Press release
ASCOTT OPENS SEVENTH PROPERTY IN THE PHILIPPINES BRINGS CITADINES TO ANOTHER KEY FINANCIAL DISTRICT IN METRO MANILA
Singapore, 11 July 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), continues to expand its presence in the Philippines with the opening of its seventh property in the country – the 293-unit Citadines Millennium Ortigas Manila – and its first in Ortigas Center, a key central business district in Metro Manila. Ascott, the largest international serviced residence company in the Philippines, plans to open another nine serviced residences across Metro Manila, Cebu and Iloilo from 2018 to 2023.
Mr Arthur Gindap, Ascott's Regional General Manager for the Philippines and Thailand, said: “The opening of Citadines Millennium Ortigas Manila marks Ascott’s first foray into Ortigas Center, the Philippines’ second most important financial district after Makati where we have an established presence with four operating properties. Our first Citadines in the Philippines, Citadines Salcedo Makati, is performing well with an occupancy rate of 80%. Bringing Citadines to the heart of Ortigas Center expands our reach to a ready catchment of expatriates and business travellers. Guests at Citadines Millennium Ortigas Manila can enjoy the bustling area with a wide variety of shopping, dining and entertainment options nearby, as well as the flexibility to personalise their stay with the services they require.”
Citadines Millennium Ortigas Manila is strategically located in the heart of Ortigas Center, that is home to government buildings, and top local and multinational corporations including the Asian Development Bank, Jollibee Food Corporation, Meralco, San Miguel Corporation and the World Bank. Vast recreational and dining options are available in nearby shopping malls such as Robinsons Galleria, SM Megamall and The Podium, as well as entertainment hubs in Makati City, Greenhills in San Juan and Quezon City. Educational institutions such as Saint Pedro Poveda College and La Salle Green Hills, and an internationally accredited medical facility, The Medical City, are also within the vicinity of the property.
Mr Gindap added: “We continue to see strong potential for growth in the Philippines, which is forecasted by the World Bank to grow close to 7% annually over the next three years, making it one of the top performing economies in East Asia. Ascott has an established 17-year track record in the Philippines having grown our portfolio to 16 serviced residences with over 3,400 units, comprising three award-winning brands. This includes nine properties with more than 1,900 units that we plan to open in the next six years.”
Citadines Millennium Ortigas Manila is a 10-minute walk to the Ortigas MRT Station, and about a 50 minute-drive to Ninoy Aquino International Airport. The serviced residence offers 293 contemporary units ranging from studio to one-, two- and three-bedroom apartments. Facilities such as a residents’ lounge overlooking the city, swimming pool, fitness centre, restaurants, function rooms, and garden deck are available.
To mark the opening of the property, Citadines Millennium Ortigas Manila is offering attractive daily opening rates starting from PHP 4,000++ from now till September 2017.
In the Philippines, Ascott currently manages Ascott Bonifacio Global City Manila, Ascott Makati, Citadines Salcedo Makati, Somerset Alabang Manila, Somerset Millennium Makati and Somerset Olympia Makati.
About The Ascott Limited:
The Ascott Limited is a Singapore company that has grown to be one of the leading international serviced residence owner-operators. It has over 40,000 operating serviced residence units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as well as over 27,000 units which are under development, making a total of more than 67,000 units in over 500 properties. The company’s brands include Ascott, Citadines, Somerset, Quest, The Crest Collection, and lyf. Ascott’s portfolio spans more than 120 cities across over 30 countries.
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 serviced residence brands that enjoy recognition worldwide.
Ascott’s achievements have been recognised internationally. Recent awards include World Travel Awards 2017 for ‘Leading Serviced Apartment Brand’ in Asia; DestinAsian Readers’ Choice Awards 2017 for ‘Best Serviced Residence Brand’; TTG China Travel Awards 2017 for ‘Best Serviced Residence Operator in China’; Business Traveller Asia-Pacific Awards 2016 for ‘Best Serviced Residence Brand’; Business Traveller Middle East Awards 2016 for ‘Best Serviced Apartment Company’; Business Traveller UK Awards 2016 for ‘Best Serviced Apartment Company’ and Business Traveller China Awards 2016 for ‘Best Serviced Residence Brand’. For a full list of awards, please visit www.the-ascott.com/ascottlimited/awards.html.
About CapitaLand Limited:
CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than S$78 billion as at 31 March 2017, comprising integrated developments, shopping malls, serviced residences, offices, homes, real estate investment trusts (REITs) and funds. Present across more than 140 cities in about 30 countries, the Group focuses on Singapore and China as core markets, while it continues to expand in markets such as Vietnam and Indonesia.
CapitaLand’s competitive advantage is its significant asset base and extensive market network. Coupled with extensive design, development and operational capabilities, the Group develops and manages high-quality real estate products and services. It also has one of the largest investment management businesses in Asia and a stable of five REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.
Visit www.capitaland.com for more information.
Issued by: The Ascott Limited
Website: www.the-ascott.com
168 Robinson Road
#30-01 Capital Tower
Singapore 068912
This release was published on openPR.
Permanent link to this press release:
Copy
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 OPENS SEVENTH PROPERTY IN THE PHILIPPINES BRINGS CITADINES TO ANOTHER KEY FINANCIAL DISTRICT IN METRO MANILA here
News-ID: 618451 • Views: …
More Releases from CapitaLand Limited
Ascott Residence Trust Clinches Fourth Student Accommodation Asset With Acquisit …
Ascott Residence Trust (ART) will acquire a freehold 548-bed student accommodation asset, named Seven07 in Champaign, Illinois, USA for US$83.25 million[1] (S$112.4 million[2]). Seven07 serves about 56,000 undergraduate and graduate students from the nearby University of Illinois Urbana-Champaign (UIUC). The yield-accretive acquisition is set to increase ART’s pro forma FY 2020 Distribution per Stapled Security by approximately 1.2%[3]. The entry EBITDA[4] yield is expected to be about 4.5% and is…
ASCOTT OPENS JAPAN’S FIRST LYF COLIVING PROPERTY IN THE VIBRANT FUKUOKA CITY
Singapore, 15 June 2021 – CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), will be opening lyf Tenjin Fukuoka, Ascott’s first lyf-branded coliving property in Japan on 16 June 2021. lyf Tenjin Fukuoka is the first of six lyf properties that are slated to open this year in Singapore, Hangzhou, Shanghai and Xi’an, as Ascott gears up to meet the strong demand by customers and property owners for…
CapitaLand continues portfolio reconstitution strategy by divesting three retail …
CapitaLand has divested three retail malls in Japan and an office building in Korea for a total of S$448.7 million as part of its ongoing portfolio reconstitution strategy. The buyers are unrelated third parties. The agreed value of the properties was arrived on a willing-buyer and willing-seller basis.
In Japan, CapitaLand has divested La Park Mizue and Vivit Minami-Funabashi in Greater Tokyo, as well as CO-OP Kobe…
ASCOTT ACHIEVES RECORD HIGH SIGNINGS OF OVER 5,600 UNITS IN CHINA TO DATE DESPIT …
CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott) has secured more than 2,100 new units across 12 properties in China in the last three months. With these new units, Ascott has added a record high of more than 5,600 units across 26 properties, which represent a 60% year-on-year growth in units in China. Globally, Ascott has sealed new contracts for more than 3,700 units across 22 properties; about…
More Releases for Ascott
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 Opens Its First Serviced Residence In Cambodia
Singapore, 7 November 2017 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has today opened its first serviced residence in Cambodia, CASA Meridian Residence, in Phnom Penh’s up-and-coming residential and retail hub of Diamond Island (Koh Pich). CASA Meridian Residence offers 75 fully-furnished residences on the top 13 floors of the 34-storey integrated development CASA by Meridian, which also comprises a high-end shopping mall, premium office spaces…
ASCOTT OPENS ITS FIRST CITADINES APART’HOTEL IN VIETNAM
Citadines Bayfront Nha Trang marks the entry of Ascott’s fastest growing brand and the only international-class serviced residence in the city
Singapore, 17 July 2017 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has opened its first Citadines Apart’hotel in Vietnam and expanded its footprint to a key tourism hub, Nha Trang. Citadines Bayfront Nha Trang is the first international-class serviced residence in the coastal city. It…
ASCOTT WINS BIG AT THE 2016 WORLD TRAVEL AWARDS
Amongst Ascott’s three industry accolades is the prestigious ‘Leading Serviced Apartment Brand’ award for the Middle East
Singapore, 10 October 2016 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has scooped three top industry accolades at the World Travel Awards Middle East. Beating off fierce regional competition, Ascott was named this year’s ‘Leading Serviced Apartment Brand’ for the Middle East. Individual property honours also went to…
ASCOTT THAILAND SUCCESSFULLY REACHES GOAL TO RAISE OVER 100K FUNDS FROM ASCOTT C …
Singapore, 7 October 2016 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), with the support of CapitaLand Hope Foundation (CHF), has recently organised its first Ascott Charity Run in Thailand. The objective of this event is to raise funds for over 500 underprivileged students at the Doi Wiangpha Pittaya School – a remote hill-tribe school in Chiang Rai province.
Ascott Charity Run 2016 was held at the Lumpini…
ASCOTT SETS THE BENCHMARK FOR LUXURY LIVING IN THE PHILIPPINES WITH ITS NEWLY RE …
Singapore, 26 September 2016 – CapitaLand’s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has unveiled newly renovated apartments and facilities at its premier serviced residence in the Philippines, the Ascott Makati, setting the benchmark for luxury living in the heart of Makati’s Central Business District.
Conveniently located within Glorietta Shopping Complex and surrounded by restaurants, entertainment and shopping malls, one of the two towers at the 362-unit Ascott…
