12 Jan

Ascott Wins Third Golden Dragon Award For Its Contributions To Vietnam's Economy

Vietnam, 12 January 2009 – The Ascott Group (Ascott), CapitaLand’s wholly-owned serviced residence unit, has won the prestigious Golden Dragon Award for its contributions to the Vietnam economy. Ascott has been winning this award for three years running. This year, Ascott has garnered the Golden Dragon Award for Best Serviced Residence Brand. CapitaLand’s Vietnam operations, CapitaLand (Vietnam) Holdings, has also been conferred the Award for High Quality Service.

The Golden Dragon Awards honour top foreign direct investment (FDI) enterprises that have made significant contributions to Vietnam’s economic development, and recognise outstanding achievements in brand, service and management excellence.

Winners of the annual Golden Dragon Awards were selected based on votes by readers of Vietnam Economic Times magazine and the organising board under stringent criteria. The board consists of leaders from key public agencies such as Ministry of Planning and Investment, Ministry of Trade, Ministry of Finance, State Bank of Vietnam, Union of Vietnam Scientific and Technological Associations and Vietnam Economic Times. Mr Vu Khoan, former Vice Prime Minister of Vietnam, is the Honorary President of the Golden Dragon Awards.

Mr Henry Lim, Ascott’s Country General Manager of Vietnam said: "Since our entry into Vietnam over a decade ago, Ascott has successfully built a strong brand reputation for our quality services and products. Besides our commitment to excellence, we strongly believe in giving back to the community where we operate, whether it’s by getting our staff and residents involved to help the less privileged or through our environment-friendly initiatives. We are honoured to be recognised by the Vietnam government and media for a third year for our contributions to Vietnam. Vietnam is an important market for Ascott and we will continue to seek opportunities to expand our presence in the country."

Ascott’s current portfolio in Vietnam comprises 1,050 serviced residence units in six properties in Hanoi and Ho Chi Minh City. This includes a new property, Somerset Saigon City, to be opened in 2011.

Besides winning awards for brand, service and management excellence, Ascott has been recognised for charity and environmental protection activities in Vietnam with the recent Saigon Times Top 40 Award 2008. Other awards Ascott has won include ‘Guide Award for Excellent Performance’, ‘50 Best Employers in Vietnam’, ‘Best Service in Serviced Apartments’ and ‘Excellent Service in Serviced Apartments’ awards.

About Vietnam Economic Times Magazine

Vietnam Economic Times magazine is one of the country’s leading economic publications. Launched in 1992, it now has four different versions published in Europe, Asia and America. All versions poll their readers annually to select the best companies from 10 industries. Ascott has emerged one of the top for the real estate and service category.

About The Ascott Group  

The Ascott Group is the world's largest international serviced residence owner-operator with nearly 18,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as about 7,000 units which are under development, making a total of close to 25,000 units.

The Group operates three brands – Ascott, Somerset and Citadines. Its portfolio spans 66 cities in 22 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed. Ascott's properties can be found in cities including London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing and Hong Kong in Asia; Melbourne, Perth and Sydney in Australia, as well as Doha, Dubai and Manama in the Gulf region.

The Ascott Group, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first branded luxury 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 Group boasts a 25-year industry track record and serviced residence brands that enjoy recognition worldwide.

The Ascott Group's achievements have been recognised internationally. Recent awards include TTG Travel Awards 2008 'Best Serviced Residence Operator', Business Traveller UK Awards 2008 'Best Serviced Residence Company', Business Traveller Asia Pacific Awards 2008 'Best Serviced Residence Brand' and 'Best Serviced Residence', TravelWeekly (Asia) Industry Awards 2008 'Best Serviced Residence (Group)' and DestinAsian Readers' Choice Awards 2008 'Best Serviced Apartment/Residence Operator'.

About CapitaLand Group

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multinational company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific, Europe and the Gulf Cooperation Council (GCC) countries.

The company's real estate and hospitality portfolio spans more than 120 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, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust and CapitaRetail China Trust.

Joan Tan, Senior Manager, Corporate Communications

Tel: (65) 6500 3401 

HP: (65) 9743 9503 

Email: joan.tan@the-ascott.com

Foo Siew Shyan, Assistant Manager, Corporate Communications

Tel: (65) 6500 3404 

HP: (65) 9848 8929 

Email: foo.siewshyan@the-ascott.com