Ascott to open serviced apartments in India

The Ascott Limited (Ascott) has secured a 96-unit serviced residence in Bangalore – its first property in India.

The Ascott Limited (Ascott) has secured a 96-unit serviced residence in Bangalore – its first property in India.Opening on 1 August 2011, the property, to be rebranded as Citadines Richmond Bangalore, is located along the well-known Richmond Road, in the Central Business District, close to prominent retail destinations such as Mahatma Gandhi (MG) Road and Brigade Road.Many Grade-A office developments and other commercial establishments are also in the vicinity. Citadines Richmond Bangalore will offer a mix of spacious studio, one- and two-bedroomed apartments, to cater for the different lifestyle needs of short- and long-stay travellers. Each apartment will come with a fully equipped kitchen, en-suite bathrooms, and separate work and living areas, as well as modern amenities. Residents can relax at the swimming pool and the pool-side café, or work out at the gymnasium. Business executives will be able to make use of the serviced offices and conference facilities.Said Mr Lim Ming Yan, Ascott’s chief executive officer, “India is a key market for Ascott, as it has significant demand for serviced residences arising from the fast-growing economy.Ascott has six other properties in India, with more than 1,300 apartment units under development. The properties are located in Ahmedabad, Bangalore (two properties), Chennai (two properties) and Hyderabad.Somerset Greenways Chennai is scheduled to open later this year, while the remaining five properties are scheduled to open progressively over the next three years.

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