Singapore – CapitaLand’s wholly owned lodging enterprise unit, The Ascott Restricted (Ascott), has clinched contracts to handle 14 properties with over 2,000 items throughout eight international locations – China, Germany, India, Indonesia, Japan, Malaysia, Thailand and Saudi Arabia. Three of the 14 new properties are beneath its coliving ‘lyf’ model, strategically positioned within the vibrant cities of Fukuoka in Japan, Kuala Lumpur in Malaysia and Shanghai in China.
Below a partnership with Japanese actual property firm, NTT City Growth Company – a subsidiary of Nippon Telegraph and Phone Company, Ascott will handle lyf Fukuoka1 in addition to collectively discover serviced residence alternatives in Japan. The 131-unit lyf property, nestled inside Fukuoka’s main retail and leisure centre, is focused to open in 2020. In the meantime, the 160-unit lyf Hongqiao Shanghai, strategically positioned within the Central Enterprise District of Hongqiao, is ready to open in 2022. lyf Raja Chulan Kuala Lumpur, which resides inside Kuala Lumpur’s Golden Triangle, the Malaysian capital metropolis’s industrial, purchasing and leisure hub, is scheduled to open in 2020.
Citadines Al Aziziyah Al Khobar
Ascott’s newest lyf properties in Fukuoka, Kuala Lumpur and Shanghai are set to take pleasure in a prepared catchment of company and leisure travellers given their prime areas within the cities’ main industrial and leisure hubs and proximity to tech unicorn firms. With these three new additions, Ascott has eight lyf properties with over 1,600 items beneath growth in Singapore, China, Japan, Malaysia, Thailand and the Philippines. Ascott can be ramping up for the opening of its first lyf property, lyf Funan Singapore, within the coronary heart of the city-state’s Civic & Cultural District, within the fourth quarter this yr.
Mr. Kevin Goh, Ascott’s Chief Govt Officer, mentioned: “Demand for our lyf-branded coliving properties is gaining floor. We’re bringing lyf to Fukuoka, Kuala Lumpur and Shanghai because the buzzing start-up ecosystems in these cities have given rise to a well-liked tradition of dwelling and cocreating as a group among the many millennials. Ascott’s lyf properties, with their versatile communal areas and social programmes, will cater to the life-style aspirations of inventive professionals, technopreneurs, trendsetters and millennial travellers who search collaborative and networking alternatives locally.”
Citadines Paras Sq. Gurugram
“Millennials already account for 1 / 4 of Ascott’s buyer base; and with our lyf model, we will seize alternatives offered by the booming millennial era, set to develop into the most important spending journey demographic within the close to future. Moreover Singapore, China, Japan,
Malaysia, Thailand and the Philippines the place we can be opening lyf properties, we’re additionally seeking to convey lyf to different potential markets together with Australia, France, Germany, Indonesia, and the UK.”
The 14 new properties marked Ascott’s first foray into Changchun, the second largest metropolis in Northeast China, and deepened its presence in Foshan, Hong Kong, Shanghai and Shenzhen, China; Frankfurt, Germany; Fukuoka, Japan; Gurgaon, India; Jakarta and Semarang, Indonesia; Kuala Lumpur, Malaysia; Pattaya, Thailand; and Al Khobar in Saudi Arabia.
Among the many 14 new properties is the 100-unit Ascott Riverpark Tower Frankfurt, to be designed by the world-famous architect Ole Scheeren. That is the primary time Ascott is bringing its premier Ascott The Residence model to Germany. Taking over a Jenga-like construction, the serviced residence will provide panoramic metropolis and river views when it opens in 2022.
Somerset Zhongmao Changchun
In the meantime, the 118-unit Citadines Hongqiao Mixc Shanghai is secured beneath Ascott’s strategic alliance with Nasdaq-listed Huazhu Resorts Group (Huazhu), considered one of China’s main lodge operators, and Huazhu’s subsidiary CJIA Flats Group. Citadines Hongqiao Mixc Shanghai is the fifth property beneath the alliance and is slated to open in 2019.
Below a strategic alliance with Ananda Growth, considered one of Thailand’s prime listed builders, Ascott can be managing the 324-unit Somerset Blue Coast Pattaya. lyf Sukhumvit eight Bangkok, set to open in 2020, can be one of many properties signed beneath this partnership.
Mr. Goh mentioned: “We have now continued to construct on our sturdy development momentum within the first quarter this yr and accelerated Ascott’s development throughout Asia Pacific, Europe and the Center East. Moreover administration contracts, Ascott’s strategic alliances with market leaders akin to NTT City Growth Company in Japan, Huazhu Resorts Group in China and Ananda Growth in Thailand proceed to supply us with a robust pipeline of properties. Along with the 14 new properties, we secured our first property in Australia beneath our lately launched Citadines Join model of select-service enterprise accommodations, extending our product choices to house owners and prospects. With our serviced residences and residences for company leasing concentrating on the lengthy keep section, to the middle-class enterprise accommodations beneath TAUZIA’s manufacturers and Citadines Join select-service enterprise accommodations for shorter stays, we are going to fast-track Ascott’s enlargement to realize our world goal of 160,000 items by 2023.”
Please consult with Annex A for the small print of the brand new properties added to Ascott’s portfolio and Annex B for extra info on the lyf model.
1 Tentative identify.
ContactJoan TanAssistant Vice President, Company CommunicationsPhone: +65 6713 2864Ship E-mail
About The Ascott Restricted
The Ascott Restricted is a Singapore firm that has grown to be one of many main worldwide lodging owner-operators. It has greater than 58,000 working items in key cities of the Americas, Asia Pacific, Europe, the Center East and Africa, in addition to over 43,000 items that are beneath growth, making a complete of greater than 101,000 items in over 670 properties.
The corporate’s serviced residence and lodge manufacturers embrace Ascott, Citadines, Citadines Join, Somerset, Quest, The Crest Assortment, lyf, Préférence, Vertu, Harris, Fox, Yello and POP!. Ascott’s portfolio spans greater than 170 cities throughout over 30 international locations.
Ascott, a completely owned subsidiary of CapitaLand Restricted, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. As we speak, the corporate boasts over 30 years of trade monitor report and award-winning manufacturers that take pleasure in recognition worldwide.
Ascott’s achievements have been recognised internationally. Current awards embrace DestinAsian Readers’ Alternative Awards 2019 for ‘Finest Serviced Residence Model’; World Journey Awards 2018 for ‘Main Serviced House Model’ in Asia, Europe and the Center East; TTG China Journey Awards 2018 for ‘Finest Serviced Residence Operator in China’; Enterprise Traveller Asia-Pacific Awards 2018 for ‘Finest Serviced Residence Model’; Enterprise Traveller UK Awards 2018 for ‘Finest Serviced House Firm’ and Enterprise Traveller China Awards 2018 for ‘Finest Luxurious Serviced Residence Model’. For a full listing of awards, please go to https://www.the-ascott.com/ascottlimited/awards.html.
About CapitaLand Restricted
CapitaLand Restricted (CapitaLand) is considered one of Asia’s largest actual property firms. Headquartered and listed in Singapore, it’s an proprietor and supervisor of a worldwide portfolio price over S$100 billion as at 31 December 2018, comprising built-in developments, purchasing malls, lodging, places of work, houses, actual property funding trusts (REITs) and funds. CapitaLand’s market capitalisation is roughly S$13 billion as at 31 December 2018. Current throughout greater than 180 cities in over 30 international locations, the Group focuses on Singapore and China as core markets, whereas it continues to broaden in markets akin to Vietnam, Europe and the U.S.
CapitaLand’s aggressive benefit is its important asset base and intensive market community. Coupled with intensive design, growth and operational capabilities, the Group develops and manages high-quality actual property services and products. It additionally has one of many largest funding administration companies in Asia and a secure of 5 REITs listed in Singapore and Malaysia – CapitaLand Mall Belief, CapitaLand Industrial Belief, Ascott Residence Belief, CapitaLand Retail China Belief and CapitaLand Malaysia Mall Belief.
Go to www.capitaland.com for extra info.