Ascott Signs First Property in Macau

Ascott has signed a contract with China Overseas Property to manage a serviced residence in Macau SAR. Slated to open in 2014, the Ascott Paragon Macau will be Ascott’s first property in Macau.

Ascott Paragon Macau will be located within Dynasty District in the heart of Macau. Dynasty District is an international business and retail hub by the city’s waterfront. It is home to premier Grade-A office spaces, major shopping malls, residences and numerous attractions.

The district is just five to ten minutes away from the Macau International Airport and Ferry Terminal. It enjoys convenient accessibility to Guangzhou through the Guangzhou-Zhuhai railway and to Hong Kong via the Hong Kong- Zhuhai-Macau Bridge which is due for completion by 2016.

The Ascott Paragon Macau will be within walking distance to many places of interest such as the Macau Cultural Centre, Ruins of St. Paul’s and Handover Gifts Museum of Macau. It will also be close to a myriad of dining, shopping and entertainment options.

When completed, Ascott Paragon Macau is expected to offer about 100 apartments from studios to one-bedroom units to cater to the different lifestyle needs of leisure and business travellers.

The spacious apartments will come with a fully-equipped kitchen and elegant furnishing. Facilities will include a swimming pool, gymnasium, business centre and residents’ lounge.

Mr Lim Ming Yan, Ascott’s Chief Executive Officer, said: “Macau is an important travel destination for mainland Chinese as well as global travellers. With the high rate of growth in China, we expect more expatriates and business travellers to Macau as more international companies such as ING, HSBC and Deloitte set up offices in the city. At the same time, Macau’s numerous lifestyle and entertainment spots, coupled with an increasing number of events and trade fairs including Grand Prix Macau and World Heritage Travel Expo, are expected to create strong and growing demand for quality accommodation. As the first international serviced residence brand in Macau, Ascott Paragon Macau will set the benchmark and will be well positioned to cater to the demand for quality serviced residences in the market.”

Globally, Ascott has more than 27,000 apartment units in over 70 cities across 20 countries. In China, Ascott has about 6,600 apartment units in 36 properties across 16 cities.

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