04 Mar

Ascott Expands Citadines Brand To Kyoto, Japan

Citadines Kyoto Karasuma-Gojo near the city’s business district, tourist belt and renowned heritage sites

Singapore, 4 March 2010
– CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), continues to extend its Citadines brand in Japan and will open its second Citadines property in the country on 8 March 2010. The new Citadines Kyoto Karasuma-Gojo follows the successful opening of Ascott’s first Citadines serviced residence in Japan, Citadines Tokyo Shinjuku, in March 2009.

Mr Lee Chee Koon, Ascott’s Managing Director for North Asia, said: “Our first Citadines property in Japan has been achieving strong average occupancy of around 80%. It has also received many positive reviews from customers. Hence, we’re expanding our Citadines brand to another key city in Japan. The opening of Citadines Kyoto Karasuma-Gojo will enable us to cater to the strong demand for quality accommodation in Kyoto which is a popular tourist destination and an attractive venue for international conventions. With this new property, Ascott’s portfolio in Japan will increase to over 3,800 apartment units in 53 properties across 10 cities including Tokyo, Kyoto, Osaka, Nagoya, Kobe and Hiroshima.”

Citadines Kyoto Karasuma-Gojo enjoys a prime location in Gojo. It is a short walk from the city’s business district and tourist belt where many shopping malls, supermarkets, restaurants and entertainment facilities can be found. Furthermore, renowned UNESCO World Heritage sites such as the Kiyomizu Temple and Toji Temple are both less than a 10-minute drive away.

With the Gojo subway station located outside the serviced residence, travellers can also enjoy convenient access to other destinations and places of interest in the city. Kyoto’s largest and most prestigious downtown shopping area, Shijo Street, and the Kyoto Shinkansen bullet train station, for instance, are just one stop away on the subway. Shijo Street is home to a wide range of retail outlets from shops selling traditional craft to boutiques carrying designer fashion. Besides connecting Kyoto to other cities in the country, the Kyoto Shinkansen bullet train station is also part of an integrated development comprising a movie theatre and shopping mall featuring department store Isetan and electronic superstore Bic Camera.

The 124-unit Citadines Kyoto Karasuma-Gojo offers stylish studios and one-bedroom apartments that come with contemporary décor, modern fittings, a fully-equipped kitchen, home entertainment system and broadband internet access. Travellers may opt for a range of services including courier delivery, laundry, dry cleaning, and babysitting according to their lifestyle needs. They can also discover Kyoto through the property’s residents’ programmes.

To celebrate the opening of Citadines Kyoto Karasuma-Gojo and as part of CapitaLand’s 10th Anniversary celebrations, Ascott is offering promotional rates starting from JPY 10,000 ++ per night for a studio. For enquiries and reservations, please visit www.citadines.com, call (65) 6272 7272 or email enquiry@the-ascott.com

About The Ascott Limited

Ascott is the world's largest international serviced residence owner-operator with over 19,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as around 6,000 units which are under development, making a total of 25,000.

The company operates three brands – Ascott, Somerset and Citadines. Its portfolio spans 67 cities in 22 countries, 10 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. It also established the world’s first pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 26- year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers’ Choice Awards 2010 ‘Best Serviced Residence in Asia Pacific’, TTG Travel Awards 2009 ‘Best Serviced Residence Operator’, Business Traveller UK Awards 2009 ‘Best Serviced Apartment Company’, Business Traveller Asia Pacific Awards 2009 ‘Best Serviced Residence Brand’ and ‘Best Serviced Residence in Asia Pacific’ and TTG China Travel Awards 2009 ‘Best Serviced Residence Operator in China’.

About CapitaLand Group

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company’s real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed subsidiaries and associates of CapitaLand include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust.

Joan Tan, Assistant Vice President, Corporate Communications

Tel: (65) 6500 3401

HP: (65) 9743 9503

Email: joan.tan@the-ascott.com

Tan Hock Lee, Assistant Manager, Corporate Communications

Tel: (65) 6500 3402

HP: (65) 9108 7017

Email: tan.hocklee@the-ascott.com