ASCOTT STEPS UP EXPANSION IN SINGAPORE WITH FOUR PROPERTY OPENINGS BY END OF YEAR
Mr Ervin Yeo, Ascott’s Regional General Manager for Singapore, Malaysia and Indonesia, said: “We are on a strong growth trajectory, with our presence in our home market of Singapore expanding by over 60% in the past two years. We have a record opening of four properties this year and another four are expected to open by 2021. This is a testament of Ascott’s well-established reputation and management excellence. With the government’s pro-business policies as well as exciting initiatives to rejuvenate the city and attract investors and tourists, we see strong demand for international-class lodging properties. We will further step up Ascott’s presence in Singapore through strategic acquisitions, partnerships, management contracts, franchises and leases.”
“We are expanding our product offerings in Singapore with new-to-market brands including the ‘lyf’ coliving brand and Citadines Connect, a line of business hotels with select services. Ascott is also managing Huazhu Hotels Group’s first hotel outside of China under its Ji Hotel brand. We are confident that our new properties will appeal to both business and leisure travellers given their excellent locations surrounded by commercial buildings, tourism attractions, and innovative retail hubs.”
Mr Yeo added: “Following the bumper openings this year, we look forward to the opening of four more well-located properties in Singapore under the Citadines and lyf brands in the next two years. As more of these properties open and turn fully operational, it will position us well to expand our recurring income base to deliver sustainable returns.”
Ascott’s four property openings in Singapore this year will add 846 units to the lodging scene. The first amongst the four properties to open is lyf Funan Singapore, followed by Citadines Balestier Singapore and Ji Hotel Orchard Singapore in September, while Citadines Rochor Singapore is slated to open in December. To meet rising demand for short-stay accommodation, lyf Funan Singapore, Ji Hotel Orchard Singapore and Citadines Rochor Singapore will have the flexibility of taking in daily stays under full hotel licenses. Guests can now book lyf Funan Singapore and Citadines Balestier Singapore on Ascott’s website (www.the-ascott.com) and enjoy opening promotions.
lyf Funan Singapore is Asia’s largest coliving property and the world’s first property under Ascott’s ‘lyf’ coliving brand that is designed for millennials and millennial-minded. Located in the heart of Singapore’s Civic & Cultural District as part of the Funan integrated retail and commercial development, it offers a dynamic environment for social networking, collaboration and community building.
With proximity to the Novena MRT station, Citadines Balestier Singapore will be the best hospitality product in the area. Apart from sitting atop a three-storey retail podium, the immediate vicinity offers an array of shopping and dining options. It is a short drive to the Orchard Road shopping district and the Central Business District.
Ji Hotel Orchard Singapore is Huazhu Hotels Group’s first property outside China where it has more than 4,000 hotels including over 600 Ji Hotels. It has a prime location next to Orchard Road shopping belt. Within walking distance to Dhoby Ghaut MRT Station and CapitaLand’s iconic mall Plaza Singapura, it is surrounded by cultural, leisure and retail attractions as well as commercial buildings.
Citadines Rochor Singapore will be part of an integrated development that will also comprise a retail podium, Tekka Place. With the Rochor MRT station right at its doorstep and two other MRT lines within walking distance, the serviced residence is next to the burgeoning Ophir-Rochor Corridor and Beach Road area – emerging commercial hubs with large-scale integrated developments and recreational spots.
Targeted for opening in 2021, Citadines Connect City Centre Singapore is Ascott’s first Citadines Connect property in Singapore. It is a stone’s throw away from Dhoby Ghaut MRT station and Plaza Singapura, with proximity to the vibrant fashion and retail district in Orchard Road. It caters to highly mobile business travellers who appreciate convenience, fuss-free services, online connectivity and recreational experiences.
Besides Citadines Connect City Centre Singapore, Ascott is slated to open Citadines Raffles Place Singapore, lyf Farrer Park Singapore and lyf one-north Singapore in the next two years.
Other operating properties in Singapore include Ascott Orchard Singapore, Ascott Raffles Place Singapore, Citadines Fusionopolis Singapore, Citadines Mount Sophia Singapore, Somerset Bencoolen Singapore and Somerset Liang Court Singapore.
Ascott’s strong growth in Singapore is buoyed by the city-state’s increasing popularity as a top destination for travel, business and investments. Singapore is the world’s second most competitive economy given its open market and world-class infrastructure. Visitor arrivals to Singapore also hit a record high last year, with an increase of 6.7% to 18.5 million. Singapore is also ranked the world’s second best destination for expatriates due to its thriving regional economy as well as bilingual and multicultural environment.
See Annex for more information on the new properties.
 “The Global Competitiveness Report 2018” (2018), World Economic Forum
 “Year-In-Review” (2018), Singapore Tourism Board
 “HSBC Expat Survey” (2019), HSBC
- ANNEX -
First Citadines Connect business hotel in Singapore under a franchise agreement:
Citadines Connect City Centre Singapore (Opening 2021)
Primely located next to Singapore’s iconic shopping belt Orchard Road and along Clemenceau Avenue, the 169-unit Citadines Connect City Centre Singapore is situated within walking distance to Dhoby Ghaut MRT Station and Plaza Singapura. Guests can enjoy convenient access to major attractions, entertainment, shopping, cafes and restaurants. It offers studio apartments averaging 19 sqm, as well as facilities including a business center, rooftop terrace restaurant, swimming pool, outdoor terrace and gymnasium.
New property openings:
lyf Funan Singapore (Open for online bookings from 2 September 2019)
新加坡 lyf 福南共享公寓
Located in the heart of Singapore’s Civic & Cultural District, lyf Funan Singapore is at the epicentre of the city-state’s buzzing retail, commercial, social and cultural belt. It is also part of CapitaLand’s integrated development Funan. Spanning about 121,000 square feet in gross floor area, lyf Funan Singapore houses 412 rooms across 279 apartments. The nine-storey coliving property has easy access to the City Hall MRT interchange that is well-connected to the rest of the city. lyf Funan Singapore offers five apartment types ranging from 18 square metres to 105 square metres to accommodate single, dual or group bookings. It also offers communal spaces such as a coworking lounge, social kitchen and laundrette.
Citadines Balestier Singapore (Opening soon in September 2019)
The 166-unit Citadines Balestier Singapore is a 15-minute walk to the Novena hub and MRT station. It is an eight-minute drive to Orchard Road shopping district, a 10-minute drive to Raffles Place financial area, and is well connected to the expressways. The serviced residence sits atop a three-storey retail podium offering a variety of dining and shopping options. Guests of Citadines Balestier Singapore can select from studio apartments and one-bedroom units. Facilities include a swimming pool, outdoor fitness area with a running track, social pavilion, children’s playground and barbeque pit.
Ji Hotel Orchard Singapore (Opening soon in September 2019)
Ji Hotel Orchard Singapore enjoys a strategic location next to Singapore’s shopping belt Orchard Road. Located at 11 Penang Lane, it is a few minutes’ walk from Dhoby Ghaut MRT Interchange and CapitaLand’s popular retail mall Plaza Singapura. The hotel is surrounded by a wide variety of retail, leisure and dining options, commercial towers, Singapore Management University as well as cultural attractions such as Fort Canning Park, National Museum of Singapore, Istana Heritage Gallery and Singapore Art Museum. Spanning a gross floor area of over 32,000 square feet, the hotel will offer 81 rooms and facilities including a common laundromat area and fitness corner.
Citadines Rochor Singapore (Opening December 2019)
Citadines Rochor Singapore is part of an upcoming integrated development that will also comprise a retail podium, Tekka Place. It is close to three MRT stations, and is in proximity to the famous shopping street Orchard Road and Little India. At its doorstep is the Rochor MRT station that sits on the Downtown Line, Singapore’s longest underground MRT line which will facilitate direct travel from the north-western and eastern areas of the island to the Central Business District and Marina Bay areas. The serviced residence is also within walking distance from Jalan Besar and Little India MRT stations, providing easy access to the rest of the city. About 80% of the 320 units at Citadines Rochor Singapore are studio apartments, while the remaining are one-bedroom and loft apartments. The property will offer facilities such as a residents’ lounge, residents’ kitchen, fitness corner, laundrette, swimming pool and outdoor multifunctional spaces for social gatherings and events.
For more information, please contact:
Joan Tan, Vice President, Group Communications
CapitaLand Limited 凯德集团
168 Robinson Road #30-01 Capital Tower Singapore 068912
Tel: (65) 6713 2864
Mobile: (65) 9743 9503
Chen Meihui, Manager, Group Communications
CapitaLand Limited 凯德集团
168 Robinson Road #30-01 Capital Tower Singapore 068912
Tel: (65) 6713 3676
Mobile: (65) 8133 8334
Angela Lau, Marketing Manager for Singapore
The Ascott Limited
2 Anthony Road, Singapore 229956
Tel: (65) 6500 3439
Mobile: (65) 9322 2087
About The Ascott Limited
The Ascott Limited is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott's portfolio spans more than 170 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA. Ascott has more than 65,000 operating units and over 45,000 units under development, making a total of more than 110,000 units in over 700 properties. The company’s serviced residence and hotel brands include Ascott, Citadines, Citadines Connect, Somerset, Quest, The Crest Collection, lyf, Préférence, Vertu, Harris, Fox, Yello and POP!. Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide. Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2019 for ‘Leading Serviced Apartment Brand’ in Europe and the Middle East; DestinAsian Readers’ Choice Awards 2019 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2019 for ‘Best Serviced Residence Operator in China’; World Travel Awards 2018 for ‘Leading Serviced Apartment Brand’ in Asia, Europe and the Middle East; Business Traveller Asia-Pacific Awards 2018 for ‘Best Serviced Residence Brand’; Business Traveller UK Awards 2018 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2018 for ‘Best Luxury Serviced Residence Brand’.
For a full list of awards, please visit https://www.the-ascott.com/ascottlimited/awards.html.
About CapitaLand Limited
CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth S$129.1 billion as at 30 June 2019. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 200 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA. CapitaLand has one of the largest real estate investment management businesses globally. It manages eight listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. Since it pioneered REITs in Singapore with the listing of CapitaLand Mall Trust in 2002, CapitaLand’s REITs and business trusts have expanded to include Ascendas Reit, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust, CapitaLand Malaysia Mall Trust and Ascendas Hospitality Trust.
Visit www.capitaland.com for more information.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release ASCOTT STEPS UP EXPANSION IN SINGAPORE WITH FOUR PROPERTY OPENINGS BY END OF YEAR here
News-ID: 1829453 • Views: 160
More Releases from CapitaLand Limited
ASCOTT EXPANDS GLOBAL PRESENCE WITH 26 NEW PROPERTIES ACROSS 11 COUNTRIES
CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is accelerating its growth globally with the signing of 26 properties with over 6,000 units across 22 cities and 11 countries. The properties, which will open in phases from 2019 to 2023, are mostly signed under management contracts, with three on franchise agreements. To date this year, Ascott has signed contracts for over 40 properties with more than 8,000 units,
ASCOTT WINS EUROPE’S LEADING SERVICED APARTMENT BRAND AT WORLD TRAVEL AWARDS 2 …
Accorded seven accolades including top awards across Belgium, Germany, Spain and Turkey Singapore, 11 June 2019 – The Ascott Limited (Ascott) has won Europe’s Leading Serviced Apartment Brand 2019 for its Citadines properties for the fourth year running, along with six other awards at this year’s World Travel Awards. The annual event, held on 8th June in Madeira, Portugal, recognises leadership and excellence across all sectors of the global travel and
Ascott transforms digital ecosystem to support rapid expansion as global lodging …
Singapore, 23 April 2019 – CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is embarking on a digital ecosystem transformation to support its fast-expanding global lodging portfolio. Ascott aims to drive revenue growth, improve operational efficiency and enhance value to its customers and business partners through a comprehensive front-to-backend systems makeover. In addition to its launch of Ascott Star Rewards, the world’s first loyalty programme in the serviced
ASCOTT UNVEILS CITADINES CONNECT BUSINESS HOTELS TO EXPAND SHORT-STAY OFFERINGS
A sub-brand of the established Citadines serviced residence brand, Citadines Connect business hotels with limited services cater to highly mobile, constantly connected travellers Singapore, 27 March 2019 – CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), has launched Citadines Connect, a line of business hotels with selected services, to widen its short-stay offerings as it continues to grow its portfolio. A sub-brand of Ascott’s well-established Citadines serviced residence brand,
More Releases for Singapore
ITIL Singapore Certification Training at Vinsys. Get ITIL Training with EXIN & PeopleCert Accredited ITIL Certification Training with IT Tactic of Business Vision ITIL Singapore. ITIL Foundation Singapore is the most widely recognized entrance-level ITIL certification for IT professionals. IT departments need qualified specialists who can carry effective IT services. This ITIL Singapore training will show you the ITIL Singapore services lifecycle, how lifecycle steps are linked, processes elaborate, and finest
Baby Food in Singapore
The Singaporean baby food market is small in terms of total size, but highly developed in terms of per capita consumption. The fluctuations in the number of births have a clear effect on sales. In value terms, almost 90% of the market consists of baby milks, with the bulk of the remainder split between baby meals/drinks and baby cereals in 2015. In volume terms, milk accounts for 76.9%, wet meals
Jewellery Market in Singapore
Summary This report helps to analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Jewellery in Singapore Description Consumers in Singapore are becoming more adventurous and are increasingly opting for exclusive and unique designs to differentiate themselves. For example, there is growing demand for non-diamond engagement rings in Singapore, with home-grown label Carrie K witnessing a 15% boost in sales for
Hosiery in Singapore
Orbis Research delivers key insights on the Hosiery market in a new report titled “Hosiery in Singapore” In this report, Orbis Research sheds light on the various factors and trends impacting market growth over the forecast period. Hosiery in Singapore is an accessory, not a daily necessity, due to the hot and humid climate. Therefore its growth largely depends on fashion trends, particularly men’s desire to accessorise with the colourful addition
WBLCA & Technology Seminar Singapore
Just as technology has reshaped how individuals communicate and how organizations do business, it also having a profound impact on the practice of law. Technological developments are affecting management strategies in corporate legal departments, and changing how legal services are delivered. Venue: Singapore (Hotel Mandarin) Date: 15 May 2016 Registration: 8.15am to 9.00am (Singapore Time) Event: 9.00am to 5.00pm WBLCA & Technology Seminar examines both the: (a) legal challenges (b) opportunities
Avolution Opens Singapore Office
Avolution, developer and supplier of software solutions for enterprise modeling, planning and IT strategy, announced today that it has opened a South East Asian office in Singapore. The announcement follows strong growth throughout 2014, which is projected to increase further over the next twelve months. “South East Asia continues to be a strong region for Avolution,” said Mark Denford, Asia-Pacific Manager, “and Singapore is at the centre of this growth. Singaporean government