14 Oct

Ascott Opens Its First Citadines Apart'hotel In South Korea

Citadines Haeundae Busan is Ascott’s largest property globally

Busan, South Korea, 13 October 2015 - The Ascott Limited, CapitaLand’s wholly owned serviced residence business unit and the world largest international serviced residence owner-operator, today celebrated the opening of its first Citadines brand of serviced residence in Korea, Citadines Haeundae Busan. The new Citadines Apart’hotel with 468 apartment units is Ascott’s largest property globally and it marks the company’s growing presence in South Korea, where it also manages Somerset Palace in Seoul.

Situated in the heart of Busan, Citadines Haeundae Busan has a prime location in Haeundae, a popular holiday destination of Korea, with easy access to major business, entertainment, and cultural venues. Ideal for independent business and leisure travellers, Citadines Haeundae Busan provides guests with the flexibility to choose from a menu of services to customise their stay experience according to their lifestyles.

Mr Kevin Goh, Ascott’s Managing Director for North Asia, said: “We are committed to expanding Ascott’s presence in South Korea. Since entering South Korea in 2005 with Somerset Palace Seoul, we have been looking for opportunities to expand our presence in the country. Citadines Haeundae Busan is not only our largest property worldwide, it is the first international brand of serviced residence in Busan. Ascott currently has more than 1,000 units across three properties in South Korea including Citadines Han River Seoul which is slated to open in 1Q 2016. With the influx of expatriate workers and the large domestic leisure market, our established Somerset brand and our additional Citadines properties will give discerning travellers a wider accommodation choice.”

Enjoy vibrant living with modern conveniences

Citadines Haeundae Busan is located in the Haeundae Special Tourist Zone, the heart of tourism in South Korea. Whether it is travellers on a short trip or expatriates on long-term stay, the serviced residence offers vibrant living with a wide array of tourist attractions, restaurants, department stores, and entertainment outlets located in the property’s immediate vicinity or within a short driving distance. These include Haeundae Beach, Shinsegae Centum City, Bexco and the SEA Life Busan Aquarium.

Citadines Haeundae Busan is also part of an integrated development that also houses retail shops and a cinema. Connected to Busan Haeundae Subway Station Line 2 via a direct walkway and with the nearby intercity bus terminal, guests at Citadines Haeundae Busan have convenient access to downtown as well as the suburbs.

Spacious and stylish interiors          

With 468 units, residents can select from a variety of apartments ranging from studios to one-bedroom units that are between 25 sqm and 56 sqm. Each unit is tastefully furnished with stylish yet homely interiors that accentuate the colours of the coastal location, and are complete with modern amenities. Besides a spacious living area, a fully equipped kitchen and well-equipped bathrooms, the serviced residence comes with fitness facilities, launderette, complimentary high-speed WiFi and 24-hour security, providing residents with a comfortable home away from home.   

Opening promotion

To celebrate the opening of Citadines Haeundae Busan, Ascott is now offering promotional rates starting from KRW147,000 per night for a One-Bedroom Deluxe, valid for stays till end December 2015. For more information and reservations, please visit: www.citadines.com. Make bookings on Ascott’s website for Best Rate Guarantee.

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has over 26,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Gulf region, as well as over 15,000 units which are under development, making a total of more than 42,000 units in over 270 properties.

The company operates three award-winning brands – Ascott, Citadines and Somerset. Its portfolio spans 94 cities across 26 countries, 25 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts over 30 years of industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2015 for ‘Leading Serviced Apartment Brand’ and ‘Leading Serviced Apartments’ in Belgium, France, Germany and Spain, Business Traveller Middle East Awards 2015 for 'Best Serviced Apartment Company Middle East', Business Traveller Asia-Pacific Awards 2015 for ‘Best Serviced Residence Brand’, Business Traveller UK Awards 2014 for ‘Best Serviced Apartment Company’, Business Traveller China Awards 2014 for ‘Best Serviced Residence Brand’ and 'Best Serviced Residence', TTG China Travel Awards 2015 for ‘Best Serviced Residence Operator in China’ and DestinAsian Readers’ Choice Awards 2015 for ‘Best Serviced Residence Brand’. For a full list of awards, please visit https://www.theascottlimited.com/en/aboutus/awards.

Visit www.the-ascott.com for more information and connect with us on social media at www.the-ascott.com/connect.

About CapitaLand Limited

CapitaLand is one of Asia’s largest real estate companies headquartered and listed in Singapore.  The company leverages its significant asset base, design and development capabilities, active capital management strategies, extensive market network and operational capabilities to develop high-quality real estate products and services. Its diversified global real estate portfolio includes integrated developments, shopping malls, serviced residences, offices and homes.  Its two core markets are Singapore and China, while Indonesia, Malaysia and Vietnam have been identified as new growth markets.  The company also has one of the largest real estate fund management businesses with assets located in Asia.

CapitaLand’s listed real estate investment trusts are Ascott Residence Trust, CapitaLand Commercial Trust, CapitaLand Mall Trust, CapitaLand Retail China Trust and CapitaMalls Malaysia Trust.

Visit www.capitaland.com for more information.



Joan Tan, Vice President, Group Communications

Tel: (65) 6713 2864    

Mobile: (65) 9743 9503    

Email: joan.tanzm@capitaland.com


Christine Teh, Manager, Group Communications

Tel: (65) 6713 2873    

Mobile: (65) 9368 5684    

Email: christine.teh@capitaland.com