CAPITALAND’S The Ascott will deepen its presence in China with the opening of Citadines South Chengdu, which it has secured a contract to manage.
The 177-unit residence is scheduled to welcome guests in 2014, joining the other 43 Ascott properties across 17 cities in China and making Chengdu the third city in the country with all three Ascott brands represented.
Ascott currently operates one Somerset serviced residence in Chengdu and will open two more premier Ascott-branded properties there in the next two years.
Lee Chee Koon, Ascott deputy CEO and managing director for North Asia, said: “Chengdu has strong growth opportunities for serviced residences. Its economy grew by more than 13 per cent for the first half of 2012 over the same period last year. In Central and Western China, Chengdu has been ranked the top city with the most Fortune 500 companies. Chengdu is also a popular tourist destination and venue for exhibitions and conferences.”
Citadines South Chengdu is situated at the junction of Tianfu Street and Tianfu South Road within the Chengdu Icon Genesis plaza, a mixed-use development that includes offices, restaurants and shops.
The property offers studio to two-bedroom apartments with fully-equipped kitchens, and houses facilities such as a gym, sauna, roof garden, breakfast lounge, children’s play area and meeting rooms.
