Ascott To Manage New Serviced Residence In Shanghai

Singapore-based Ascott Group has been awarded a contract by Shanghai Li Xing Real Estate Development Company to manage a new serviced residence property in Shanghai.

The 282-unit Ascott Shanghai is part of the prestigious Hong Kong Plaza, an existing integrated lifestyle development in Shanghai that comprises shopping, entertainment and offices. It is only a short walk from Xintiandi, a well-known entertainment, shopping, and dining district with a wide range of cafes, restaurants, boutiques, and bars.

Ascott Shanghai is scheduled to open in 2010 at a time when the city will be receiving international guests attending the 84th World Expo. The serviced residence property is centrally located in Huaihai Zhong Road, Luwan District, one of the upmarket shopping areas in Shanghai. It is also near the Huangpi Nan subway station and People’s Square which houses an exhibition center, theaters, and museums.

Shanghai Li Xing Real Estate Development Co., Ltd is part of Lai Fung Holdings, a Hong Kong-listed property development and investment company.