The Ascott, CapitaLand's wholly-owned serviced residence business unit, has expanded its presence into Bali, Indonesia. It has won a contract from Indonesian developer PT Rudy Indopratama Sejahtera to manage a 174-unit serviced residence in Kuta, to be called Citadines Bali Kuta. The new serviced residence, which is targeted to open in 2012, will be located on the main arterial road of Jalan Raya Kuta,...
Service Apartment
CapitaLand's wholly-owned serviced residence business unit, The Ascott, has secured contracts to manage two more serviced residence properties in Xi'an and Shenzhen, China. This follows Ascott's recent expansion into Chengdu with the opening of Somerset Riverview, Chengdu in April. The latest additions - Somerset Gaoxin, Xi'an and Somerset Grandview, Shenzhen - are scheduled to open in 2012 and 2013...
The Ascott has invested A$168 million to develop its first Citadines serviced residence in Melbourne. Comprising 380 units, the new Citadines Melbourne on Bourke will be the company's largest Citadines-branded serviced residence in its global network. The launch of Citadines Melbourne further reinforces Ascott's foothold in Australia. It currently has a total of 884 apartment units in eight properties...
Conglomerate Fraser and Neave says its Frasers Hospitality unit has established a significant presence in Malaysia, with the grand opening of its maiden property, Fraser Place Kuala Lumpur yesterday. The project is the first of two serviced residences to open in the heart of the city. Fraser Place Kuala Lumpur is located in the prestigious 'Golden Triangle' and within walking distance of the iconic...
Service apartment operator Ascott Group plans to invest US$100 million over the next three years in Vietnam. The investment will double the number of its existing service apartments in that country to about 1,800. Currently, the company has about five existing service apartment properties under the Somerset brand in Hanoi and Ho Chi Minh city, offering about 900 units. Another three properties, with...
Going green has its rewards, especially for Treetops Executive Residences, managed by DTZ Debenham Tie Leung Hospitality Management Services. It has won them the prestigious Green Mark Gold Award, an accolade awarded by the Building and Construction Authority (BCA). Treetops is the first building under the service apartment industry category to receive this accolade. Beyond meeting the stringent criteria...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, said it has secured a contract to manage its second Citadines serviced residence in Indonesia. The contract was awarded by state-owned enterprise P-T Hutama Karya Persero. But it did not reveal to the value of the contract. Called Citadines Jakarta Rasuna, the 135-unit property is scheduled for completion by next year. It is...
CapitaLand's wholly-owned serviced residence business unit, The Ascott said it has been awarded a contract to manage a serviced residence in Danang, Vietnam's fourth largest city. The contract was awarded by the Korea Investment and Development Company, a real-estate consortium that specialises in commercial and residential developments across major cities in Vietnam. The serviced residence will be named...
Frasers Hospitality is expanding its presence in the Middle East. It has opened its Fraser Suites Seef Bahrain in the kingdom's business and entertainment district. The 19-storey property has 91 one or two bedroom suites and three penthouses. Frasers said is the only international-class accommodation with direct access to the city's exclusive Seef Mall. The property in Bahrain is the first of five that...
CapitaLand's wholly-owned serviced residence business unit The Ascott will open its second Citadines property in Japan on March 8. The new Citadines Kyoto Karasuma-Gojo follows the successful opening of Ascott's first Citadines serviced residence in Japan, the Citadines Tokyo Shinjuku, in March last year. The 124-unit serviced residence is a short walk from Kyoto's business district and tourist belt,...