Quest opens first of three Sydney properties for 2016

Quest St Leonards is the first of three new Quest properties scheduled to open in the capital city this year, to be followed by Quest Bella Vista in June and Quest Macquarie Park in December.

Quest CEO, Zed Sanjana emphasised the importance of the Sydney market in the company's growth strategy looking forward.

"Sydney continues to be a key growth market for Quest, as we continue increasing our presence, strengthening our brand and cementing our position as the accommodation provider of choice for travellers doing business and spending their holidays in New South Wales," said Mr Sanjana.

One of Sydney's suburban skyscraper clusters, St Leonards provides a central access point to three of Sydney's key business hubs, positioned 5 kilometres from the CBD, 2 kilometres from North Sydney, and 3 kilometres from Chatswood.

St Leonards' own commercial centre continues to expand, providing one of the largest office markets in metropolitan Sydney, while establishing the area as an important employment centre for the North Shore and Sydney. Key economic drivers include professional, scientific and technical services, health care and manufacturing.

The brand new property features 79 studio apartments and guests will have access to an onsite car park, gymnasium and swimming pool.

2016 sees an extensive pipeline of new property openings for Quest across Australasia, opening in 11 new locations. In addition to St Leonards, this includes: West Perth, Mounts Bay Road, East Perth and Fremantle (WA); Newcastle West, Bella Vista and Macquarie Park (NSW); Port Adelaide (SA); Dandenong Central (VIC); and Petone (New Zealand).

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.