Ascott has achieved record
breaking growth this year, securing more than 10,000 apartment
units in 51 properties and bringing the company’s portfolio to more
than 52,000 units globally.
Ascott’s latest additions are 10 new
management contracts in Hanoi and Halong City in Vietnam; Phnom
Penh, Cambodia; Bangkok, Thailand; Metro Manila and Cebu in Philippines.
This comes hot on the heels of Ascott’s opening of
Metropole Bangkok, Asia’s first
serviced residence under The Crest Collection.
Mr Lee Chee Koon, Ascott’s Chief
Executive Officer, said: “With these latest additions, Ascott has
as over 52,000 units in our portfolio. We secured over 10,000 units in 2016, making this Ascott’s highest
increase in inventory count in a single year. Of these new units,
90% are located in gateway cities across Asia Pacific
and the Middle East, including countries such as China, India,
Indonesia, Japan, Malaysia, Singapore, Vietnam and Saudi Arabia.
This year, Ascott has also opened 20 properties with more than
3,700 units, our fastest pace ever. As more of the newly signed
properties come into operation, we can expect a further boost to
our management fee income.”
The 10 new properties secured are
slated to open between 2018 and 2023. A first in Halong City,
Citadines Marina Halong, will open in 2020 while Pentstudio in
Hanoi will receive guests from 2018. Somerset Meridian Square
Phnom Penh and The Park at EM District in Bangkok are both
scheduled to open in 2019. In the Philippines, Citadines Manila
Bay will open in 2018 while Somerset Valero Makati is set to be
operational in 2020. Three properties – Somerset Place Salcedo,
Somerset Gorordo Cebu and Citadines Greenhills Manila – are
expected to open in 2021 and Citadines Benavidez Makati will
welcome its first guests in 2023.
Halong (opening 2020)
The 400-unit Citadines Marina Halong has
convenient access to the city centre, a 10-minute drive to Halong
Tourism Wharf and a 20-minute drive to the main industrial areas
such as Cai Lan and Viet Hung. The completion of the Hanoi – Hai
Phong - Halong highway in 2017 will shorten travelling time from
North Vietnam’s key manufacturing hub, Hai Phong. The serviced
residence will offer studios to three-bedroom units, a fitness
club, resident’s lounge and two swimming pools including a rooftop
infinity pool with an adjoining rooftop bar.
Located between Noi Bai International Airport
and the new Central Business District, Pentstudio connects
business travellers to the nearby Thang Long and Quang Minh
Industrial Zones. Residents can choose from 215 units ranging from
studios to penthouses and all the units are duplexes, a new
apartment concept in Hanoi. The serviced residence will have a
swimming pool, yoga room, gymnasium, rooftop bar and restaurant.
The two new properties will strengthen Ascott’s positon as the
largest international serviced residence owner-operator in Vietnam
with more than 4,600 units in 22 properties across Hanoi, Ho Chi
Minh City, Danang, Binh Duong, Hai Phong, Nha Trang and Halong Bay.
Somerset Meridian Square Phnom Penh (opening
Somerset Meridian Square Phnom Penh will be part of an
integrated development that includes retail and a condominium. The
266-unit serviced residence is located in Phnom Penh City Center,
a new township and one of the first planned city projects near the Central Business District. Somerset Meridian Square Phnom Penh is
close to the Special Economic Zone where the manufacturing base of
many international corporations such as Coca-Cola, Toyota and
Yamaha are located. The serviced residence is near to the Cambodia
Railway station and an upcoming shopping mall. The property will
provide guests with studio, one- to three-bedroom units, and a
range of facilities such as a swimming pool, gymnasium, children’s
playroom, breakfast and residents’ lounge, meeting rooms.
Somerset Meridian Square Phnom Penh is Ascott’s second serviced
residence in Cambodia. The 155-unit Somerset Norodom Phnom Penh is
slated to open in 2018.
Metropole Bangkok (Newly
Located in Thonglor, one of Bangkok’s most sought-after
residential districts, the Metropole is just a short drive from Sukhumvit Road,
one of Bangkok’s main
business and entertainment districts, and Bangkok Hospital, an
international medical centre. Thonglor
skytrain station is a 10-minute drive away, providing residents
with easy access to various tourist attractions and major
industrial estates in Eastern Thailand.
The luxury serviced
residence offers 116 apartments with a choice of studio
or one-bedroom apartment and some units also come with a private
balcony. Guests can enjoy facilities such as a swimming pool, a
fitness centre with cold onsen, a restaurant with an outdoor
dining area and residents’ lounge.
The Park at EM District,
Bangkok (opening 2019)
The Park at EM District is located in
Sukhumvit 24, a prime residential area in central Bangkok. The
property is surrounded by high-end shopping malls such as Emporium
and Emquartier as well as upscale amenities including spas and
restaurants. It is near Phrom Phong BTS Station and has easy
access to the Central Business District and eastern seaboard.
Available only for long-stay guests, the property will offer 245
studios, one to three-bedroom units, and facilities include a
swimming pool, gymnasium and breakfast lounge.
largest operator of serviced residences in Thailand, has more than
3,000 units across 18 properties in Bangkok, Sri Racha and
Citadines Manila Bay (opening 2018)
The 212-unit Citadines Manila Bay is located in the Central
Business Park in Pasay City, an emerging business district in
Metro Manila with several office buildings, government
institutions and a growing meetings, incentives, conventions and
events market due to the established convention facilities in the
area. Citadines Manila Bay is near SM Mall of Asia, one of the
Philippines’ largest shopping mall complexes with a convention centre, science centre, and offices. The serviced residence will
be part of an integrated development that also comprises a
shopping mall and offices. Citadines Manila Bay is a 15-minute
drive from Ninoy Aquino International Airport, and a 30-minute
drive from Makati Business District and Bonifacio Global City. The
serviced residence will provide guests with studio and one-bedroom
units. Facilities include a swimming pool, fitness centre,
children’s play area, residents’ lounge, a ballroom, function
rooms and launderette.
Somerset Valero Makati (opening 2020)
The 176-unit Somerset Valero Makati has a prime location in
Salcedo Village within the Makati Central Business District. The
serviced residence is close to several office buildings and is
part of a tower with a retail component. Somerset Valero Makati
will provide a range of studio, one to three-bedroom apartments.
There will be facilities such as a gymnasium, swimming pool and residents’ lounge.
Somerset Place Salcedo (opening 2021)
Also located in Salcedo Village, Somerset Place Salcedo will cater
to business executives working in the nearby offices and
embassies. The serviced residence will have 270 units, comprising
a mix of studio, one, two- and three-bedroom apartments. Somerset
Place Salcedo will also have a gymnasium, function rooms, swimming
pool and an all-day dining area.
Somerset Gorordo Cebu (opening
Close to Cebu Business Park, the 155-unit Somerset
Gorordo Cebu is Ascott’s second serviced residence in the city
after Citadines Cebu City. Cebu is a hub for the country’s
shipping, manufacturing and fast expanding business process
outsourcing and IT services. Guests at Somerset Gorordo Cebu can
choose from studios, one-bedroom or dual key two-bedroom
apartments. Facilities include a swimming pool, gymnasium,
function rooms as well as a residents’ lounge.
Greenhills Manila (opening 2021)
Situated at San Juan, Metro
Manila, the 280-unit Citadines Greenhills Manila is close to
Ortigas Central Business District and opposite Greenhills Shopping
Centre. The serviced residence is within an integrated development
that also comprises residential and retail units. Citadines Greenhills Manila will offer studio and one-bedroom apartments as
well as facilities such as a swimming pool, gymnasium, residents’
lounge and function rooms.
Citadines Benavidez Makati (opening
Part of an integrated development, Citadines Benavidez
Makati sits within the Makati Central Business District and guests
can select from its 145 studios, one- and two-bedroom apartments.
The property will also have a gymnasium, swimming pool, function
rooms and retail shops, providing residents with utmost
convenience and comfort. Citadines Benavidez Makati is Ascott’s
second property in Legaspi Village following Somerset Millennium
Makati, its first serviced residence in the Philippines which
opened in 2000.
These six properties have boosted Ascott’s
leadership as the fastest growing and largest international
serviced residence operator in the Philippines, increasing its
portfolio to more than 2,900 units in 14 properties.
Ascott Southeast Asia
As the largest international
serviced residence owner-operator in Southeast Asia, the region
continues to play a key role in Ascott’s expansion strategy. Of
the 10,000 units secured this year, half are new contracts in
Vietnam is one of its best performing countries
and largest market in Southeast Asia with the most number of
properties as the company seeks to achieve 7,000 units by 2020.
Cambodia presents huge untapped potential for Ascott and Thailand
is a popular destination for travellers. Demand for serviced
residences is set to rise in the Philippines as recent
investments in infrastructure and services underpin its economic
growth. With growing urbanisation and industrialisation, Ascott
will continue to increase its penetration in tier-two and regional
cities in Southeast Asia.
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