SGX-listed CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), is celebrating the opening of its fifth serviced residence — Ascott Raffles City Beijing –in Beijing with special promotional rates from RMB 888 per day for a one-bedroom premier apartment to RMB 1,588 per day for a two-bedroom executive apartment.

This is the first time an Ascott serviced residence has partnered with a Raffles City anywhere in the world.

It will be followed soon by the opening of Ascott serviced residences within Raffles City Hangzhou and Raffles City Ningbo.

The launch of the Ascott RC Beijing enhances the Ascott leadership position as the largest
international serviced residence owner-operator in China.

Housed within the Raffles City complex — one of five Raffles Cities in China and seven worldwide — the premium serviced residence brings something new to the Ascott experience. 

“Ascott RC Beijing is our fourth property to open in China this year, reaffirming Ascott’s commitment to grow our presence in the Mainland,” said Mr Lee Chee Koon, Managing Director of Ascott North Asia.

“This is the first time we have a serviced residence located within a Raffles City development, a perfect combination to cater to our residents’ varied lifestyle needs.” 

Ascott RC Beijing is well located at Dongzhimen, Dongcheng District, one of the most vibrant areas in Beijing. It is also near the Second Embassy District, where many embassies and Fortune 500 companies are located.

The Dongzhimen transportation hub is right outside the Ascott residence, providing easy travel throughout the city on subway lines 2 and 13, and a 16-minute railway ride to the Beijing Capital International Airport on the recently completed Airport Express.

Furthermore, a multitude of tourist attractions such as shopping outlets, restaurants, entertainment and cultural destinations are just minutes away.

Ascott RC Beijing has 162 units, ranging from one to three-bedroom apartments, all designed to meet the busy executives’ requirements to live and work from home.

Ascott has 25 properties with some 5,000 apartment units across 12 cities in China including six properties which will open by 2011.

Ascott Huai Hai Lu Shanghai, Citadines Xi’an Gaoxin and Citadines Wuhan Zhuankou will open next year and Ascott Maillen Shenzhen and Somerset Heping Shenyang will open in 2011.

Ascott is the world’s largest international serviced residence owner-operator with around 19,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as about 6,000 units which are under development, making a total of 25,000.

The company operates three brands – Ascott, Somerset and Citadines. Its portfolio spans 67 cities in 22 countries.