Ascott Deepens Presence In Chengdu With First Citadines
Citadines South Chengdu is Ascott’s 10th Citadines-branded serviced residence in China
CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Citadines-branded serviced residence in Chengdu. The 177-unit Citadines South Chengdu, which is slated to open in 2014, strengthens Ascott's leadership position as the largest international serviced residence owner-operator in China with about 8,000 apartment units in 43 properties across 17 cities.
Mr Lee Chee Koon, Ascott's Deputy Chief Executive Officer and Managing Director for North Asia, said: "Chengdu has strong growth opportunities for serviced residences. Its economy grew by more than 13% for the first half of 2012 over the same period last year. In Central and Western China, Chengdu has been ranked the top city with the most Fortune 500 companies. Chengdu is also a popular tourist destination and venue for exhibitions and conferences."
Mr Lee added: "Citadines offers guests the flexibility to choose the services they require and we currently have about 70 Citadines-branded serviced residences in Asia Pacific and Europe. In China, besides Citadines South Chengdu, we have nine other Citadines-branded properties in cities such as Shanghai, Hong Kong, Suzhou and Xi'an. By bringing Citadines to Chengdu, expatriates, project teams and travellers will have more choices as they can choose from our three award-winning brands of serviced residences to suit their lifestyle needs."
About Citadines South Chengdu
Citadines South Chengdu is strategically located in Chengdu's Hi-tech District at the junction of Tianfu Street and Tianfu South Road. The serviced residence is part of the Chengdu ICON Genesis Plaza, a mixed development comprising office towers, restaurants and retail outlets. Citadines South Chengdu is also surrounded by numerous Grade A office towers which house several multinational corporations including Nokia Siemens, Symantec, Maersk, Manulife Financial, Cisco, SAP, GE and IBM. Many facilities, attractions and shopping malls such as the Chengdu International Exhibition & Convention Center, Chengdu Ocean Park, Chengdu Opera House, GTC Shopping Center and Ito-Yokado Shopping Mall are located nearby.
Residents will enjoy easy access to various destinations in the city as Citadines South Chengdu is right next to the Science and Technology Zone Metro Station. In addition, the Shuangliu International Airport and Chengdu North Railway Station are within a 30-minute drive from the property.
Citadines South Chengdu offers a range of studios to two-bedroom apartments that come with a fully-equipped kitchen and separate work and sleeping areas. Facilities at the serviced residence include a gymnasium, sauna, roof garden, breakfast lounge, children's indoor play area and meeting rooms.
About The Ascott Limited
Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.
Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.
A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.
For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.
About CapitaLand Investment Limited
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.
CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.
As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
Visit http://www.capitalandinvest.com/ for more information.