21 Aug
2017

Ascott shares the opening of its first Turkey serviced residence Somerset Maslak Istanbul with Turkish Prime Minister during his first official trip to Singapore

Singapore, 21 August 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), shared with Turkish Prime Minister Binali Yildirim the opening of its first serviced residence in Turkey, Somerset Maslak Istanbul, during a luncheon hosted by IE Singapore as part of his first official trip to Singapore, at the invitation of Singapore Prime Minister Lee Hsien Loong.

Mr Tony Soh, Chief Corporate Officer of The Ascott Limited, said: “Turkey is an attractive market for foreign investors and we see significant potential to expand in the country with Ascott’s international brand of serviced residences. Turkey has a strategic location at the crossroads of Europe, Middle East and Asia, a large domestic market and stable policy environment. The Singapore-Turkey Free Trade Agreement will also spell more trade opportunities and collaborations for these two countries. As the financial hub of the country, Istanbul is a natural choice for multinational corporations setting up headquarters in Turkey. Tourism is also a significant contributor to the country’s GDP. With Ascott’s expertise in managing award-winning serviced residences worldwide, we expect strong demand for our first property in Turkey and look forward to welcoming guests to experience Somerset Maslak Istanbul.”  

The 165-unit serviced residence is an integral part of the new Maslak 1453, Europe’s largest lifestyle development complex spanning more than two million square metres. The property is ideally located in the city’s major commercial hub, which is home to many multinational corporations, such as Ericsson, Cisco and Ford, as well as educational institutions including Nisantasi University and Istanbul Technical University. Popular leisure destinations within a 10-minute drive from the property include the mall Istinye Park, which offers 291 retail stores and food bazaar, sports stadium Türk Telecom Arena that houses football club Galatasaray SK; and the Istanbul Sapphire, an integrated development comprising retail and residential components.

Ideal for travellers who are on business trip or holiday with their family, Somerset Maslak Istanbul provides flexibility for short and long-stay. Its spacious apartments, ranging from studios to four-bedroom units, each comes with a fully-equipped kitchen, wireless internet connection and separate workspace and living area. Guests will get to enjoy facilities including a breakfast room, gymnasium, residents’ lounge, swimming pool and children’s playroom.

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be one of the leading international serviced residence owner-operators. It has over 43,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 26,000 units which are under development, making a total of close to 70,000 units in over 500 properties. The company’s brands include Ascott, Citadines, Somerset, Quest, The Crest Collection, and lyf. Ascott’s portfolio spans more than 120 cities across over 30 countries.

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. 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 2017 for ‘Leading Serviced Apartment Brand’ in Asia; DestinAsian Readers’ Choice Awards 2017 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2017 for ‘Best Serviced Residence Operator in China’; Business Traveller Asia-Pacific Awards 2016 for ‘Best Serviced Residence Brand’; Business Traveller Middle East Awards 2016 for ‘Best Serviced Apartment Company’; Business Traveller UK Awards 2016 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2016 for ‘Best Serviced Residence Brand’. For a full list of awards, please visit www.the-ascott.com/ascottlimited/awards.html.

About CapitaLand Limited

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$80 billion as at 30 June 2017, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 150 cities in over 30 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia. CapitaLand’s competitive advantage is its significant asset base and extensive market network. Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall 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  

 

Chen MeiHui, Manager, Group Communications

Tel: (65) 6713 3673   

Mobile: (65) 8133 8334          

Email: chen.meihui@capitaland.com