Ascott opens third Citadines serviced residence in Xi’an

The new 138-unit Citadines Xingqing Palace Xi’an is part of Ascott’s plan to expand its China portfolio to 12,000 units by 2015.

Ascott, CapitaLand’s wholly-owned serviced residence business unit, currently also operates Citadines Central Xi’an (162 units) and Citadines Gaoxin Xi’an (251 units) while Somerset Gaoxin Xi’an (233 units) is expected to open in 2013. In China, Ascott has about 7,000 apartment units in 38 properties across 16 cities.

“The opening of our third Citadines in Xi’an will enable us to cater to the strong demand for accommodation from business and leisure travellers. Moving forward, high growth cities such as Xi’an will remain an important market for Ascott as we seek to expand our China portfolio to 12,000 units by 2015,” said Mr Lee Chee Koon, Ascott’s Managing Director for North Asia.

Citadines Xingqing Palace Xi’an is a five-minute walk to the historic Xingqing Palace Park and is also close to many shopping and entertainment outlets such as the Jiaoda Computer Mall, Hongye Cinema, and Lifeng International Shopping Square.