THE Ascott is “on track” to meet its target of 12,000 apartment units in China by 2015, having recently secured contracts to manage three more properties.
The 150-unit Ascott Nanbin Chongqing and the 167-unit Somerset Software Park Xiamen are both due to open in 2015, while the 250-unit Somerset Swan Lake Hefei will welcome guests in 2017.
Kevin Goh, managing director for North Asia, The Ascott, said: “Besides first-tier cities, we are also growing our presence in China’s high-growth cities such as Hefei, Chongqing and Xiamen where strong economic growth and foreign investment have generated a large demand for serviced residences.”
Ascott Nanbin Chongqing is situated on Nanbin Road in the Nan An District, a 15-minute drive from the Yuzhong Central Business District and provides a range of studio to two-bedroom apartments.
Somerset Software Park Xiamen forms part of the Xiamen Software Park, close to Xiamen Airport and Xiamen Exhibition Centre. It features apartments in studio to three-bedroom configurations.
Somerset Swan Lake Hefei is part of the Park Lane Plaza mixed-use development. The property offers easy access to rail stations and the airport and guests can choose from studio to three-bedroom units, and comes with a spa.
All apartments in the properties above come with a fully-equipped kitchen, separate work and sleeping areas and facilities such as a gym, business centre, meeting room, breakfast and residence lounges, swimming pool and children’s play area.
Commented Lee Chee Koon, CEO, The Ascott: “China is our key market and we are growing rapidly through management contracts, investments and strategic alliances. We are on track to achieve our target of 12,000 apartment units in China by 2015.”
This year, the company has entered six cities – Hefei, Nanjing (TTG Asia e-Daily, April 9, 2013) and Wuxi (TTG Asia e-Daily, May 15, 2013) in China, Gurgaon in India (TTG Asia e-Daily, June 27, 2013), and Riyadh (TTG Asia e-Daily, May 21, 2013) and Jeddah (TTG Asia e-Daily, June 4, 2013) in Saudi Arabia.
