Ascott has won five contracts to manage 875
serviced apartment units in Cebu, Philippines and Pattaya,
Citadines Cebu City is slated to open in
2019, while the four new properties in Thailand – Citadines North
Pattaya, Citadines Central Pattaya, Citadines Jomtien Beach
Pattaya and Somerset Wong Amat Beach Pattaya – will be ready to
welcome guests from 2018 onwards.
The new management contracts in Cebu and Pattaya
will strengthen Ascott’s position as the largest international
serviced residence owner-operator in the Philippines and Thailand.
Ascott has more than 1,600 units in eight serviced residences and
2,800 units across 16 properties respectively in the two
“We have ramped up our expansion in Southeast Asia
as we see strong growth potential in the long-term. With more than
13,000 apartment units in 73 properties across eight countries in
Southeast Asia, over 30% of Ascott’s global footprint is now
concentrated in this fast-growing region,” said Mr Lee Chee Koon, Ascott’s
Chief Executive Officer. “Ascott has been expanding beyond
the capital cities to other areas with significant growth
opportunities for serviced residences. For instance, Cebu is the
second major business capital in the Philippines after Manila,
while Pattaya is a major city in Thailand’s Eastern Seaboard
region with many multinational companies. Both are also popular
tourist destinations. This year, we have also secured properties
in Jakarta and Yogyakarta in Indonesia; Kota Kinabalu, Nusajaya
and Miri in Malaysia; Bangkok and Sri Racha in Thailand as well as
Binh Duong province and Ho Chi Minh City in Vietnam. Ascott is
also present in the Southeast Asian cities of Yangon, Myanmar and
Vientiane, Laos. We will continue to make inroads into new cities
with strong growth potential and deepen our presence in the
world’s capital cities to achieve our target of 80,000 units
globally by 2020.”
Citadines Cebu City
The contemporary 180-unit
Citadines Cebu City will be part of a mixed-use development that
will also comprise offices, retail and private residential units.
Ascott’s eighth serviced residence in Philippines and its
first outside Manila, Citadines Cebu City will be located within a
vibrant lifestyle hub close to the business districts of Cebu
Business Park and Cebu IT Park, as well as multinational companies
and government offices.
The serviced residence is less than an
hour’s drive from Mactan-Cebu International Airport, making it a
convenient location for corporate or leisure travellers.
will be able to choose from studios, one-bedroom units or the more spacious
Recreational facilities will include a swimming pool, fitness centre
and residents’ lounge.
Citadines North Pattaya, Citadines Central Pattaya, Citadines
Jomtien Beach Pattaya and Somerset Wong Amat Beach Pattaya
four new properties in Pattaya will cater to different segments of
corporate and leisure travellers and they signal Ascott’s
expansion into its third city in Thailand after Bangkok and Sri Racha.
The 300-unit Citadines North Pattaya will appeal to
corporate travellers from the nearby major industrial estates for
automobile, shipping and metal companies, while visitors who enjoy Pattaya’s
notorious nightlife options will most likely appreciate the prime
location of the 150-unit Citadines Central Pattaya.
Citadines Jomtien Beach Pattaya will host expatriates working at
the nearby industrial estate in Rayong as well as leisure
travellers at the popular Jomtien beach.
In the luxury resort and
residential area, the 150-unit Somerset Wong Amat Beach Pattaya
will cater to corporate guests on extended stay and travellers
with families looking for exclusivity and tranquility, offering a
nice sea view from the serviced residence.
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