2007'02.11.Sun
/CORRECTION -- Ascott International, China/
December 21, 2006
In the news releases, "Ascott Opens Somerset
ZhongGuanCun in Beijing"
issued on Dec. 6 over Xinhua PR Newswire, we are advised by
the company that
the first paragraph should read "Ascott International
opened its latest
serviced residence in Beijing on December 8" rather
than "Ascott
International has opened its latest serviced residence in
Beijing." Readers
area also advised that all three references to "3,600
units" should
read "3,500 units". Fully correct release
follows:
Ascott Opens Somerset ZhongGuanCun in Beijing
- Ascott is Fast Expanding its Footprints in China to Over
3,500 units
BEIJING, Dec. 6 /Xinhua-PRNewswire/ -- Ascott
International has opened
its latest serviced residence in Beijing on December 8,
2006. Named Somerset
ZhongGuanCun, this 154-unit serviced residence was recently
acquired in
August this year, in line with the Group's target to triple
its portfolio in
China to 10,000 units by 2010.
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(Photo:
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This property is Ascott's fourth in Beijing and was
acquired from the
Beijing Yuanzhong Real Estate Development Co Ltd at a
purchase price of RMB
302 million. Ascott had made an additional investment of
RMB33.7 million
towards the refurbishments of the serviced residence.
To cater to the potential demand spurred on by the
upcoming Olympics
Games, there will be 172 units of ZhongGuanCun Residences
available for
corporate leasing starting from January 2007, on top of the
154 units of
serviced residences currently available in Somerset
ZhongGuanCun. All units
will be available to both short and long stay residents.
Mr. Lucas Loh, Managing Director of Ascott
International for China, and
Senior Vice-President of The Ascott Group said, "We
are strengthening our
positioning in the key Chinese cities of Shanghai, Beijing
and Guangzhou
while simultaneously expanding into potential secondary
cities like Suzhou
and Xi'an. 2006 has been a positive year for us. In
addition to opening
Somerset ZhongGuanCun in Beijing, we also soft opened the
first Citadines in
Shanghai this year, with plans for a grand opening soon.
We signed five
contracts this year and at least four more properties will
be opened very
soon."
"Going forward, our expansion strategy will be
carried out via the three
brands, Ascott, Somerset and Citadines throughout China.
Residents will get
to experience the unique Heartware culture of personalised
service from heart
that Ascott properties are well-known for," added Mr.
Loh.
Mr Johnson Chua, Area General Manager, North China for
Ascott
International said, "Somerset ZhongGuanCun is opening
at a timely period at
an excellent location and we are very confident it will do
well in Beijing.
We have already started to receive many enquiries for this
serviced residence
for both short and long stays, starting from now until the
lead-up to Beijing
Olympics 2008. Given the healthy economic indicators,
foreign investments
will continue to flow in beyond the Olympics period, demand
for serviced
residences will continue to grow."
The largest international serviced residence operator
in China, Ascott
International currently has over 3,500 units in 18
properties across China.
Somerset ZhongGuanCun, Beijing
Somerset ZhongGuanCun is located in the heart of
Zhongguancun, a high-
technology development zone, sometimes also known as the
Silicon Valley of
China. It combines all the requisites of contemporary
living with
conveniences that a discerning traveller needs.
Modern features with contemporary interiors
Designed to meet the needs of savvy business
travellers, this 17-storey
serviced residence offers residents one and two-bedroom
units with spacious
layouts, all tastefully designed and fully equipped for the
modern
traveller.
Each apartment is furnished with a home entertainment
system, fully-
equipped kitchen and has contemporary and stylish fittings
for its bedrooms,
living and dining areas. The serviced residence is also
fitted with a visual
intercom system for every individual apartment, providing a
secure living
environment.
Attractive location with convenient access
Located in the fast developing ZhongGuanCun area,
Somerset ZhongGuanCun
is only 15 minutes away from the Olympic Village, where the
2008 Beijing
Olympics will be held. The property is near the
ZhongGuanCun pedestrian
street and area, which have several malls retailing
computer products and
services. Somerset ZhongGuanCun is also near the Haidian
Theatre, Haidian
Medical Centre and the well-known universities of Tsinghua,
Peking and
Renmin. With two new metro lines in the pipeline, downtown
Beijing will soon
be easily accessible from Somerset ZhongGuanCun.
About Ascott International
Ascott International is a subsidiary of The Ascott
Group - the largest
international serviced residence owner-operator outside the
United States
with close to 17,000 serviced residence units in key cities
of Asia Pacific,
Europe and the Gulf Region.
Ascott International is the largest serviced residence
operator in China,
with over 3,500 serviced residence units in Shanghai,
Beijing, Guangzhou,
Dalian, Tianjin, Suzhou and Xi'an. Ascott International
targets to grow its
serviced residence portfolio in China to 10,000 units by
2010.
Ascott International manages three brands - Ascott,
Somerset and
Citadines -- in 43 cities in 18 countries. These include
London, Paris,
Brussels, Berlin and Barcelona in Europe; Singapore,
Bangkok, Pattaya, Hanoi,
Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing, Xi'an, Hong
Kong and Chennai
in Asia; Sydney, Melbourne and Auckland in Australia / New
Zealand as well as
Dubai in the Gulf region.
Ascott International's achievements have been
recognised
internationally. In China, it has clinched numerous
prestigious awards
including `Best Serviced Residence Brand' for the Ascott
and Somerset brand
at the Business Traveller China Awards 2006, ranked first
position in China'
s Top 100 Serviced Apartments Ranking, organised by World
Executive Weekly
magazine, Wall Street Post, China Real Estate Federation,
World Real Estate
and were presented with the Innovative Capital Venture
Award in the China
Hotel investment Summit 2006. For a full list of awards,
please visit:
http://www.the-ascott.com/AboutUs/awards.asp
The Ascott Group is headquartered in Singapore. It
pioneered Asia
Pacific's first branded luxury serviced residence in 1984.
It also
established the world's first pan-Asian serviced residence
real estate
investment trust, Ascott Residence Trust in 2006. Today,
the Group boasts a
22-year industry track record and serviced residence brands
that enjoy
recognition worldwide.
Listed on the mainboard of the Singapore Exchange, The
Ascott Group is
the serviced residence arm of CapitaLand Limited, one of
Asia's largest
listed property companies. Headquartered in Singapore, the
multinational
company's core businesses in property, hospitality and real
estate financial
services are focused in gateway cities in Asia Pacific,
Europe and the Gulf
Region. Its property and hospitality portfolio spans more
than 80 cities in
nearly countries.
For more information on The Ascott Group's property
listings, visit
http://www.the-ascott.com/AboutUs/ResiPortfolio.asp .
Ascott International's properties in China
In Beijing Ascott Beijing -- 272 units, Chaoyang
district
The luxury-tier residence in the city's CBD is close to
the China World
Trade Centre. It boasts designer fittings and extensive
facilities including
an indoor glass-roofed pool, fully equipped fitness centre,
and business
centre. Units range from elegant one-bedroom suites to
four-bedroom
penthouses.
Somerset Grand Fortune Garden, Beijing -- 221 units,
Chaoyang district
Located in the business area of Chaoyang district,
Somerset Fortune
Garden is near international schools, embassies and
entertainment centres.
Facilities include a gymnasium, indoor heated pool and
residents' lounge.
Units range from one to four-bedroom suites, with private
balconies and
scenic city views.
Somerset ZhongGuanCun, Beijing --154 units, Haidian
district
Located in the heart of ZhongGuanCun, a high technology
development zone,
Somerset ZhongGuanCun will open with one, two and three
bedroom units. The
area is home to high-tech industries, several research and
development
centres and easily accessible to public transportation.
Luxury Serviced Residence -- 100 units, Chaoyang
district
Located in Beijing's prime Chaoyang residential
district, the Luxury
Serviced Residence is near Scitech Plaza and Friendship
Store shopping malls,
Silk Market, Tiananmen Square, Forbidden City and
Jianguomen subway station.
Facilities include a gymnasium, sauna, business centre, and
lounge. Units
range from one to four-bedroom apartments.
In ShanghaiAscott Shanghai Pudong -- 248 units, Pudong
district
Boasting spectacular views of the Huangpu River, the
luxury-tier The
Ascott Pudong offers facilities such as a business centre,
indoor heated
pool, gym, sauna, indoor tennis court and residents'
lounge. Units range
from one to four-bedroom designer suites and elegant
penthouses.
Somerset Grand Shanghai -- 334 units, Luwan district
Located along Huai Hai Zhong Road, Somerset Grand
Shanghai is in the
heart of Shanghai's main business, shopping and dining
belt. Facilities
include an indoor heated swimming pool and an international
kindergarten.
Units range from one to three-bedroom suites.
Somerset Xu Hui, Shanghai -- 167 units, Xuhui district
Situated in the Xuhui residential estate, Somerset Xu
Hui is close to
shopping and entertainment facilities in Huai Hai Zhong
Road and Xujiahui.
Facilities include a gym, indoor heated pool, lounge and
tennis court. It
offers spacious one to three-bedroom suites.
Citadines Shanghai Jinqiao -- 260 units, Huangpu
District
The first Citadines branded serviced residence which
was opened in China,
this Citadines apart'hotel offering chic studios, one
bedroom and two
bedroom apartments is located nearby Shanghai's famous
Nanjing Road shopping
belt, and is a 10-minutes' walk to two metro stations. It
is also close to
People's Square, the Shanghai Municipal Government Building
and Shanghai
Museum.
In Guangzhou
Ascott Guangzhou -- 192 units, Tianhe district, Opening
2H 2007
Nearby are the new Guangzhou East Train Station, a
transit point for
travellers to and from Hongkong, Tianhe Sports Centre and
office towers with
banks, financial institutions and multinational companies.
It is also close
to Metro stations and shopping centres.
Springdale Serviced Residence -- 175 units, Tianhe
district
Located in the new Tianhe commercial and business
district, the new
property is close to Tianhe Sports Centre, Guangzhou Book
Store and shopping
centers. It offers studio to three-bedroom suites.
In Dalian
Somerset Harbour Court, Dalian -- 106 units, Zhongshan
district
Part of the prime Dalian Asia Pacific Finance Centre in
the city's
Central Business District, the residence is a stroll from
Dalian harbour's
passenger station and a five-minute drive from the railway
station.
Facilities include a gym, business centre and lounge. Units
comprise one and
two-bedroom suites.
In TianjinSomerset Olympic Tower -- 172 units, Heping
district
In the heart of Tianjin's prime upmarket shopping area
and residential
district, Somerset Olympic Tower is close to international
schools and the
Tianjin railway station. Facilities include an indoor
heated pool, gymnasium,
rooftop garden and barbecue area.
Somerset Youyi, Tianjin -- 268 units, Hexi District,
Opening 1H 2008
Located at 33 Youyi Road, Somerset Youyi is close to
the Tianjin
International Exhibition Centre and will cater to
expatriates working in two
of Tianjin's key industrial development zones -- Tianjin
Economic
Technological Development zone and Xiqing Economic
Development zone. The
residence will offer studio, one-bedroom and two-bedroom
units.
In Suzhou
Citadines Suzhou Xinghai -- 167 units, Opening 1H 2007
In the heart of Suzhou Industrial Park's Singapore
style residential
neighbourhood centre, it is conveniently close to shops and
restaurants, and
the Suzhou Singapore International School. The residence
will offer studio
and one-bedroom suites with recreational facilities.
Citadines Suzhou Emerald City -- 225 units, Opening 1H
2008
Citadines Suzhou Emerald City is located in the Suzhou
Emerald City
integrated development, which is slated to become the
entertainment and
business hub in Suzhou New District area, bringing together
the best in
retail, commercial, offices and residences in one
comprehensive development.
It will also be easily accessible via major highways and
connected to the
future Suzhou city mass transit system.
Citadines Suzhou Lejia -- 250 units, Opening 2H 2008
Citadines Suzhou Lejia is located between Xinhu Street
and Xiandai Dadao
within Suzhou Industrial Park, one of the world's fastest
growing and most
competitive development zones.
In Xi'an
Citadines Xi'an Central -- 133 units, Opening 1H 2007
Citadines Xi'an Central is situated in the Beilin
District of Xi'an and
is just a stone's throw away from the Bell Tower, the
historical city centre
landmark of Xi'an. Located in downtown Xi'an, it is within
1-minute
walking distance to Xidajie Street, a popular street with a
wide array of
shopping, dining, sports and entertainment facilities and
is also close to
office towers housing several multinational companies.
In Hong Kong
Citadines HongKong Ashley -- 36 units, Opening 2H 2006
Located in bustling Tsim Sha Tsui, Citadines HongKong
Ashley is minutes
away from the metro and close to office towers housing
multinational
companies, retail and food and beverage establishments.
Issued by: Ascott International, China
Level 5, 238 Zhaojiabang Road, Xuhui District, Shanghai
200031, China
For more information, please contact:
Ms. Jaime Kuek
Marketing Manager, China
Ascott International
Tel: +86-21-5175-8071
Cell: +86-13761556194
Email: jaime.kuek@the-ascott.com
Ms. Christine Wang
Marketing Communications Manager, Beijing
Ascott International
Tel: +86-10-6567-8100
Cell: +86-13381126997
Email: Christine.wang@the-ascott.com
SOURCE Ascott International, China
PR
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