Ascott increases Philippine presence

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), increased its presence in the Philippines by securing a contract to manage a serviced residence in Alabang, a major business district in Metro Manila, Philippines.

The 150-unit Somerset Alabang Manila is slated to open in 2017. It is expected to reinforce Ascott’s position as the largest international serviced residence owner-operator in the Philippines with more than 1,400 apartment units across eight properties.

Somerset Alabang Manila has a prime location within the Filinvest City, an integrated development comprising office, retail, residential and leisure components. The serviced residence is close to the corporate offices of multinational corporations such as Shell, HSBC and Verizon.

Situated off the exit of the South Luzon Expressway, Somerset Alabang Manila is just a 25-minute drive away from the airport and is accessible from the industrial parks in Laguna, Cavite and Batangas. Guests will get to enjoy a wide range of amenities near the property, including restaurants, shopping malls, supermarkets, sports and recreational venues and even a hospital with a lifestyle medical center.

 

Somerset Alabang Manila will offer studio, one- to three-bedroom residences and penthouse units. All apartments will come with a kitchen and separate living, dining and work areas. The facilities at the serviced residence include an outdoor swimming pool, gymnasium, residents’ lounge, children’s playroom, meeting rooms and business center.

Apart from Somerset Alabang Manila, Ascott is also set to open Ascott Bonifacio Global City Manila and Citadines Salcedo Makati in 2014 and Citadines Millennium Ortigas Manila in 2015.

The Ascott Limited is a Singapore company with more than 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 9,000 units which are under development, making a total of more than 32,000 units in over 200 properties. The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across more than 20 countries, 18 of which are new cities in Ascott’s portfolio where its serviced residences are being developed.

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