Source: Citadines Fusionopolis Singapore

Singapore – CapitaLand's wholly owned serviced residence business unit, The Ascott Limited (Ascott), has snagged a prime property in one-north business park, Singapore's research & development hub which houses more than 400 companies, through a lease awarded by JTC Corporation. The 50-unit serviced residence is currently operating and will be rebranded to Citadines Fusionopolis Singapore from 1 April 2016. The new addition will further strengthen Ascott's presence in Singapore, which is already one of the company's top revenue-generating markets across more than 20 countries globally.

Mr Anthony Khoo, Ascott's Head of Singapore Cluster, said: "Demand for our serviced residences remains strong in our home ground Singapore, driven largely by the inflow of foreign investment and various government initiatives to reinvent Singapore as an exciting business and leisure destination. The country is amongst our best performing markets after China, France and the United Kingdom. Ascott properties in Singapore have been achieving strong occupancy of above 80% and this property at Fusionopolis in one-north business park will give us an added advantage."

Mr Khoo said: "With its choice location within the Fusionopolis, and its spacious loft apartments that appeal to expatriates on long stay, we are confident that Citadines Fusionopolis Singapore will further strengthen Ascott's business in Singapore. It is an exciting period for Ascott as we will open the luxurious Ascott Orchard in Singapore's premier shopping and lifestyle district soon after Citadines Fusionopolis Singapore. Ascott's operating portfolio in Singapore will exceed 1,000 apartment units by then, making us one of the largest serviced residence companies in Singapore."

Mr Khoo added: "Citadines Fusionopolis Singapore is strategically located in one-north business park, Singapore's R&D hub. R&D is a key driver of Singapore's economic growth as seen by the Government's record budget of S$19 billion from now till 2020 to fund research, innovation and enterprise activities, an 18% increase over the previous five years. Home to over 400 companies already, the business park is expected to continue attracting top multinational companies, which will drive sustained demand by business executives looking for quality accommodation in its vicinity."

Citadines Fusionopolis Singapore is part of the 30-hectare Fusionopolis precinct in the onenorth development, well served by food & beverage outlets and retail amenities, including a supermarket, medical centre, pharmacies and post office. With the one-north Mass Rapid Transit Station just a stone's throw away, it only takes a convenient 30-minute ride to reach the Central Business District and a five-minute ride to visit CapitaLand's Star Vista shopping mall, Singapore's first naturally cooled mall with a wide variety of shopping and dining options as well as a performing arts centre. Citadines Fusionopolis Singapore is easily accessible to attractions such as Science Centre, Haw Par Villa theme park, Chinese Garden as well as a popular dining spot, Holland Village. It is also close to the National University of Singapore, National University Hospital and Singapore Polytechnic.

A retreat for savvy independent travellers on extended stay, the serviced residence offers a range of spacious one-bedroom loft units, featuring chic interiors with high ceilings, separate living and dining area, kitchen and bedroom. Guests can choose from a selection of services to customise their stay, and enjoy relaxing at the sky terrace, residents' and breakfast lounge with alfresco seating area as well as complimentary use of the gymnasium.

Following the opening of Citadines Fusionopolis, the 20-storey Ascott Orchard Singapore is set to welcome guests in early 2017. Located in the most fashionable shopping destination in Singapore, Ascott Orchard will offer guests an exclusive and smart living experience. The premium serviced residence with a hotel licence is well suited for expatriates, business travellers and tourists as it is a few minutes' walk from Orchard as well as Somerset Mass Rapid Transit stations with easy access to the Central Business District, world-class shopping malls and premium medical facilities. Ascott Orchard Singapore is linked to Paragon shopping mall through a covered bridge and is part of CapitaLand's landmark integrated development that also comprises a high-end residential development Cairnhill Nine. Ascott Orchard Singapore will have 220 units comprising studios to two-bedroom units and penthouses.

With the addition of Citadines Fusionopolis in Singapore, Ascott will have over 800 units across eight properties operating in prime locations. These include Ascott Raffles Place, Citadines Mount Sophia, Somerset Bencoolen, Somerset Liang Court and Somerset Orchard. When Ascott Orchard Singapore opens, Ascott will operate more than 1,000 units across nine properties.

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit http://www.capitalandinvest.com/ for more information.

Joan Tan
Assistant Vice President, Corporate Communications
+65 6713 2864
The Ascott Limited