The Ascott Limited is due to open its first Citadines property in South Korea, which will also mark the group’s largest property internationally, within the second half of 2015.
The 468-unit Citadines Haeundae Busan is located close to BEXCO, one of the largest exhibition and convention centres in South Korea, and Shinsegae Centum City department store.
It also offers easy access for residents needing to travel beyond the city – the Busan Gimhae International Airport is a 40-minute drive away, while the KTX train station can be reached within 20 minutes.
Lee Chee Koon, Ascott’s CEO, said: “We have been looking for opportunities to expand our presence in the market and see great potential in introducing our Citadines brand in South Korea.
“Busan is South Korea’s second largest metropolis after Seoul. It is home to the world’s fifth busiest seaport and is a leading tourist destination in South Korea. There is a growing expatriate community working in the shipbuilding, oil and gas, automotive and electronic manufacturing industries in Busan. Haeundae Beach, where Citadines Haeundae Busan is located, is also South Korea’s largest beach and attracts throngs of visitors each summer.”
Citadines Haeundae Busan will comprise studios and one-bedroom apartments, as well as a breakfast lounge.
