercial outlets, it redefines city living with convenience and accessibility. Astrum Ampang has a take up rate of 95% to date. Visit www.astrumampang.com for more information.

About Setia Awan

Setia Awan Group is an established property developer in Malaysia with over 30 years of experience in the industry and beyond, with presence across both Peninsular and East Malaysia and a diversified portfolio of businesses. Our ethos is that dream homes can be practical yet affordable, able to meet the ever-evolving expectations of lifestyle and home living. Setia Awan is dedicated to being an accountable, transparent, excellent, and caring builder — values we are committed to embody in our customer approach and in the crafting of our properties in Kuala Lumpur, Selangor, Melaka, Perak, Negeri Sembilan and more. With a clear and strategic direction for growth, we are excited to continue establishing ourselves as a reputable and trusted developer for all of Malaysia. Visit www.setiaawan.com for more information.

About COBNB Malaysia

COBNB is one of Malaysia’s largest premium short-term rental operators, managing over 1,000 individual properties across the country. Focused on quality, compliance, and automation, COBNB helps asset owners unlock higher yields through expertly curated short-term stays on platforms such as Airbnb and Booking.com. Visit www.cobnb.com.my for more information.

SOURCE Setia Awan Group