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Ascott boosts Chinese portfolio with 4 more serviced apartments
Singapore, June 24, 2014

THE Ascott has secured contracts to four more properties in China with one each in Taiyuan, Beijing, Shanghai and Dalian that will open between now and 2018.


Kevin Goh, managing director for North Asia, The Ascott, said: “China is one of Ascott’s fastest growing markets and we are pleased to establish our presence in the city of Taiyuan and near the China (Shanghai) Pilot Free Trade Zone (CSPFTZ).


“Taiyuan, the capital city of Shanxi province, is one of the most famous ancient cities in China and is well known for its vast natural resources. Our first serviced residence in Taiyuan will cater to the strong demand from the local business community and executives on project assignments particularly from the mining sector.


“We also see great potential in the CSPFTZ where favourable policies have already attracted many multinational companies to establish their presence there. This will drive significant demand for quality accommodation in the area.


“This year, besides two properties that have opened in Suzhou and Dalian, 10 more properties are slated to open by end of this year. We are confident of achieving our goal of 12,000 apartment units in China by 2015,” Goh added.


The 195-unit Somerset Grand Central Dalian, which recently opened, is located on Jinma Road in the CBD of Dalian Development area and close to popular attractions and scenic areas. One- to five-room units are on offer here with a range of facilities including an indoor heated swimming pool.


Somerset Sunland Shanghai is slated to open in 2016 as part of a mixed-use project close to CSPFTZ and Sunland Waigaoqiao development. Residents can choose from the serviced apartments’ 342 units of studios to three-bedroom apartments.


Also to open in 2016 is the 195-key Ascott Riverside Garden Beijing offering a prime location along West Dawang Road. It offers units in configurations ranging from studio to three-bedroom, as well as facilities such as a business centre and children’s playground.


Ascott Taiyuan is scheduled to debut in 2018 with 170 units, situated along Longcheng Street in Longcheng new district, a fast developing business district in Taiyuan. A 10-minute drive to the Taiyuan International Airport and the new high-speed railway station connecting to Beijing, the property features apartments in studio to three-bedroom arrangements. 

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