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.
“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.”
Citadines Fusionopolis Singapore is part of the 30-hectare Fusionopolis precinct in the one-north development, well served by food & beverage outlets and retail amenities, including a supermarket, medical centre, pharmacies and post office.
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.
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 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.