Thursday, July 10, 2014

Ascott to expand in the Philippines

Ascott is looking to expand into areas outside of Metro Manila, specifically in Cebu and Davao. This is according to Arthur Gindap, regional manager for the Philippines and Thailand, who says they have always wanted to expand outside of Metro Manila but have yet to find the right partners to do so. He says the expansion will strengthen Ascott's position as the largest residence owner-operator in the country.

Ascott opened its first property in the Philippines with Somerset Millennium in Makati. It also has three other service apartments currently being operated by the company including their flagship Ascott Makati, Somerset Olympia Makati and the just-opened Citadines Salcedo Makati.

Ascott operates three service apartment brands namely Ascott, Somerset and Citadines. Over the next three years, three more properties are scheduled to open within Metro Manila. Those properties are Ascott Bonifacio Global City Manila in September 2014, Citadines Millennium Ortigas in 2015 and Somerset Alabang Manila in 2015. 

Ascott opened its first property in the Philippines with Somerset Millennium in Makati. It also has three other service apartments currently being operated by the company including their flagship Ascott Makati, Somerset Olympia Makati and the just-opened Citadines Salcedo Makati.

Citadines Salcedo Makati is the first Citadines-branded residence in the Philippines, with 2 015 units. Just like Ascott's other service residences, customers have a fully-equipped kitchen, home entertainment system and Wi-Fi. Amenities include a 250-meter lap pool, children's pool, a fitness center and a self-service laundry facility.

They also recently refurbished apartments and guest facilities at Somerset Olympia Makati.

Ascott is a Singapore-based company and a wholly owned subsidiary of CapitaLand, one of Asia's largest real estate companies. Its portfolio includes homes, offices, shopping malls, service apartments and mixed-use developments. Ascott started with only two properties in 1984 and now have 34 000 units in over 200 properties in 83 cities across 23 countries nationwide. 


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