Ascott plans 5 new properties here
THE ASCOTT LTD, a unit of Singaporean real-estate company CapitaLand, has announced that it will open five properties in Thailand over the next 18 months as well as launch a new brand to appeal to younger guests.
Jean Keijdener, Ascott’s country general manager for Thailand, said the firm would open more than 30 properties around the world this year and had strong expectations for continuous growth in Thailand. It will continue to explore opportunities in many regions and key cities of Thailand.
“As of the current plan, more properties are set to be opened in the next 18 months, with four properties already in the pipeline under the brands Citadines Jomtien Beach Pattaya, Citadines North Pattaya, Somerset Maison Asoke Bangkok, and Somerset Habourview Sri Racha,” he said.
Another project is Somerset Ekamai Bangkok, which will be the company’s first mixed-use housing development, with 130 serviced apartments, 81 units for corporate lease and a multifunction conference centre with 51 community rooms set in a co-living environment.
After the first phase was launched last August, the whole project will open next quarter. Somerset Ekamai Bangkok will also serve the growing MICE (meetings, incentives, conventions and exhibitions) segment from government and medical association.
Aside from Somerset Ekamai Bangkok, the company in 2016 achieved its target of 3,000 units with 18 properties across Bangkok, Pattaya and Sri Racha, including Metropole Bangkok, Asia’s first luxury serviced residence under The Crest Collection by The Ascott Ltd.
The company has also clinched a management contract for The Park at Em District, an upscale serviced residence on Sukhumvit Soi 24 in Bangkok.
The Ascott group expects to launch a new brand this year or perhaps in 2018. Like the group’s other properties, it will cater to long-stay guests but will be diversified towards young clients and new start-up business travellers.
Currently, Ascott has more than 29,000 operating serviced-residence units in key cities of the Americas, the Asia-Pacific region, Europe and the Middle East as well as more than 22,000 units under development, for a total of more than 52,000 units in more than 300 properties.
The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans more than 100 cities across 27 countries.
