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CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has clinched a contract from China Overseas Property Limited to manage the first international brand of serviced residence in Macau SAR. The premier serviced residence, slated to open in 2014, is to be named Ascott Paragon Macau. It is not only Ascott’s first entry into Macau but it also strengthens Ascott’s leadership position as the largest international serviced residence owner-operator in China and in the world. Globally, Ascott has more than 27,000 apartment units in over 70 cities across 20 countries. In China, Ascott has about 6,600 apartment units in 36 properties across 16 cities.
Mr Lim Ming Yan, Ascott’s Chief Executive Officer, said: “Macau is an important travel destination for mainland Chinese as well as global travellers. With the high rate of growth in China, we expect more expatriates and business travellers to Macau as more international companies such as ING, HSBC and Deloitte set up offices in the city. At the same time, Macau’s numerous lifestyle and entertainment spots, coupled with an increasing number of events and trade fairs including Grand Prix Macau and World Heritage Travel Expo, are expected to create strong and growing demand for quality accommodation. As the first international serviced residence brand in Macau, Ascott Paragon Macau will set the benchmark and will be well positioned to cater to the demand for quality serviced residences in the market.”
Ascott Paragon Macau will be strategically located within Dynasty District in the heart of Macau. Dynasty District is an international business and retail hub by the city’s waterfront. It is home to premier Grade-A office spaces, major shopping malls, prestigious residences and numerous attractions. The district is just five to ten minutes away from the Macau International Airport and Ferry Terminal. It enjoys convenient accessibility to Guangzhou through the Guangzhou-Zhuhai railway and to Hong Kong via the Hong Kong-Zhuhai-Macau Bridge which is due for completion by 2016. The luxurious serviced residence will be within walking distance to many places of interest such as the Macau Cultural Centre, Ruins of St. Paul’s and Handover Gifts Museum of Macau. It will also be close to a myriad of dining, shopping and entertainment options.
When completed, Ascott Paragon Macau is expected to offer about 100 apartments from studios to one-bedroom units to cater to the different lifestyle needs of leisure and business travellers. The spacious apartments will come with a fully-equipped kitchen and elegant furnishing. Residents can enjoy facilities including a swimming pool, gymnasium, business centre and residents’ lounge.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
