Ascott is expanding its portfolio of properties
in Japan through a master lease agreement with Mitsubishi Estate
Company (MEC), one of Japanís largest real estate developers.
129-unit Ascott Marunouchi Tokyo is slated to open in 2017, ahead
of the 2020 Olympics to be held in the city.
Located in the Marunouchi-Otemachi area, Ascott Marunouchi Tokyo will be part of
MECís prestigious mixed-use development comprising offices and
being near prominent commercial buildings, Ascott Marunouchi Tokyo
is close to renowned tourist attractions like Ginza which is the
cityís most prestigious shopping, dining and entertainment
The serviced residence is located near the Imperial
Palace, with apartments offering some of the best views of the Kokyo Gaien National Garden.
Guests will also benefit from convenient
access to other parts of Tokyo and Japan, as Ascott Marunouchi
Tokyo is linked to the Otemachi subway station and is a 10-minute
walk to the main Tokyo train station.
Ascott Marunouchi Tokyo
will provide apartments ranging
from studios to three-bedroom units with separate working and
sleeping areas. For a local touch, guests can choose apartments
that come with tatami mattresses.
Facilities at the serviced
residence include a swimming pool, roof-top terrace, gymnasium,
reading lounge, business centre and meeting rooms.
Mr Lee Chee Koon,
Ascottís Chief Executive Officer, said, ďWe see great potential to
expand in the worldís third largest economy. Japan is already
rebounding from the impact of monetary easing, fiscal stimulus and
reforms. The 2020 Olympics in Tokyo is expected to have an
economic impact of about JPY 3 trillion and attract 8.5 million
visitors. Japanís government is also aggressively attracting
multinational companies to set up their regional headquarters or
research and development centres in the country. This will create
significant demand for quality accommodation. To meet the strong
demand, Ascott plans to expand in Japan through investments,
management contracts and lease agreements.Ē
Ascott currently operates about 360 serviced
apartment units in Citadines Shinjuku and Somerset Azabu East in
Tokyo, and Citadines Karasuma-Gojo in Kyoto. In addition to
serviced residences, Ascott has 40 properties with more than 2,800 apartment units for corporate lease across 10 major cities
including Tokyo, Osaka, Nagoya and Fukuoka.
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