Friday, July 20, 2012

Ascott clinches another China property deal

Ascott Limited (Ascott), the wholly-owned serviced residence unit of CapitaLand, has inked a deal to manage Ascott Raffles City Chengdu (pictured).

Scheduled to open in 2013, Ascott Raffles City Chengdu comprises 296 luxury apartments ranging from one- to three-bedroom units and studios.

Residents will enjoy a range of facilities including an indoor swimming pool, sauna, reading lounge, spa, gymnasium, children’s play area and restaurants. There will also be a business centre and meeting rooms for corporate travellers.

Ascott also recently secured contracts for Citadines Jinshang Road Xiamen and Somerset Wusheng Wuhan making it the largest international serviced residence owner-operator in China, boasting around 7,800 apartments in 42 properties across 17 cities.

“Besides expanding in the gateway cities such as Beijing and Shanghai, we also see tremendous potential in China’s high growth cities such as Chengdu, Wuhan and Xiamen,” said Lee Chee Koon, Deputy Chief Executive Officer and Managing Director for North Asia at Ascott.

Lee added that Chinese cities remain attractive for both local and multinational corporations because of strong infrastructure and rapid urbanisation. Hence, strengthening the company’s foothold in these cities will help cater to the “growing demand for quality accommodation from both international and domestic travellers”.

“When Ascott Raffles City Chengdu opens next year, it will offer our guests another first class experience with a world of conveniences like shopping and dining right at their doorstep.”

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