Citadines Cebu City. Credits: Ascott
ASCOTT has made its first foray into Cebu and Pattaya by securing five new contracts – one in the former and four in the latter – to manage a total of 875 apartment units.
The new management contracts add to Ascott’s 1,600 units in eight serviced residences and 2,800 units across 16 properties respectively in the Philippines and Thailand, placing the company as the largest international serviced residence owner-operator in both countries.
With 14 management contracts signed in South-east Asia this year, Ascott has added over 2,700 serviced residence units, more than triple the number of units added to the region this year compared to 2014.
Lee Chee Koon, CEO of Ascott, said: “We have ramped up our expansion in South-east Asia as we see a strong growth potential in the long-term. With more than 13,000 apartment units in 73 properties across eight countries in South-east Asia, over 30 per cent of Ascott’s global footprint is now concentrated in this fast-growing region.”
He added: “Ascott has been expanding beyond the capital cities to other areas with significant growth opportunities for serviced residences…We will continue to make inroads into new cities with strong growth potential and deepen our presence in the world’s capital cities to achieve our target of 80,000 units globally by 2020.”
Slated to open in 2019 as part of a mixed-use development, the contemporary 180-unit Citadines Cebu City will be located less than an hour’s drive from Mactan-Cebu International Airport, close to the business districts of Cebu Business Park and Cebu IT Park. Guests can choose from studios, one-bedroom units or two-bedroom serviced apartments.
Ascott’s four new properties in Pattaya, meanwhile, will be ready to welcome guests from 2018 onwards.
Citadines North Pattaya (Left) and Citadines Jomtien Beach Pattaya. Credits: Ascott
The 300-unit Citadines North Pattaya will appeal to corporate travellers from the nearby industrial estates while visitors will appreciate the prime location of the 150-unit Citadines Central Pattaya near the city’s bustling nightspots.
The 95-unit Citadines Jomtien Beach Pattaya will attract expatriates working at the nearby industrial estate in Rayong as well as leisure travellers at Jomtien Beach.
The luxurious 150-unit Somerset Wong Amat Beach Pattaya will cater to corporate guests on extended stays and families seeking exclusivity and tranquillity.
