Ascott Opens New Properties in Shenzhen and Shenyang

Singapore-based CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited, recently opened two new serviced residence properties, in Shenzhen and in Shenyang.

The 199-unit Ascott Maillen Shenzhen is the first Ascott-branded property in Shenzhen and the 270-unit Somerset Heping Shenyang is Ascott's first property in Shenyang. The new properties reinforce the company's position as the largest international serviced residence owner-operator in China with over 6,400 apartment units in 35 properties across 15 cities.

Commenting on the openings Lee Chee Koon, Ascott's managing director for North Asia, stated that they see tremendous potential in bringing its premium Ascott brand to Shenzhen as the city continues to attract business and leisure travellers with its close proximity to Hong Kong. He added that their new properties will be able to tap the strong demand for quality accommodation in the two cities and expanding into Shenyang will also enable them to establish their foothold in North China as they continue to extend their presence in the country.

The Ascott Limited is the world's largest international serviced residence owner-operator with over 21,000 operating serviced residence units in key cities of Asia Pacific, Europe, and the Gulf region, as well as over 5,000 units which are under development.