Service Apartments

Home away from home

For many in a busy city, the office may be their second home but feels nothing like one. To reinvent your perception of working space, apbcOffices recently launched its latest project, 75 High Street, which it has refurbished to the tune of $5 million. The eight-storey serviced apartment looks and feels like a boutique hotel with a reception styled like a bartop, complete with a chess set, miniature...

Hospitality sector set for a rebound; serviced apartment segment to lead

The global hospitality sector is set to make a come back next year after several sluggish quarters. Observers told an industry seminar in Singapore that the serviced apartment segment in Asia will emerge the strongest. But hotels may struggle with fewer business travellers and an oversupply of hotel rooms. The hospitality sector has seen sluggish times since the start of the global downturn. But...

Ascott secures contract for serviced residence in Vietnam

The Ascott Group has secured a contract to manage a serviced residence property in Vietnam's third largest city, Hai Phong. It clinched the contract through Thuy Duong Investment Joint Stock Company, an established real estate company with developments across Vietnam's major cities. To be called Somerset Central TD, this will be Ascott's first serviced residence property in the coastal city of Hai Phong...

Frasers Hospitality embarks on serviced residences in New Delhi

Frasers Hospitality has signed a contract to manage its first Fraser Suites property in India's capital, New Delhi. The nine-storey, 90-unit Fraser Suites New Delhi is scheduled to open in October next year. The company said the property has an ecological design, aimed at optimising the use of solar energy for lighting, heating and electricity generation. Situated in the Mayur Vihar area, it is part of...

For them, a 25-year love affair

MR MASAMITSU Okada has been living in Singapore for the last 25 years. But instead of renting or buying a home, the Japanese expatriate has chosen to live in the same Ascott Somerset Liang Court serviced apartment for a quarter of a century. Not that housing is paid for by his company, as this benefit ceased 12 years ago when he retired from auditing firm Deloitte. Since then, he has been running his own...

Ascott opens two new serviced residence apartments in China

CapitaLand unit, Ascott, has opened two new serviced residence apartments in China. Somerset JieFangBei is in Chongqing, while Somerset Garden City is located in Shenzhen. The properties are Ascott's first in each city. Ascott now has 26 properties in 12 cities across China, making it the largest international serviced residence owner and operator in the country. Ascott CEO Lim Ming Yan said the...

Ascott opens latest property in northern China

CapitaLand's wholly-owned service residence business unit, Ascott, has opened its newest property in northern China. The property - called Somerset YouYi, Tianjin - is located in the heart of the downtown Hexi commercial district. The serviced apartment in Tianjin is the fifth property that Ascott has opened this year. Another eight will follow for the rest of this year, including three in...

Some developers may turn residential projects into serviced apartments

Some private property developers are thinking of turning their residential projects into serviced apartments. Ascott Hospitality said it has been approached by some developers recently, but declined to say which were considering such a move. Experts, however, said such conversions are unlikely to gain popularity in Singapore anytime soon as there are many factors against it. Private home sales may have...

Far East embarks on rebranding exercise for hospitality arm

Far East Organisation has launched its first-ever major rebranding exercise for its hospitality division. The property developer plans to rebrand its stable of 17 hotels and serviced residences in Singapore under new names. This was announced on Wednesday as Far East opened its first boutique hotel at Mount Elizabeth Road. Under the first phase of the rebranding, Far East will introduce a new "Village"...

Ascott expands its Citadines brand to Jakarta

Serviced apartment operator Ascott Group, a wholly owned subsidiary of CapitaLand, has secured a contract to manage its first Citadines serviced residences in Jakarta. Citadines Jakarta, located in the central business district of Menteng, will have 120 residence units and is scheduled to open in the second half of 2010. The group said there are plans to add another 100 units in the future. Citadines is...

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