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The Ascott, CapitaLand’s fully-owned serviced residence business unit, marked its 20th anniversary in China with the opening of its first property in Nantong and fourth property in Suzhou.
The first international-class serviced residence in Nantong, Ascott Harmony City Nantong is located within the financial hub near the Nantong Railway Station. The 164-unit serviced residence also enjoys direct access to the metro interchange station which is expected to be completed by 2020. Units types range from studio to three-bedroom apartments.
Somerset Baitang Suzhou is located in Suzhou Industrial Park (SIP), a high-tech park in China with over 2,000 multinational corporations. It offers 194 units ranging from one- to four-bedroom apartments.
“Ascott Harmony City Nantong and Somerset Baitang Suzhou will enjoy a ready pool of expatriates as well as business and leisure travellers given their proximity to business parks, commercial buildings, retail and dining outlets, and popular tourist destinations. With the opening of these two serviced residences, guests can now choose from our 56 operational properties in China,” said Tan Tze Shang, Ascott’s managing director for China and head of business development.
He revealed that Ascott has more than 20,000 units in over 110 properties across 33 Chinese cities.
“Within the next six years, Ascott plans to open over 50 properties in more than 20 Chinese cities such as Shanghai, Shenzhen, Hangzhou, Tianjin and Guangzhou,” he said.
“These will be tailored for different customer segments across our varied brands such as Ascott, Citadines, Somerset, Tujia Somerset and our latest coliving brand for the millennials, lyf.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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