The Ascott Limited, CapitaLand’s wholly-owned serviced residence business unit, has secured a contract to manage its first Citadines-branded serviced residence in Chengdu.
Citadines South Chengdu is located in Chengdu’s Hi-tech District at the junction of Tianfu Street and Tianfu South Road. The serviced residence is part of the Chengdu ICON Genesis Plaza, a mixed development comprising office towers, restaurants and retail outlets.
Citadines South Chengdu offers a range of studios to two-bedroom apartments that come with a fully-equipped kitchen and separate work and sleeping areas. Facilities at the serviced residence include a gymnasium, sauna, roof garden, breakfast lounge, children’s indoor play area and meeting rooms.
Citadines South Chengdu is also surrounded by numerous Grade A office towers which house several multinational corporations including Nokia Siemens, Symantec, Maersk, Manulife Financial, Cisco, SAP, GE and IBM. Many facilities, attractions and shopping malls such as the Chengdu International Exhibition & Convention Center, Chengdu Ocean Park, Chengdu Opera House, GTC Shopping Center and Ito-Yokado Shopping Mall are located nearby.
The 177-unit Citadines South Chengdu is slated to open in 2014. Ascott is currently the largest international serviced residence owner-operator in China with about 8,000 apartment units in 43 properties across 17 cities.
In Chengdu, Ascott currently operates one Somerset-branded serviced residence and expects to open two premier Ascott-branded properties in the next two years. With this latest contract, Chengdu joins Shanghai and Suzhou as the third city in China with all three of Ascott’s award-winning brands of serviced residences.
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