ascott ShangaiContinuing its rapid expansion in the country, the Singapore-based company has signed agreements to operate the 90-unit Ascott Heng Shan Shanghai, 250-unit Ascott Emerald City Suzhou and 194-unit Somerset Baitang Suzhou, which are scheduled to open in 2014, 2015 and 2017 respectively. These new properties will take Ascott’s portfolio in China to more than 8,000 apartment units across 46 properties in 17 cities.

“Strong foreign direct investment and growth in tourism and domestic travel continue to drive demand for quality accommodation in China,” said Lee Chee Koon, Ascott’s deputy CEO & managing director for North Asia. “With the latest additions, we now have more than 10 serviced residences in Shanghai and Suzhou. Deepening our presence in these two cities enables us to better tap the fast-growing demand for serviced residences and build economies of scale in our operations.”

Ascott Heng Shan Shanghai will offer a range of one- to three-bedroom units located in the city’s Xuhui district, close to foreign consulates and near the Shanghai Railway Station. The Ascott Emerald City Suzhou forms part of the Suzhou New district, which is home to many electronics, IT, biotechnology and pharmaceutical companies, while the Somerset Baitang Suzhou is located in the Suzhou Industrial Park, adjacent to the Jinji Lake East district.

All three serviced residences will offer facilities such as swimming pools, spas, gymnasiums, business centres, meeting rooms and breakfast lounges.

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