Exsim, LYY collaborate on serviced apartment project in Ipoh

EXSIM Hospitality Bhd (EHB) has signed a memorandum of understanding (MoU) with Exsim Ipoh City Sdn Bhd, and at the same time, Exsim Group entered into a joint venture agreement (JVA) with Liew Yin Yin Land Sdn Bhd (LYY) for the development of a 1.291-acre site in Ipoh, Perak.

The development will feature 420 serviced apartments and four retail units, with flexible layouts ranging from 484 sq ft to 904 sq ft, including a dual key type.

Although EHB is not part of the JVA, the company will manage the hospitality operations of the project through its brand, Mana Mana Hospitality (MMH), once the development is completed.

MMH will offer short-term rental services in line with EHB’s strategy to expand its footprint in the hospitality sector.

This collaboration aims to address the growing demand for premium accommodations in Ipoh, which has seen significant tourism growth, attracting 8.4 million visitors in 2024.

The project is expected to contribute to Ipoh’s development as a key hub for tourism and business.

“This MoU represents another significant step for EHB, as we solidify our presence in the hospitality sector. By aligning with Exsim, we aim to bring sustainable and innovative solutions to the market, catering to the growing demand for premium accommodations and enhancing value for all stakeholders,” EHB ED Paramjit Singh said in a statement. –TMR