08 Aug

Ascott Opens Its First Mid-Tier Serviced Residence In China

The Ascott Group, an international serviced residence company, today opened Luxury Service Residence, its first mid-tier residence in China. It had earlier secured the contract to manage the property for 10 years, with the option to renew for another 10 years.

The 100-unit Luxury Serviced Residence enjoys prime location in Beijing’s Chaoyang district, at the junction of Jianguomen and Jianguonan streets. It is within walking distance of Scitech shopping centre and Friendship Store and near the Silk Market, Forbidden City and Tiananmen Square.

Ascott is the largest international serviced residence company in Asia Pacific and Europe, with more than 13,500 serviced apartments in 38 cities. In China, it is the largest international serviced residence operator, with properties in Beijing, Shanghai, Tianjin and Dalian. Ascott is the serviced residence arm of CapitaLand Limited, one of the largest listed property companies in Asia.

Ascott’s Deputy CEO (Operations), Mr Cameron Ong, said: “Luxury Serviced Residence extends Ascott’s product range into the mid-tier serviced residence category, and complements our luxury-tier The Ascott Beijing and upper-tier Somerset Fortune Garden in Beijing.

“Besides demand from expatriate corporate executives, there is growing demand for mid-tier residences from senior business executives from Chinese companies who are traveling within China. Luxury Serviced Residence, with its prime location and modern facilities, caters to this rapidly expanding sector.”

Mr Ong said that Ascott continues to see strong growth potential in China, and targets to expand its serviced residence portfolio in the country from 1,600 to 4,000 units by 2008. It plans to achieve this through opening more mid-tier properties, securing more management contracts, and expanding operations to other major Chinese cities.

Luxury Serviced Residence comprises one to four-bedroom apartments with fully-equipped kitchens, home entertainment systems and broadband Internet access. It is also the first serviced residence in Beijing to offer duplex, or double-storey, apartments. Facilities at the residence include a gym, sauna, lounge and business centre. The property also provides 24-hr concierge, daily breakfast and housekeeping services.

Earlier this week, Ascott opened the 106-unit Somerset Harbour Court in Dalian, becoming the first international serviced residence company to operate in the city.

Ascott also operates the 272-unit The Ascott Beijing and 221-unit Somerset Fortune Garden in Beijing. In Shanghai, it manages the 248-unit The Ascott Pudong, 334-unit Somerset Grand Shanghai and 167-unit Somerset Xu Hui. It also manages the 169-unit Somerset Olympic Tower in Tianjin.



About The Ascott Group's Serviced Residences In China 

In Beijing

The Ascott Beijing -- 272 units, Chaoyang district
The luxury-tier residence in the city's CBD is close to the China World Trade Centre. It boasts designer fittings and extensive facilities including an indoor glass-roofed pool, fully equipped fitness centre, and business centre. Units range from elegant one-bedroom suites to four-bedroom penthouses.

Somerset Fortune Garden -- 221 units, Chaoyang district
Located in the business area of Chaoyang district, Somerset Fortune Garden is near international schools, embassies and entertainment centres. Facilities include a gym, indoor heated pool and residents' lounge. Units range from one to four-bedroom suites, with private balconies and scenic city views.

Luxury Serviced Residence (new) - 100 units, Chaoyang district
Located in Beijing's prime Chaoyang residential district, the mid-tier residence is near Scitech Plaza and Friendship Store shopping malls, Silk Market, Tiananmen Square, Forbidden City and Jianguomen subway station. Facilities include a gym, sauna, business centre, and lounge. Units range from one to four-bedroom apartments.

In Shanghai

The Ascott Pudong -- 248 units, Pudong district
Boasting spectacular views of the Huangpu River, the luxury-tier The Ascott Pudong offers facilities such as a business centre, indoor heated pool, gym, sauna, indoor tennis court and residents' lounge. Units range from one to four-bedroom designer suites and elegant penthouses.

Somerset Grand Shanghai -- 334 units, Luwan district
Located along Huai Hai Zhong Road, Somerset Grand Shanghai is in the heart of Shanghai's main business, shopping and dining belt. Facilities include an indoor heated swimming pool and an international kindergarten. Units range from one to three-bedroom suites.

Somerset Xu Hui - 167 units, Xuhui district
Situated in the Xuhui residential estate, Somerset Xu Hui is close to shopping and entertainment facilities in Huai Hai Zhong Road and Xujiahui. Facilities include a gym, indoor heated pool, lounge and tennis court. It offers spacious one to three-bedroom suites.

In Dalian

Somerset Harbour Court (new) - 106 units, Zhongshan district (Opened 4 Aug 2003)
Part of the prime Dalian Asia Pacific Finance Centre in the city's CBD, the residence is a stroll from Dalian harbour's passenger station and a five-minute drive from the railway station. Facilities include a gym, business centre and lounge. Units comprise one and two-bedroom suites.

In Tianjin

Somerset Olympic Tower - 169 units, Heping district
In the heart of Tianjin's prime upmarket shopping area and residential district, Somerset Olympic Tower is close to international schools and the Tianjin railway station. Facilities include an indoor heated pool, gym, rooftop garden and barbecue area. Units range from one-bedroom suites to four-bedroom penthouses.


The Ascott Group is a leading international serviced residence company with serviced residence units spanning the gateway cities of Europe, Southeast Asia, North Asia and Australasia.

Ascott's global presence comprises 13,500 serviced residence units in more than 110 properties across 38 cities in 15 countries. These cities include London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Ho Chi Minh City, Kuala Lumpur, Tokyo, Shanghai and Beijing in Asia; and Sydney, Melbourne and Auckland in Australasia.

Headquartered in Singapore, The Ascott Group pioneered the Asia Pacific’s first branded luxury serviced residence in 1984. Today, it boasts a 19-year industry track record and serviced residence brands that enjoy strong recognition worldwide.

The Group’s flagship The Ascott luxury serviced residence brand projects an elegant lifestyle appealing to top executives. Its Somerset upper-tier brand offers stylish, contemporary living for senior to upper management executives. The mid-tier Oakford brand in Australia and Citadines brand in Europe provide corporate executives with comfortable city residences.

Listed on the mainboard of the Singapore Exchange, the Group is the serviced residence arm of CapitaLand Limited, one of the largest listed property companies in Asia.

Headquartered in Singapore, CapitaLand Limited’s core businesses in residential, commercial and industrial property and property related services, such as property funds and real estate financials, are focused in selected gateway cities in China, Australia and the UK.

For reservations on Ascott properties, call Central Reservations on
(65) 6272-7272 or visit the Group’s website at www.the-ascott.com



Cinn Tan, Regional Director (China), Sales and Marketing
Tel: (86-10) 6567 8100
Email: cinn.tan@the-ascott.com.cn

Helene Manouvrier, Executive
Tel: (86-10) 6567 8100
Email: helene.manouvrier@the-ascott.com.cn