31 Jan
2008

Ascott Presented Prestigious Golden Dragon Award For Contributions To Vietnam Economy

For Immediate Release

NEWS RELEASE

ASCOTT PRESENTED PRESTIGIOUS GOLDEN DRAGON AWARD FOR CONTRIBUTIONS TO VIETNAM ECONOMY

Vietnam, 30 January 2008 – The Ascott Group (Ascott) has been conferred the prestigious Golden Dragon Award for excellent performance in 2007. The Golden Dragon Awards honours foreign direct investment (FDI) enterprises that have made significant contributions to Vietnam’s economic development. This is the second consecutive year that Ascott has won this award.

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

Vietnam Economic Times magazine is one of the country’s leading economic publications. Launched in 1992, it now has four different versions publishing 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 category.

Mr Henry Lim, Ascott’s Country General Manager of Vietnam, said: “Vietnam is an important market for us.  Ascott has been in Vietnam for over a decade and our properties have been experiencing near full occupancy.  The market outlook remains bright given strong pillars of political stability, robust economic growth and growing foreign investments into the country.  We are committed to growing our presence in Vietnam and we will continue to seek opportunities to expand our operations here.”

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

Ascott has won numerous awards in Vietnam including ‘Guide Award for Excellent Performance’, ‘50 Best Employers in Vietnam’, ‘Best Service in Serviced Apartments’ and ‘Excellent Service in Serviced Apartments’ awards.

About The Ascott Group

The Ascott Group is the world’s largest international serviced residence owner-operator with about 15,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of close to 21,000 units.

The Group operates three brands – Ascott, Somerset and Citadines. Its portfolio spans 55 cities in 23 countries, 13 of which are cities where Ascott's serviced residences are being developed. 

The Ascott Group 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 24-year industry track record and serviced residence brands that enjoy recognition worldwide.

The Ascott Group's achievements have been recognised internationally.  Recent awards include TravelWeekly China Industry Awards 2007 ‘Best Serviced Residence’, Business Traveller China Awards 2007 ‘Best Serviced Residence Brand’, World Travel Awards 2007 ‘Australasia’s Leading Hotel’ and ‘New Zealand’s Leading Hotel’, TTG Travel Awards 2007 ‘Best Serviced Residence Operator’, Securities Investors Association of Singapore Investors’ Choice Awards 2007 ‘The Most Transparent Company (Hotel & Restaurants)’, Business Traveller UK Awards 2007 'Best Serviced Residence Company', Business Traveller Asia Pacific Awards 2007 'Best Serviced Residence Brand' and 'Best Serviced Residence' and Forbes China 2008 ‘China’s Best Serviced Apartments’. For a full list of awards, please visit
https://www.theascottgroup.com/aboutus/awards
 
Listed on the mainboard of the Singapore Exchange, The Ascott Group is the serviced residence arm of CapitaLand Limited, one of the largest listed real estate companies in Asia.  Headquartered in Singapore, the multinational company's core businesses in real estate, hospitality and real estate financial services are focused in gateway cities in Asia Pacific, Europe and the Middle East.  The company's real estate and hospitality portfolio spans more than 100 cities in over 20 countries.

For more information on The Ascott Group’s property listings, visit https://www.theascottgroup.com/aboutus/group_directory.html

Celina Low, Vice-President, Corporate Communications

Tel: (65) 6500 3399 

Hp: (65) 96825458 

Email: celina.low@the-ascott.com

Joan Tan, Senior Manager, Corporate Communications

Tel: (65) 6500 3401    

HP: (65) 9743 9503 

Email: joan.tan@the-ascott.com