Ascott has extended its footprint
to Thailandís Eastern Seaboard economic region, winning a contract
to manage a 133-unit serviced residence in Sri Racha district,
Scheduled to open in 2014, the new Citadines
Grand Central Sri Racha will enhance Ascottís position as one of
the largest international serviced residence owner-operators in
Thailand with over 1,800 apartment units across 10 properties.
Citadines Grand Central
Sri Racha will be located close to retail outlets
such as Robinson department store, restaurants, international
schools and medical facilities. It will also be a 30-minute drive
from the popular beach resort of Pattaya.
residence will offer a choice of studios, one and two-bedroom
apartments that come with a fully-equipped kitchen, separate work
and living areas, as well as modern amenities.
Residents will be able to enjoy
a refreshing workout at the gymnasium, take a leisurely swim in
the pool or relax at the onsen in the property.
Mr Lee Chee Koon, Ascottís Chief Executive
Officer, said, ďThailand is ranked amongst the world's best
emerging markets for investors. Its resilient economy,
pro-investment policies, skilled workforce and business
infrastructure continue to be attractive to foreign investors. In
2012, total foreign direct investment in Thailand reached more
than THB980 billion, the highest in the past 10 years. Besides
having a strong presence in Bangkok, Ascott sees significant
potential in expanding to Thailandís Eastern Seaboard where many
multinational companies are based. By bringing Citadines to Sri Racha, Ascott will have 76 Citadines-branded properties in 45
Mr Arthur Gindap, Ascottís Regional General
Manager for Thailand and Philippines, added, ďSri Racha is home to
the Laem Chabang port, the fourth busiest container port in
Southeast Asia. It is situated amidst thousands of hectares of
industrial estates which house multinational companies involved in
automotive, electronics, petrochemical and steel manufacturing such as Fujitsu, Sony, ExxonMobil and Bridgestone. As Citadines
Grand Central Sri Racha will be the first international branded
serviced residence to open in Sri Racha, Ascott will enjoy
first-mover advantage in catering to the strong demand for quality
accommodation from expatriates and business travellers working in
the region. Citadines will offer guests the flexibility to choose
the services they require to customise their stay.Ē
Thailand, Ascott currently operates nine properties in Bangkok.
They are Ascott Sathorn, Citadines Sukhumvit 8, Citadines
Sukhumvit 11, Citadines Sukhumvit 16, Citadines Sukhumvit 23,
Somerset Lake Point, Somerset Park Suanplu, Somerset Sukhumvit Thonglor and Vic3.
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