Ascott To Launch Its First Somerset Serviced Residence In Gurgaon
Expands footprint in India to eight properties across five cities
Mr Tony Soh, Ascott's Chief Corporate Officer who oversees the company's business in India, said: "We see strong growth potential for Ascott in India. By bringing our Somerset brand to Gurgaon through our partnership with Puri Constructions, Ascott's footprint in India will increase to over 1,400 apartment units in eight serviced residences across five cities. Our strategy for India is to expand in high-growth cities where there is significant demand for international-class serviced residences from expatriates, project teams and business travellers. Gurgaon is a fast-developing city where a large number of manufacturing, IT and construction companies are based. We are confident that our Somerset brand will do well in Gurgaon."
Mr Soh added: "To further expand Ascott's network in India, we will continue to seek opportunities for investments, management contracts, leases or franchise agreements. Besides Ahmedabad, Bangalore, Chennai, Hyderabad and Gurgaon where we have presence, we are also seeking opportunities in key business cities including Mumbai, New Delhi and Pune."
Mr Arjun Puri, Director of Puri Constructions, said: "Puri Constructions is delighted to have The Ascott Limited manage our first serviced residence at Diplomatic Greens. Ascott's service excellence is world renowned. Hence, it is undoubtedly the perfect match for Puri Constructions, which has built its reputation on providing uncompromising quality. Located within a 30-minute drive from the international airport at New Delhi, Somerset Diplomatic Greens Gurgaon shall be the closest serviced residence from the airport."
About Somerset Diplomatic Greens Gurgaon
Strategically located next to Dwarka Expressway, Somerset Diplomatic Greens Gurgaon is nestled in the middle of about seven acres of expansive green landscaping, right in the heart of Gurgaon. The serviced residence will be located next to the retail zone and entertainment hub within the Diplomatic Greens development. Diplomatic Greens is a 20-acre residential area within an 82-acre integrated development that includes retail and commercial spaces.
Residents will be welcomed by an impressive water feature and a lobby with a double-height ceiling at the serviced residence. Designed to provide business executives and their families with the comfort of a home, Somerset Diplomatic Greens Gurgaon offers a range of stylish studios, one- and two-bedroom apartments. Each apartment features a fully-equipped kitchen and separate living and dining areas. The property's extensive facilities include a private gymnasium, yoga centre, swimming pool, all-day dining restaurant and bar.
In India, Ascott currently operates Somerset Greenways Chennai and Citadines Richmond Bangalore. Besides Somerset Diplomatic Greens Gurgaon, five more serviced residences are scheduled to open progressively in Ahmedabad, Bangalore, Chennai, Hyderabad and Gurgaon by 2017.
About The Ascott Limited
The Ascott Limited is a Singapore company that has grown to be one of the leading international serviced residence owner-operators. It has over 30,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 22,000 units which are under development, making a total of more than 52,000 units in over 300 properties. The company operates three award-winning brands – Ascott, Citadines and Somerset, along with The Crest Collection and lyf. Ascott"s portfolio spans more than 100 cities across 29 countries.
Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning serviced residence brands that enjoy recognition worldwide.
Ascott"s achievements have been recognised internationally. Recent awards include DestinAsian Readers" Choice Awards 2017 for "Best Serviced Residence Brand"; TTG China Travel Awards 2017 for "Best Serviced Residence Operator in China"; World Travel Awards 2016 for "Leading Serviced Apartment Brand" in Asia, Europe and the Middle East; Business Traveller Asia-Pacific Awards 2016 for "Best Serviced Residence Brand"; Business Traveller Middle East Awards 2016 for "Best Serviced Apartment Company"; Business Traveller UK Awards 2016 for "Best Serviced Apartment Company" and Business Traveller China Awards 2016 for "Best Serviced Residence Brand". For a full list of awards, please visit www.theascott.com/ascottlimited/awards.html.
About CapitaLand Limited
CapitaLand is one of Asia"s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$78 billion as at 31 December 2016, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 130 cities in over 20 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.
CapitaLand"s competitive advantage is its significant asset base and extensive market network. Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.
Visit www.capitaland.com for more information