Ascott expands in China, to manage three properties

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), was awarded contracts to manage three more properties with more than 500 apartment units in China. The 90-unit Ascott Heng Shan Shanghai, 250-unit Ascott Emerald City Suzhou and 194-unit Somerset Baitang Suzhou are scheduled to open in 2014, 2015 and 2017, respectively.

Ascott Heng Shan Shanghai is located in the Xuhui District, close to foreign consulates, the Xujiahui Commercial Center and key commercial and shopping areas along Nanjing Road and Huaihai Road. It is also near the offices of major multinational corporations as well as popular restaurants and pubs along Hengshan Road. Travelers will enjoy access to various destinations in Shanghai and other cities in China as Ascott Heng Shan Shanghai is right next to the Metro Line 1 station and is near the Shanghai Railway Station. There are one- to three-bedroom apartments available.

Ascott Emerald City Suzhou has a location in the Suzhou New District (SND) where more than 2,000 multinational corporations from various industries such as consumer electronics, IT, biotechnology and pharmaceuticals have set up operations. The serviced residence is part of The Emerald City, an integrated development comprising retail outlets, offices, restaurants, leisure facilities and a supermarket. Within walking distance are the SND Financial Banking Street and Metro Line 1 station, while the Suzhou Train Station is just a 10-minute drive from the property. Ascott Emerald City Suzhou will offer a range of studios, one-, two- and three-bedroom units, as well as penthouses.

 

Somerset Baitang Suzhou is located in the Suzhou Industrial Park, adjacent to the Jinji Lake East Central Business District. It is surrounded by the offices of government departments such as the Suzhou Industrial Park Administrative Committee and Property Rights Trading Center, as well as the Suzhou branch office of several financial institutions including the Bank of China,Industrial and Commercial Bank of China and China Merchants Bank.

The three serviced residences will provide facilities including a swimming pool, sauna, spa, gymnasium, business center, meeting room, breakfast lounge and children’s play area.

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. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust.

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