ReleaseWire Connect

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has clinched contracts to manage two properties in Foshan and Hong Kong SAR. The latest additions further strengthen Ascott’s leadership position as the largest international serviced residence owner-operator in China with over 7,000 apartment units in 40 properties across 17 cities. The 186-unit premier Ascott M-City Foshan, which is Ascott’s first serviced residence in Foshan, is slated to open in 2016. The 71-unit Somerset Victoria Park Hongkong will be Ascott’s second serviced residence in Hong Kong when it opens in 2013. Ascott currently owns and operates Citadines Ashley Hongkong which is located in the bustling Tsim Sha Tsui district.

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has opened its third Citadines serviced residence in Xi’an. The new 138-unit Citadines Xingqing Palace Xi’an (http://www.citadines.com/china/xian/citadines_xian_xingqing_palace.html) strengthens Ascott’s leadership position as the largest international serviced residence owner-operator in Xi’an and in China. Ascott currently also operates Citadines Central Xi’an (http://www.citadines.com/china/xian/central.html) (162 units) and Citadines Gaoxin Xi’an (http://www.citadines.com/china/xian/gaoxin.html) (251 units) while Somerset Gaoxin Xi’an (233 units) is expected to open in 2013. All four properties are in prime locations in the Hi-Tech Development Zone or the business district of Xi’an and are close to many tourist spots. In China, Ascott has about 7,000 apartment units in 38 properties across 16 cities.

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has launched a specially designed Facebook application, ‘Around our Residences’. The new application provides expatriates and travellers with local insights to help them navigate the city during their stay at any of Ascott’s serviced residences.

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has expanded into a new country, Oman, by securing a management contract for a 220-unit serviced residence in Muscat, Oman’s capital. To be named Somerset Panorama Muscat (http://www.somerset.com/ko/oman/musca/somerset_panorama_muscat.html), the serviced residence is scheduled to open in 2014.

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has clinched contracts to manage two more properties in Chengdu and Beijing. The 181-unit Ascott Financial City Chengdu, which is the first premier Ascott-branded serviced residence in Chengdu, is slated to open in 2014. The 187-unit Somerset Wangjing Beijing, which is the first international brand of serviced residence in Beijing’s thriving Wangjing business area, is scheduled to open in 2013.