25 Jan

Ascott Expands Its Presence In The Philippines With Two New Properties

Second Ascott-branded serviced residence and first Citadines Apart’hotel in the country to open in 2014

Manila, Philippines, 25 January 2011 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has expanded its presence in the Philippines with the sealing of contracts to manage two new serviced residences. The 220-unit Ascott Bonifacio Global City Manila will be the second Ascott-branded property in the Philippines and the company’s first property in the fast-developing Taguig City. The 215-unit Citadines Salcedo Makati will be the first Citadines Apart’hotel in the country. Both properties are slated to open in 2014.

Mr Arthur Gindap, Ascott’s Country General Manager for the Philippines, said: “Ascott has been established in the Philippines since 2000 and today, we are the largest international serviced residence owner-operator in the country. As the Philippine economy continues to grow, particularly in its business process outsourcing sector, we expect the number of business travellers and tourists to increase. This will generate strong demand for international-class serviced residences. With our two new properties, we will further strengthen our position with close to 1,200 apartment units across six properties.”

He added: “Our Citadines Apart’hotel is an established brand with 70 properties in Europe and Asia Pacific. Citadines offers a flexible services menu to cater to the needs of independent travellers who wish to customise their stay. With Citadines Salcedo Makati, our first Citadines Apart’hotel in the Philippines, customers will be able to choose from all three brands of serviced residences to meet their different lifestyle requirements.”

Ascott Bonifacio Global City Manila

Ascott Bonifacio Global City Manila will be located within Taguig City, home to headquarters of multinational corporations such as Hewlett-Packard, The Hong Kong and Shanghai Banking Corporation, Deutsche Bank, Fujitsu Corporation and Ericsson. The serviced residence is also a 15-minute drive away from the Makati district, the capital’s financial, cultural, retail and entertainment hub. Ascott Bonifacio Global City Manila will offer traveller’s choices of studios, one-, two- and three-bedroom apartments of lavish living spaces featuring plush interiors and state-of-the-art amenities. Facilities include well-appointed office suites, cutting-edge boardroom and meeting areas, plus modern recreational venues.

Citadines Salcedo Makati

Citadines Salcedo Makati will be situated in Salcedo Village within the Makati Central Business District. It is within walking distance to various financial and corporate offices including Citibank Tower, Ayala Tower and the Philippines Stock Exchange. Recreational facilities and attractions such as the Makati Sports Club and Velazquez Salcedo Park are also located within the vicinity. Citadines Salcedo Makati will offer studios, one- and two-bedroom apartments of stylish interiors and modern amenities. Recreational facilities include fitness centre and swimming pool ideal for leisure periods spent indoors.

Besides Ascott Bonifacio Global City Manila and Citadines Salcedo Makati, Ascott currently operates four properties in the country. The flagship Ascott Makati is the choice accommodation for top business executives in the Philippines while Somerset Millennium Makati, Somerset Olympia Makati and Somerset Salcedo Makati cater mainly to travellers with families.

About The Ascott Limited

Ascott is the world's largest international serviced residence owner-operator with over 21,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 5,000 units which are under development, making a total of more than 27,000 units.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across 20 countries, 11 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 27-year industry track record and serviced residence brands that enjoy recognition worldwide.

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

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 entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.


Joan Tan, Assistant Vice President, Corporate Communications

Tel: (65) 6500 3401   

HP: (65) 9743 9503   

Email: joan.tan@the-ascott.com


Jasmine Sim, Assistant Manager, Corporate Communications

Tel: (65) 6500 3404   

HP: (65) 9686 2859   

Email: jasmine.sim@the-ascott.com