Ascott will open a Citadines-brand serviced residences property in the fast-developing western Chinese city of Chengdu in 2014.
This will be its fourth serviced residence property in the city, with their existing Somerset-brand serviced apartments (see here) and two Ascott-brand properties due to open within the next two years (see here).
“Chengdu has strong growth opportunities for serviced residences,” said Chee Koon Lee, Ascott’s deputy chief executive officer and managing director for North Asia. “Its economy grew by more than 13 per cent for the first half of 2012 over the same period last year. In central and western China, Chengdu has been ranked the top city with the most Fortune 500 companies.”
Chengdu has been at the centre of the Chinese government's campaign to boost development in the country's western regions and has attracted large numbers of multinational companies. It is being linked up with surrounding areas by high-speed rail on a line that will soon run all the way east to Shanghai (read more about Chengdu here).
A spokesperson for Ascott said its serviced apartments were primarily for people looking to stay between one and three months. The three brands are targeted at different markets, with the Somerset focusing on families and the premier Ascott brand aimed at executives.
The Citadines brand’s primary market is independent travellers and business people and as such these properties have a large number of studies. They offer some business and meeting facilities, but on a smaller scale than Ascott properties (read a review of Citadines' property in London here).
“Citadines offers guests the flexibility to choose the services they require,” said Lee. “By bringing Citadines to Chengdu, expatriates, project teams and travellers will have more choices as they can choose from our three award-winning brands of serviced residences to suit their lifestyle needs.”
Rendering of Citadines South Chengdu
The Citadines South Chengdu will have 177 units ranging from studios to two-bedroom apartments with a full kitchen and work area. The property will have a gymnasium, a roof garden and meeting rooms.
The property will be located in Chengdu’s hi-tech district in the south of the city, home to offices for technology companies including Nokia, Siemens, Symantec, Maersk, Cisco, SAP, and IBM amongst others. It will be walking distance from the Science and Technology Zone Metro Station and less than 30 minutes drive from the Shuangliu International Airport.
For more information, visit www.ascott.com.sg
Nicholas Olczak
