Oakwood Premier Kuala Lumpur is scheduled to open in December 2024, next to Merdeka 118, the world's second-tallest structure that will reach almost 700 metres high next year.

It will have 348 serviced residences with one, two, and three bedrooms.

Merdeka 118 is an RM5 billion project being built in three phases on a 19-acre site in Kuala Lumpur's historical enclave.

The first phase of the project, which began in 2014, involved the construction of a 118-story tower, which overlooks two national historical landmarks, Stadium Merdeka and Stadium Negara, and a seven-story shopping mall.

The second and third phases consist of four luxury residential towers.

PNB Merdeka Ventures Sdn Bhd (PMVSB), a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB) is developing Merdeka 118.

PMVSB inked a management agreement today with Oakwood Premier Kuala Lumpur to offer premium hospitality serviced residences at one of the four residential towers.

PNB president and group chief executive Ahmad Zulqarnain Onn said in a statement the company is confident that the Oakwood Premier brand will increase the development's appeal.

Oakwood Premier is a market leader in premium residential services, and it is known for its comfort and convenience.

Ahmad Zulqarnain said Oakwood Premier Kuala Lumpur complements Merdeka 118's mix of components, creating a desirable place to work, live and socialise 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 said.

From a tourism standpoint, Merdeka 118, like its predecessors, Menara KL and the Petronas Twin Towers, will redefine Kuala Lumpur's skyline. The upper levels of Merdeka 118 will include the highest observation deck in South East Asia. It will also feature a sky lobby, restaurants, and breathtaking views of Kuala Lumpur.

Oakwood Premier Kuala Lumpur will be the brand's second property in the city, following Oakwood Hotel & Residence Kuala Lumpur, located on Jalan Ampang, offering 251 elegantly furnished hotel rooms and serviced apartments.

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.

Oakwood chief executive officer Dean Schreiber said Oakwood Premier will deliver its distinctive brand of residential lifestyle for discerning guests who seek indulgence and style without compromising on hospitality excellence in Kuala Lumpur's most prestigious new development.