Ascott Opens Third Property in Shenzhen, China

Ascott has opened its third property in Shenzhen.

Located in Nanshan District, the city’s technology and industrial hub, Ascott Raffles City Shenzhen is part of CapitaLand’s flagship Raffles City integrated development – which also comprises a 70,000-sqm mall with more than 200 shops, and a 23-storey office tower. It was designed by architecture firm, Benoy.

Ascott Raffles City Shenzhen features 182 apartments ranging from studios to three-bedroom apartments. Each comes with a kitchen, audio-visual equipment and wireless internet.

Facilities include an indoor heated swimming pool, breakfast lounge, meeting rooms, gymnasium, aerobics room, reading room, sauna room, steam room, children’s play area, and business centre.

The property is close to Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and Houhai Financial Headquarters, while Shekou Cruise Centre and Shenzhen Bay Port are a 10-minute drive away.

With its easy access to transportation nodes including subway stations, guests can visit nearby downtown attractions such as Citizen Centre and Shenzhen Concert Hall, and theme parks including Happy Valley Shenzhen and Shenzhen Window of the World.

Mr Tan Tze Shang, Ascott’s Managing Director for China, said, “Known as the new Silicon Valley, Shenzhen is one of the world’s top innovation hubs and home to high-tech companies from all over the world, including new-tech giants such as Huawei, ZTE and Tencent. With the addition of Ascott Raffles City Shenzhen, Ascott now has more than 900 units across five serviced residences in one of China’s most competitive cities with high demand for accommodation. Out of the five properties, three are in operation while two more will open next year. Given its strategic location connecting prominent financial centres, proximity to transportation networks and being part of an integrated development under the iconic Raffles City brand, Ascott Raffles City Shenzhen offers business executives and leisure travellers the convenience of a one-stop work, retail and recreational destination.”

In China, three other properties which are part of the Raffles City-branded integrated developments include Ascott Raffles City Beijing and Ascott Raffles City Chengdu, both of which are already operational, as well as Ascott Raffles City Hangzhou which is slated to open in 3Q 2018.

“China is Ascott’s fastest-growing and largest market, with more than 18,000 units in over 100 properties across 29 Chinese cities. Its increasing attractiveness for foreign investment and growing domestic business travel market has fuelled a strong demand for international-class serviced residences. The Chinese market makes up Ascott’s top customers at our properties globally with revenue surging by 35% year-on-year,” added  Tan Tze Shang.

Besides Ascott Raffles City Shenzhen, Ascott currently operates two other properties in the city, namely Ascott Maillen Shenzhen and Somerset Grandview Shenzhen. Somerset Q Plex Shenzhen and lyf Wu Tong Island Shenzhen are slated to open in 2018.

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