Singapore-based Ascott has opened its first serviced residences in Hangzhou, China, and Hamburg, Germany, along with its second premier Ascott-branded serviced residence in Jakarta, Indonesia.
The company has also secured a management contract for its second Ascott-branded serviced residence in Dubai which is slated to open in 2017.
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The 104-unit Citadines Intime City Hangzhou is Ascott’s 35th property in China, while the 185-unit Ascott Kuningan Jakarta is the company’s eighth property to open in Indonesia.
The 127-unit Citadines Michel Hamburg is Ascott’s fourth serviced residence in Germany, adding to its current properties in Berlin, Munich and Frankfurt.
The 117-unit Ascott Culture Village Dubai will bolster Ascott’s portfolio in the GCC to 12 properties in Bahrain, Qatar, Oman, Saudi Arabia and the UAE.
Ascott’s chief executive officer Lee Chee Koon said: “There are significant growth opportunities for serviced residences globally. We have opened two new properties in China and Germany, which are key growth markets for Ascott.
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By GlobalData“Indonesia and GCC also offer immense potential for serviced residences. As the capital city of Zhejiang Province, Hangzhou’s foreign direct investment grew by an average of more than 9% annually in the last five years.
“Having our first property in the city will enable us to capture the demand as we also prepare to open Ascott Raffles City Hangzhou in 2017.”
Citadines Intime City Hangzhou offers guests a range of studios to two-bedroom apartments as well as facilities such as a gymnasium, café, billiard room, launderette, mini cinema, children’s play area, breakfast lounge, business centre and meeting rooms.
Citadines Michel Hamburg is situated in Hamburg’s business district, and offers studios, one and two-bedroom apartments withspacious work and living areas, fully-equipped kitchens with modern appliances such as microwave, refrigerator and dishwasher, as well as complimentary internet access.
Strategically located in Jakarta’s Central Business District, Ascott Kuningan Jakarta is part of Ciputra World 1, a large integrated development.
It offers one, two-, and three-bedroom apartments which come with a fully-equipped kitchen, separate living and dining areas, bathrooms with bathtub and rain shower, and other modern amenities.
Ascott Culture Village Dubai is set within the Dubai Culture Village along the shoreline of Dubai Creek, which houses residential, retail and commercial developments including schools, art galleries, performing arts centres, restaurants and designer boutiques.
