CapitaLand’s serviced residence business unit, The Ascott Limited (Ascott), is marking its 30th anniversary this year.
The firm opened its first property in Singapore back in 1984 and has since expanded to 83 cities across 23 countries.
In a statement, its CEO Lee Chee Koon said: “As
Ascott celebrates 30 years of successful business, we would like to
thank all our customers for their unwavering support. In 2013 alone, we
had over one million stays, of which a significant percentage was from
repeat guests and we look forward to their continued support.”
The company currently operates three brands – Ascott, Citadines and Somerset with over 23,000 serviced residence units in operation in key cities around Asia Pacific, Europe and the Gulf region.
Over 10,000 units are also under development, such as Somerset Kabar Aye Yangon (pictured), Ascott’s first property in Myanmar.
Slated to open in early 2018, the 153-unit serviced residence is part of a mixed-use development that also houses a luxury condominium.
Located in Yangon, it comprises studios and one- to three-bedroom apartments. The city centre is just 15-minutes away and it takes 30-minutes from Yangon International Airport. Nearby amenities include the International SOS clinic, Yankin shopping centre and restaurants.
Meanwhile over in China, Ascott will introduce its third property in Wuhan – Somerset Zhuankou Wuhan – which is slated to open in 2018.
Additionally, it has opened its first property in Frankfurt, Citadines City Centre Frankfurt, and will unveil Ascott Sentral Kuala Lumpur this month.
By 2018, Ascott plans to open 58 properties across 12 countries, of which around 20 are scheduled to open this year. Through investments, management contracts and strategic alliances, the company is looking at 40,000 apartment units globally by 2015.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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