Strategic Partnership Between SAG and COBNB to Unlock Investor Value at Astrum Ampang

28 July 2025

PETALING JAYA: Setia Awan Group (SAG) has announced a strategic collaboration with COBNB Malaysia, one of the country’s leading short-term rental operators, as the latest hospitality partner for Astrum Ampang.

Dato Sri Ahmad Azizi, Head of Corporate Strategy & Performance at Setia Awan Group, and Glenn Wong, Managing Director and Co-founder of COBNB Malaysia, were present at the signing of the Memorandum of Understanding at the Astrum Ampang Gallery on 28 July 2025.

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

Distinguishing itself from the conventional short-stay operator model, COBNB will make a financial commitment to underwrite and manage the duplex units, providing selected buyers with the option of immediate tenancy agreements.

"This partnership adds significant value for our buyers, particularly those seeking a rental-ready unit with a clear, operator-backed pathway to returns," said Dato Sri Ahmad Azizi, after signing the Memorandum of Understanding at the Astrum Ampang Gallery.

"It differentiates from our existing hospitality ecosystem and enhances the overall value proposition. It also reflects our confidence in Astrum Ampang’s potential as a solid investment. With a reputable and experienced operator like COBNB backing the project, the ready tenancy option further strengthens its appeal as one of Malaysia’s most investor-friendly transit-oriented developments," he added.

Tower M is directly connected to the Jelatek LRT station in Ampang, just 150 metres away, and is only minutes from Kuala Lumpur City Centre by train. Designed for mobile professionals, digital nomads, and international travellers, the duplex units are tailored for flexible living and are now complemented by integrated hospitality solutions.

COBNB’s confidence in Astrum Ampang highlights the strong demand for short-term stay options in close proximity to Kuala Lumpur’s city centre.

"We are excited to bring our hospitality expertise to a development like Astrum Ampang," said Glenn Wong.

"We believe this creates a win-win situation, buyers gain peace of mind and immediate rental pathways through us, while we expand quality short-term accommodation in a location with long-term growth potential. This aligns with our future-proofing strategy, leveraging Transit-Oriented Development (TOD) and urban hospitality collaborations."

As Malaysia’s international tourism sector continues to grow, the country overtook Thailand as Southeast Asia’s most visited destination in the first half of 2025, demand for accessible, well-connected accommodation is surging.

Transit-oriented developments such as Astrum Ampang are ideally positioned to meet this rising demand for short-term rentals, especially as national initiatives under the National Tourism Policy 2020-2030 and the Visit Malaysia 2026 campaign increasingly focus on smart, experiential stays.

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

Looking ahead, SAG and COBNB will collaborate on joint marketing and investor engagement initiatives, including webinars, international outreach, and physical knowledge-sharing events, aimed at raising awareness and attracting discerning buyers seeking strong investment fundamentals.