Ascott surpasses 100th property milestone in China with seven new properties secured across six cities
On track to exceed its target of 80,000 units globally by 2020
The 161-unit Ascott Yulian Plaza Dalian is located in the heart of Jinpu New District, which has the largest land area among China’s 13 national economic districts.
Singapore, 27 June 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has clinched seven new contracts to manage over 1,300 apartments across six cities in China. These properties mark Ascott’s first foray into Kunming and Yichang while deepening its presence in Chongqing, Dalian, Shenzhen and Xuzhou. To date, Ascott has added more than 2,700 units across 15 properties in China this year. This is a 56% increase compared with the more than 1,700 units and 10 properties secured in the first half of 2016.
Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “China remains Ascott’s biggest market and we are excited to be surpassing our 100th property milestone in China this year. Chinese are amongst Ascott’s top customers at our properties globally with revenue surging by 35% year-on-year. Awareness of Ascott has also grown significantly in China. In 2016, about 62% of our guests in China are Chinese. With close to 19,000 units in 104 properties across 29 Chinese cities, Ascott will achieve our target of 20,000 units in China well ahead of 2020. With this momentum, we are confident of exceeding our target of 80,000 units globally by 2020.”
In addition, Ascott has listed about 15,000 serviced apartments on Alibaba’s online travel service platform Fliggy, covering its properties in more than 20 destinations most popular amongst Chinese travellers, such as Singapore, Bangkok, Tokyo, Paris and London.
Mr Lee added: “China’s rising incomes are driving domestic travel and making it the world’s biggest outbound travel market. Besides boosting our number of properties in China, Ascott is sharpening our competitive edge by having a stronger online presence. We now have one of the largest serviced apartment listings on Fliggy, which has more than 200 million users. Our penetration of the Chinese market both offline and online is already contributing to Ascott’s business worldwide.”
Slated to open in 2019, the 150-unit Citadines Dianchi Time Plaza Kunming is part of an integrated development, Time City, that is set to be a landmark in the heart of the Central Business District.
Of the seven new serviced residences, Tujia Somerset Garden City Chongqing is already operational while Ascott Yulian Plaza Dalian, Citadines Gaoke Liangjiang Chongqing, Citadines Three Gorges Yichang and Somerset Q Plex Shenzhen are slated to open in 2018. Citadines Dianchi Time Plaza Kunming and Tujia Somerset Yunlong Lake Xuzhou are expected to open in 2019. Please see Annex for further details on the new properties.
On 15 June 2016, Ascott launched its new lyf brand in China with two properties in Dalian and Shenzhen to seize opportunities in the booming millennial market and rising co-living trend. The Ascott Limited (Regn No: 197900881N) 168 Robinson Road #30-01 Capital Tower Singapore 068912 t (65) 6713 2888 f (65) 6713 2121 www.the-ascott.com “we define global living” Earlier this year, Ascott secured contracts to manage six properties in Changsha, Shenzhen, Tianjin, Wuhan, as well as two new cities – Handan and Xuzhou.
At the recent 2017 World Travel Awards Asia & Australasia ceremony held in Shanghai, Ascott was recognised as the finest in the industry by sweeping the top accolades of Asia’s ‘Leading Serviced Apartment Brand’; ‘Leading Serviced Apartments’ in Asia and China; as well as nine accolades for these categories across Hong Kong, Japan, Philippines, Singapore and Vietnam.
Targeted to open in 2018, Citadines Three Gorges Yichang is located in the city centre, with the scenic Yangtze River right at its doorstep.
Tujia Somerset Garden City Chongqing (operational) The 92-unit Tujia Somerset Garden City Chongqing is in an upscale residential district in the vibrant Jiefangbei Central Business District (CBD) that is filled with mega shopping malls and commercial skyscrapers. The serviced residence is well served by public transportation, including three metro subway lines, buses and cabs, providing easy connection to other parts of the city. Ascott’s third serviced residence in Chongqing resides within an eco-park that offers lush greenery, fountains and a restaurant. Guests will have access to facilities such as a gymnasium, swimming pool, breakfast corner, terrace, children’s play corner and pets’ playground. They can also choose from a variety of units, ranging from one- to four-bedroom apartments.
Ascott Yulian Plaza Dalian (opening 2018) The 161-unit Ascott Yulian Plaza Dalian enjoys a prime location in the heart of Jinpu New District, which has the largest land area among the country’s 13 national economic districts. The area is a hotspot for businesses and foreign investment with its conducive environment for enterprises. Over 60 Fortune Global 500 companies have set up in the area which also has thriving industrial parks, an e-commerce cluster and international schools. A 20-minute drive to the city area, Ascott Yulian Plaza Dalian is surrounded by shopping malls and office towers. It will provide a myriad of facilities such as an indoor swimming pool, children’s playground, games room, meeting room, auditorium, gymnasium and breakfast lounge. Guests will have a choice of one- and two-bedroom apartments.
Citadines Gaoke Liangjiang Chongqing (opening 2018) The 198-unit Citadines Gaoke Liangjiang Chongqing is located within an industrial park named Gaoke Fortune Park with a ready catchment of business executives from several GradeA office buildings nearby such as Chongqing Fortune Centre. Guests will enjoy convenience with Parkson department store, restaurants, bars and supermarket within the vicinity, and Chongqing Jiangbei International Airport a 30-minute drive away. The serviced residence will offer studio, one-, two- and three-bedroom units as well as facilities such as a gymnasium and breakfast lounge.
Citadines Three Gorges Yichang (opening 2018) The 192-unit Citadines Three Gorges Yichang is located in the city centre, with the scenic Yangtze River right at its doorstep. The serviced residence is part of an 80,000-square metre integrated development that also comprises an office tower. It is a 20-minute drive from the Yichang East Railway train station and 30-minute drive from the Yichang Sanxia Airport. Popular tourist attractions such as the Three Gorges, Golden Lion Cave and Xiling Gorge are within an hour’s drive. A popular tourist destination with about 50 million tourists each year, Yichang is also home to industries such as electronics, chemicals, pharmaceutical and equipment manufacturing. Guests can select from one- and two-bedroom units, as well as enjoy facilities such as a gymnasium, games room, meeting room, swimming pool and a breakfast area.
Somerset Q Plex Shenzhen (opening 2018)
The 244-unit Somerset Q Plex Shenzhen is well located in one of the most luxurious residential areas in Shenzhen. It is near the University of Hong Kong-Shenzhen Hospital and several tourist attractions including the Windows of the World, Happy Valley and Chinese Folk Village. It is also close to a science park that hosts technology companies including Tencent, ZTE and Huawei. Somerset Q Plex Shenzhen is part of an integrated development that also includes offices and a mall offering a variety of dining and entertainment options. Guests will have a choice of studio, one- to three-bedroom units, and have access to facilities such as a residents’ lounge and a gymnasium.
Citadines Dianchi Time Plaza Kunming (opening 2019)
The 150-unit Citadines Dianchi Time Plaza Kunming is part of an integrated development, Time City, that is set to be a landmark in the heart of the CBD. Time City will also comprise office and retail components, and will be directly connected to the future underground subway station that is expected to operate in 2020. The serviced residence is surrounded by office buildings, restaurants, bars, a mall, supermarket and movie theatre. Popular tourist attractions such as the Tien Lake and Yunnan Nationalities Village are nearby. It is a 15-minute drive from the Kunming Railway Station, as well as a 40-minute drive from Kunming Changshui International Airport. Citadines Dianchi Time Plaza Kunming will provide a range of studio to three-bedroom apartments, as well as facilities such as a gymnasium, swimming pool, spa, breakfast lounge, coffee shop, convenience store and a rooftop outdoor terrace offering unblocked city views.
Tujia Somerset Yunlong Lake Xuzhou (opening 2019)
Tujia Somerset Yunlong Lake Xuzhou is located in the intersection of the CBD and the city's well-known Yunlong Lake in Xuzhou, one of China's key transportation hubs with over 1,300 foreign enterprises. The 287-unit serviced residence is part of an integrated development that also comprises Citadines Yunlong Lake Xuzhou and an 80,000-square metre shopping mall. The property is right next to the upcoming metro station, which is expected to open in 2022. It is also a 15-minute drive from Xuzhou Railway Station. Guests can choose from a variety of apartments, including studio and one-bedroom apartments. Tujia Somerset Yunlong Lake Xuzhou will offer facilities such as a cafeteria, gymnasium, lounge and business centre.