Ascott partners with Chinese real-estate developer

23 Feb 2016 by Clement Huang

The Ascott Limited has forged a strategic alliance with Chinese real-estate subsidiary Dongfu Investment Development Corporation, which will see it enjoy first rights to manage properties currently under development as well as future projects.

Ascott’s partnership with Dongfu follows the company’s recent alliances with fast-growing companies including Alibaba’s online travel site Alitrip, and – China’s largest online apartment sharing platform, similar to Airbnb.

The Ascott–Dongfu alliance has kicked off with the former securing a management contract for the 148-unit Citadines Guoxitai Xian, slated to open in 2018. The new property will cement Ascott’s position as the largest international serviced residence provider in China, with more than 14,000 units across 24 cities.

Exterior facade of Citadines Guoxitai Xian

Citadines Guoxitai Xian will be located close to the Xian Hi-Tech Industries Development Zone, home to over 1,000 multinational corporations including 40 Fortune 500 companies such as Samsung, Micron, Infineon and NEC.

The property will be part of a mixed-used development that also includes an office tower as well as retail outlets. It will offer guests a choice ranging from studios to two-bedroom apartments, as well as a gym, breakfast area, children’s playground, laundrette and yoga room.

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Clement Huang

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