Singapore -- (SBWIRE) -- 06/18/2012 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), continues to expand its presence in India with the soft opening of its first Somerset brand of serviced residence in the country. The debut of the 187-unit Somerset Greenways Chennai (http://www.somerset.com/india/chennai/somerset_greenways.html) follows the company's recent opening of the 96-unit Citadines Richmond Bangalore (http://www.citadines.com/india/bangalore/richmond_bangalore.html). Somerset Greenways Chennai is a joint venture between Ascott and Rattha Group, a company in the field of infrastructure development, leasing and exports in India.

Mr Ronald Tay, Ascott's Chief Investment Officer who oversees the company's business in India, said: "India is an important market for Ascott. There is a huge untapped demand but limited supply of serviced residences to cater to the increasing number of expatriates and travellers. We target to have 4,000 apartment units in India by 2015. Our strategy is to expand in the high growth cities with strong demand for international-class serviced residences. Chennai is one of the key cities in our India network as it is a major automobile manufacturing and business process outsourcing destination for IT and IT-enabled services. The new Somerset Greenways Chennai offers business executives who are travelling with their families the warmth of home and work-life balance through its wide range of lifestyle and recreational facilities."

Mr H.S. Rattha, Chairman, Rattha Group of Companies, said: "The concept of serviced residences which are available for long and short stays is still relatively new in Chennai. Chennai offers one of the best infrastructures in India and it is attracting many multinational companies to set up offices in the city. Hence, we see strong growth potential for serviced residences. Ascott is the world's largest international owner and operator of serviced residences with award-winning brands. By partnering with Ascott to open Somerset Greenways Chennai, we aim to bring international standards to the serviced residence segment in India and set a benchmark for the industry."

Strategically located in MRC Nagar, Somerset Greenways Chennai (http://www.somerset.com/india/chennai/somerset_greenways.html) is a 10-minute drive from the central business district of Chennai where international banks, financial institutions and multinational companies are located. The serviced residence is close to commercial centres, leisure and entertainment hubs which feature retail stores offering exclusive international brands, ¬fine dining restaurants, food courts and multiplexes.

Somerset Greenways Chennai offers a range of stylish studios, one- and two-bedroom apartments as well as a three-bedroom apartment. Each apartment features a fully-equipped kitchen, separate living room and state-of-the-art home entertainment system. The extensive facilities include an in¬finity swimming pool and roof top Jacuzzi amidst a landscaped garden, a gymnasium, steam room, sauna, two restaurants that serve international cuisine, a lounge bar and a business centre with efficient support services. Residents can entertain their friends in the privacy of their spacious apartments or enjoy a barbecue at the roof top garden with their family while their children have fun at the play area.

Rates start at INR 8,000 per night for a studio apartment. Attractive monthly rates are also available for long stays. The rates are subject to taxes and include daily buffet breakfast, one-way airport transfer, welcome hamper, complimentary broadband Internet access, daily newspaper and daily shuttle service to Chennai's largest shopping mall, Express Avenue mall.

Besides Somerset Greenways Chennai and Citadines Richmond Bangalore (http://www.citadines.com/india/bangalore/richmond_bangalore.html), Ascott has five other serviced residences with more than 1,100 apartment units under development in India. The five properties are scheduled to open progressively in Chennai (300-unit Citadines OMR Gateway), Ahmedabad, Bangalore (two properties) and Hyderabad by 2015. In total, Ascott's seven properties in India will have over 1,400 apartment units and will cost more than US$250 million (INR 1,125 crores) when fully developed.

For reservations and more information on Somerset Greenways Chennai, please visit www.somerset.com/en/india/chennai/somerset_greenways.html, email enquiry.chennai@the-ascott.com or call (91-44) 7101 0000.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across 20 countries, 12 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. It also established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 27-year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include Business Traveller UK Awards 2011 "Best Serviced Apartment Company", Business Traveller Asia-Pacific Awards 2011 "Best Serviced Residence Brand" and "Best Serviced Residence in Asia-Pacific", DestinAsian Readers' Choice Awards 2011 "Best Serviced Residence in Asia Pacific", TTG China Travel Awards 2011 "Best Serviced Residence Operator in China" and TTG Travel Awards 2010 "Best Serviced Residence Operator".

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Chennai, India -- (SBWIRE) -- 06/15/2012 -- The Ascott Limited (http://www.the-ascott.com/) (Ascott), a wholly-owned serviced residence business unit of CapitaLand, has appointed Mr Vincent Wee as Managing Director for India and the Gulf Cooperation Council (GCC) countries. He is responsible for developing growth strategies and managing Ascott's business in these regions. Mr Wee is concurrently the Deputy Chief Executive Officer of Ascott Residence Trust Management Limited (ARTML).

Mr Wee said: "India is a key market with huge demand but has limited supply of quality serviced residences. With FDI expected to more than double from US$26 billion in 2011 to US$55 billion in 2015 and a resultant increase in international tourist arrivals, there will be an acute shortage of quality accommodation. The gap is estimated at approximately 150,000 rooms. In 2011, Ascott opened its first two properties- Citadines Richmond Bangalore (http://www.citadines.com/india/bangalore/richmond_bangalore.html) and Somerset Greenways Chennai (http://www.somerset.com/india/chennai/somerset_greenways.html) with a total of 283 units in India. Five more properties with over 1,100 units are scheduled to open in Ahmedabad, Bangalore, Chennai and Hyderabad over the next 3 – 4 years. We target to grow from our current over 1,400 apartment units to 4,000 apartment units in India by 2015."

"Our strategy for India is to expand in high growth cities with strong demand for international-class serviced residences. We are also looking at extending our footprint to other cities across India like Mumbai, New Delhi and Pune"

Mr Vincent Wee has over 18 years of experience in the real estate industry. Prior to joining ARTML in July 2011, he was with Australand Property Group, the Australian Stock Exchange listed subsidiary of CapitaLand where he held various senior executive positions including General Manager, Risk, Acquisitions and Commercial Operations. He was in charge of growing Australand's business with new acquisitions, managing multiple joint venture partners' relationships for residential projects across Australia as well as mitigating the residential division's business risks. Mr Wee holds a Master of Business Administration from Cranfield school of Management, UK and a Bachelor of Economics from Monash University, Australia.

Ascott has also announced the appointment of Mr Rohan Sable as General Manager of the 187-unit Somerset Greenways in Chennai, Ascott's first Somerset brand of serviced residence in India.

Mr Rohan Sable joins Somerset Greenways Chennai with over 13 years of experience in the hospitality industry. Prior to his current role, he was General Manager of Hotel Royal Orchid, Bangalore where during his three-year tenure, he spearheaded many initiatives to improve services and standards. He was named 'General Manager of the Year' award in 2010 by the Federation of Hotel & Restaurant Associations of India. Mr Sable has also managed various properties in Chennai and Pondicherry. He holds a Bachelor Degree in Hospitality Management from the University of Huddersfield, United Kingdom and a Diploma in Hospitality Management from the Institute of Hotel Management, Aurangabad.

About The Ascott Limited
The Ascott Limited is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 8,000 units which are under development, making a total of more than 30,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 28-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Ascott's achievements have been recognised internationally. Recent awards include DestinAsian Readers' Choice Awards 2012 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 06/15/2012 -- Targets to have 4,000 apartment units in India by 2015

The Ascott Limited (http://www.the-ascott.com/) (Ascott), a wholly-owned serviced residence business unit of CapitaLand, has opened two serviced residences in India in a month. The 96-unit Citadines Richmond Bangalore (http://www.citadines.com/india/bangalore/richmond_bangalore.html) opened on 1 August while the 187-unit Somerset Greenways Chennai (http://www.somerset.com/india/chennai/somerset_greenways.html) soft opened on 29 August 2011.

Besides Citadines Richmond Bangalore and Somerset Greenways Chennai, Ascott has five other serviced residences with more than 1,100 apartment units under development in India. The five properties are scheduled to open progressively in Ahmedabad, Bangalore (two properties), Chennai and Hyderabad by 2015. In total, Ascott's seven properties in India will have over 1,400 apartment units and will cost more than US$250 million (INR 1,125 crores) when fully developed.

Mr Ronald Tay, Ascott's Chief Investment Officer who oversees the company's business in India, said: "India is an important market for Ascott. There is a huge untapped demand but limited supply of serviced residences to cater to the increasing number of expatriates and travellers. Our strategy for India is to expand in the high growth cities with strong demand for international-class serviced residences and we will do so through investments, management contracts or lease agreements. Besides Ahmedabad, Bangalore, Chennai and Hyderabad, we will look at extending our footprint to other cities including Mumbai, Pune and New Delhi. Our target is to grow from our current 1,400 apartment units to 4,000 units in India by 2015."

"Bangalore and Chennai are key cities in our India network as they are major business process outsourcing destinations for IT and IT-enabled services. Bangalore, as the Silicon Valley of India, is one of the fastest growing metropolises in India. Chennai's growing automobile manufacturing and telecommunications industries also continue to attract large numbers of expatriates and business travellers. Ascott's entry into Bangalore and Chennai will allow us to provide expatriates and travellers a quality accommodation that they can call home," added Mr Tay.

To celebrate the openings of Citadines Richmond Bangalore (http://www.citadines.com/india/bangalore/richmond_bangalore.html) and Somerset Greenways Chennai, Ascott is offering special promotional rates from now till 31 December 2011.

Citadines Richmond Bangalore

Citadines Richmond Bangalore is an ideal home in the city offering flexible services to suit the lifestyles of independent, savvy travellers. It is conveniently located for business and leisure, along the well-known Richmond Road in the greenest stretch of Bangalore's central business district. The serviced residence is surrounded by commercial establishments, banks and government offices and is near high street retail destinations such as Mahatma Gandhi (MG) Road and Brigade Road.

Citadines Richmond Bangalore offers apartment units ranging from comfortable studios to spacious two-bedroom apartments. Facilities include a swimming pool and children's pool, pool-side cafe, fully-equipped gymnasium, residents' lounge, serviced offices as well as banquet and conferencing facility.

Introductory rates are from INR 4,500++ per night for a studio apartment to INR 12,000++ per night for a two-bedroom apartment.

For reservations and more information on Citadines Richmond Bangalore, please visit www.citadines.com/india/bangalore/richmond_bangalore.html, call (91-80) 7101 0000 or email enquiry.bangalore@the-ascott.com.

Somerset Greenways Chennai

Somerset Greenways Chennai (http://www.somerset.com/india/chennai/somerset_greenways.html) is strategically located in MRC Nagar, a 10-minute drive from the central business district of Chennai where international banks, financial institutions and multinational companies are located. The serviced residence is close to commercial centres, leisure and entertainment hubs which feature retail stores offering exclusive international brands, fine dining restaurants, food courts and multiplexes.

Somerset Greenways Chennai has soft opened with 48 apartments and its remaining 139 units will be ready by the end of the year. The serviced residence offers a range of stylish studios, one- and two-bedroom apartments as well as a three-bedroom apartment. Ideal for business executives who are travelling with their families, Somerset Greenways Chennai offers extensive facilities including an infinity swimming pool, roof top Jacuzzi and barbecue area amidst a landscaped garden, a gymnasium, steam room, sauna, an outdoor children's play area, two restaurants that serve international cuisine, a lounge bar and a business centre with efficient support services.

Introductory rates are from INR 5,999++ per night for a studio apartment to INR 19,000++ per night for a three-bedroom apartment.

For reservations and more information on Somerset Greenways Chennai, please visit www.somerset.com/india/chennai/somerset_greenways.html, call (91-44) 7101 0000 or email enquiry.chennai@the-ascott.com.

About The Ascott Limited
The Ascott Limited is the world's largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across 20 countries, 12 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. It also established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust, in 2006. Today, the company boasts a 27-year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include Business Traveller Asia-Pacific Awards 2011 "Best Serviced Residence Brand" and "Best Serviced Residence in Asia-Pacific", DestinAsian Readers' Choice Awards 2011 "Best Serviced Residence in Asia Pacific", TTG China Travel Awards 2011 "Best Serviced Residence Operator in China", Business Traveller UK Awards 2010 "Best Serviced Apartment Company" and TTG Travel Awards 2010 "Best Serviced Residence Operator".

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 05/04/2012 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has appointed Mr Graham Black as its Country General Manager for Vietnam. Mr Black, a veteran of the hospitality industry, will oversee Ascott's operations and ensure the continued growth of its serviced residence business in Vietnam.

Mr Alfred Ong, Ascott's Managing Director for Southeast Asia and Australia, said: "As the largest international serviced residence owner-operator in Vietnam, Ascott has over 1,600 apartment units in Ho Chi Minh City, Hanoi, Hai Phong and Danang. Vietnam is a key growth market for Ascott and we will continue to look for opportunities to strengthen our leadership position in Vietnam. Graham has amassed 30 years of experience in the international hospitality sector. With his industry knowledge and expertise, he will play a key role in leading our Vietnam team to enhance Ascott's business in the country."

No stranger to Ascott, Mr Black was the company's General Manager for Sydney from 2003 to 2007. He was instrumental in driving operational efficiencies and achieving record profits across Ascott's properties in Sydney. Besides Ascott, Mr Black has previously held senior appointments at Stamford Hotels and Resorts, Park Hyatt, and Sheraton.

Mr Black said: "I am glad to be back at Ascott and take on this exciting role. As a pioneer in the serviced residence industry in Vietnam, Ascott has built a strong reputation with its award-winning Somerset brand over the past 17 years. As Vietnam rapidly develops, there will be huge opportunities for us to grow. I look forward to working closely with the team as we endeavour to offer the perfect home away from home for global travellers on short and long visits to Vietnam."

Ascott currently operates two serviced residences in Ho Chi Minh City – Somerset Chancellor Court (http://www.somerset.com/vietnam/ho_chi_minh_city/somerset_chancellor_court.html) and Somerset Ho Chi Minh City (http://www.somerset.com/vietnam/ho_chi_minh_city/somerset_ho_chi_minh_city.html), and three serviced residences in Hanoi – Somerset Hoa Binh (http://www.somerset.com/vietnam/hanoi/somerset_hoa_binh.html), Somerset West Lake (http://www.somerset.com/vietnam/hanoi/somerset_west_lake.html) and Somerset Grand Hanoi (http://www.somerset.com/vietnam/hanoi/somerset_grand_hanoi.html). The company will open Somerset Central TD Hai Phong City in 2013 and Somerset Danang Bay in 2014.

About The Ascott Limited
The Ascott Limited is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 8,000 units which are under development, making a total of more than 29,000 units.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 28-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2012 'Best Serviced Apartment in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Portfolio in China increases to over 8,000 apartment units in 42 properties across 17 cities

Singapore -- (SBWIRE) -- 04/01/2012 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has secured a contract to manage its first serviced residence in Xiamen. Slated to open in late 2012, the 169-unit Citadines Jinshang Road Xiamen is the first international branded serviced residence in Xiamen, Fujian Province. The latest addition has reinforced Ascott's leadership position as the largest international serviced residence owner-operator in China with more than 8,000 apartment units in 42 properties across 17 cities.

Mr Chong Kee Hiong, Ascott's Chief Executive Officer, said: "China is Ascott's fastest growing market. Besides the tier one cities, we see potential in other growth cities like Xiamen which is one of the five special economic zones in China. As a centre for commerce, international shipping and technological innovation, Xiamen has attracted investments from many multinational corporations such as DELL, Lenovo, Coca-Cola and ABB. Xiamen is also a leading city for trade fairs and a well-known tourist destination. As the first international branded serviced residence in Xiamen, Citadines Jinshang Road Xiamen will enjoy first mover advantage in catering to the strong demand for quality accommodation."

Mr Lee Chee Koon, Ascott's Deputy Chief Executive Officer and Managing Director for North Asia, said: "Ascott has entered Xiamen because we value the potential in Xiamen and its neighbouring cities. Ascott is on track to achieve 12,000 apartment units in China by 2015. Besides expatriates and foreign tourists, an increasing number of domestic business travellers are also staying at our serviced residences. To entrench our leadership position in China, we will deepen our investments and leverage on Ascott's strong international branding to secure more management contracts."

Citadines Jinshang Road Xiamen is strategically located in the heart of Huli District which is well connected to the Xiamen airport and seaport. The serviced residence is situated next to the Huli government office and is close to the Huli Economic Zone and high-tech district which houses 24 Fortune 500 companies. A large Tesco supermarket is within walking distance from the serviced residence while the nearby bus rapid transit station provides convenient access to various destinations in Xiamen.

When completed, Citadines Jinshang Road Xiamen will offer a range of spacious studios to three-bedroom apartments catering to the different lifestyle needs of business and leisure travellers. All apartments will come with a fully-equipped kitchen and separate work and sleeping areas. The comprehensive facilities at the serviced residence include a gymnasium, business centre, conference room and breakfast lounge.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 8,000 units which are under development, making a total of more than 30,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 28-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2012 'Best Serviced Apartment', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 03/30/2012 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has embarked on a global sustainability drive, 'Go Green @ Ascott', as it strives to become the world's leading green serviced residence company.

Ascott has implemented and will continue to roll out sustainable initiatives across its offices and properties worldwide, and targets to achieve 15% savings in water and energy consumption by 2015, using 2008 as the base year. In 2011, Ascott consumed 9% less water and energy compared with 2008. [1] The 225,000 cubic metres of water saved can fill over 90 Olympic-sized swimming pools while the 18,000 megawatt hours of energy saved can power some 3,500 average Singapore households for a year.

Mr Tony Soh, Ascott's Chief Corporate Officer and Chairman of Ascott's Green Committee which oversees the company's global sustainability efforts, said: "Climate change is a real issue that is affecting how we live, work and play. As the world's leading international serviced residence owner-operator, Ascott can make a significant positive impact on the environment, across the 21 countries and more than 70 cities where we operate. Hence, we are taking proactive and meaningful steps to transform our business practices and promote sustainability among our staff, residents and business partners. Ascott is committed to do its part in the global sustainability effort, as it is the right thing to do, to help safeguard our planet for future generations."

Ascott will focus on five areas to realise its green vision:

1. Green Buildings

Ascott will incorporate green elements into all new properties to be built or renovated to create sustainable residences that are both comfortable and resource and energy efficient. This includes the use of sustainable building materials or products that are locally sourced, more energy efficient and more durable, which consequently have less impact on the environment.

An example of an Ascott serviced residence with sustainable features is Citadines Mount Sophia Singapore (http://www.citadines.com/singapore/mount_sophia.html). The property features sky gardens and naturally ventilated corridors which lessen the need for air-conditioning. Apartments are also designed to allow abundant daylight, thus reducing the dependency on electrical lighting.

Ascott aims to attain green certifications from established green building rating systems for all new and renovated properties.

2. Environment, Health and Safety

Ascott has put in place comprehensive environment, health and safety procedures across its serviced residences. To date, its properties in nine countries – Australia, China, Japan, Malaysia, the Philippines, Singapore, Thailand, the United Kingdom and Vietnam – have received international certifications on environmental management (ISO 14001) and occupational health and safety management system (OHSAS 18001).

Ascott targets to achieve international certifications for its environment, health and safety management system in all properties it owns worldwide by the end of 2012. Major contractors engaged by Ascott are already required to be certified to these international standards.

3. Green Products

Ascott has established procurement guidelines to increase the use of green products at its serviced residences. For instance, Ascott has introduced energy-saving light bulbs, solar water heaters, sensor lighting, biodegradable laundry bags and bathroom amenities with innovative and recyclable packaging to reduce wastage. At Somerset JieFangBei Chongqing (http://www.somerset.com/china/chongqing/somerset_jiefangbei.html), Ascott replaced 800 11-volt lamps with four-volt lamps in public areas. This translates to savings of over 3,500 kilowatt hours per month, which can power up to 25 average-sized refrigerators in a month.

Ascott has also adopted the use of Forest Stewardship Council or recycled paper where possible for the printing of office documents, marketing collateral and stationery.

4. Water, Energy, Paper and Waste Reduction

Ascott has implemented green practices to promote the conservation of water, energy and paper as well as to reduce waste. Since 2009, Ascott's serviced residence directory is available for download on its website which reduced the number of print copies and saved over 8,000 kg of paper every year.

Other examples of sustainability initiatives at Ascott's properties include offering long-stay residents the option not to have daily housekeeping, the installation of water-saving devices in toilet cisterns, the use of recycling bins and providing reusable eco-bags or shopping trolleys which reduce the use of disposable grocery bags.

Ascott also recycled and distributed over 40 tonnes of furniture to charitable organisations and groups in need in the United Kingdom following the refurbishment of Citadines Prestige Trafalgar Square London.

5. Stakeholder Engagement

An Ascott Earth Day is held every first Friday of the month at Ascott's offices and properties worldwide. On this day, staff and residents are encouraged to dress down while the air-conditioning at the offices and properties are turned up to conserve energy. Similarly, staff and residents in temperate countries are encouraged to wear warmer clothing as the heater temperature is reduced. Ascott's offices and properties will also switch off beacon signage lights and other non-essential lightings for 10 hours from 8pm.

In Vietnam, staff from Somerset Chancellor Court Ho Chi Minh City (http://www.somerset.com/vietnam/ho_chi_minh_city/somerset_chancellor_court.html) and Somerset Ho Chi Minh City (http://www.somerset.com/vietnam/ho_chi_minh_city/somerset_ho_chi_minh_city.html) travelled over 250 kilometres to the Mekong Delta province of Soc Trang to grow two hectares of mangrove forest which had been destroyed by storms. In Manila, Ascott Makati offers a Green Meetings Package providing recyclable notebooks and white boards instead of flip charts as well as personalised water goblets in place of paper cups. In addition, Ascott Makati provides residents an eco-menu that requires less cooking and, therefore, less energy consumption.

For further information on 'Go Green @ Ascott', please visit http://www.theascottlimited.com/aboutus/gogreen/index.html.

[1] Water and energy consumption savings are calculated based on per square metre of gross floor area.

About The Ascott Limited
The Ascott Limited is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 8,000 units which are under development, making a total of more than 29,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 14 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 28-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2012 'Best Serviced Apartment in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 03/05/2012 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has secured a new management contract for its first Citadines Apart'hotel in Surabaya, Indonesia. The 288-unit Citadines Marvell Surabaya (http://www.citadines.com/indonesia/surabaya/marvell_surabaya.html) is scheduled to open in 2014. This reinforces Ascott's position as the largest international serviced residence owner-operator in Indonesia, with over 2,100 apartment units across 10 properties.

Mr Alfred Ong, Ascott's Managing Director for Southeast Asia and Australia, said: "Ascott has built a strong presence in Indonesia since we opened our first property in Jakarta in 1995. With Indonesia's resilient economy and increasing foreign direct investment into the country, we see tremendous opportunities to expand in Indonesia and introduce our Citadines brand in Surabaya."

"Surabaya, Indonesia's second largest city, has a thriving seaport and burgeoning industrial sector. Surabaya is also an up-and-coming city for meetings, incentives, conventions and exhibitions. It is a popular tourist destination with a strong domestic travel market. With Citadines Marvell Surabaya, we will be able to tap on the growing segment of savvy independent travellers who want the flexibility to choose the services they desire to create their unique stay experience. Besides Citadines Marvell Surabaya, Ascott will open four more properties in Indonesia by 2014, including two Citadines, in Bali and Jakarta, in the second half of 2012," Mr Ong added.

Conveniently situated in the business district of Ngagel, Citadines Marvell Surabaya will be close to shopping malls and the Surabaya Industrial Area Rungkut, where many manufacturing factories are located.

Citadines Marvell Surabaya will be part of an integrated development named Marvell City, which offers a multitude of shopping, dining and entertainment options. These include specialty restaurants and bars with alfresco dining, a supermarket, a cinema and other retail outlets. The development will also house commercial towers, educational institutions, as well as ballroom and banquet facilities.

Citadines Marvell Surabaya offers business and leisure travellers a choice of studios, one- and two-bedroom apartments. Each furnished apartment comes with a fully-equipped kitchen, ensuite bathroom, separate work and sleeping areas and other modern amenities. Facilities in the 12-storey serviced residence include a swimming pool and residents' lounge.

Besides Citadines Marvell Surabaya, Ascott will open Citadines Kuta Bali (http://www.citadines.com/indonesia/bali/citadines_bali_kuta.html) and Citadines Rasuna Jakarta in 2012, Ascott Kuningan Jakarta in 2013 and Somerset Kencana Jakarta in 2014. Ascott currently manages Ascott Jakarta, Somerset Berlian Jakarta, Somerset Grand Citra Jakarta, Somerset Surabaya Hotel & Serviced Residence and Countrywoods Residences.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 7,000 units which are under development, making a total of more than 29,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 28-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 03/02/2012 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/ ) (Ascott), has launched a brand new lifestyle and travel website (www.ascottliving.com) to better engage travellers and guests. The new website is launched in conjunction with the revamp of Ascott's in-house travel and lifestyle magazine, Ascott Living.

Both are produced in collaboration with Novus Media Solutions (Novus). Beyond an ordinary travel guide, the two lifestyle offerings are uniquely crafted to provide readers a personal and local take on what is happening across the world and how to get the best experience from the cities whether one is relocating or travelling for work or leisure.

With the new Ascott Living website, readers can access a brand new resource 'Inside Track' that offers travel tips and useful information on 20 cities across the globe. Readers can search and download tips on the best places to eat, drink, shop or relax, giving readers a handy guide even when they are offline. The entire magazine is also available for download at the new website, allowing busy travellers to read the magazine on their own portable digital devices, at their own time.

With the redesign of the magazine, Ascott Living now sports a clean and more contemporary look. A more compelling read than before, the magazine combines savvy destination features with striking images, colourful personality profiles and news on the latest travel trends. New sections include 'Tipple', an inside guide to the best bars near an Ascott serviced residence and 'Jump Off' takes a look at a range of unique activities – from the easy to the adventurous - from someone who knows it well.

The first issue of the quarterly Ascott Living will reacquaint readers with what's up and coming in London, the host city for the Olympics in 2012. Readers can also take a peek into the busy life of Kristie Lu Stout, CNN news anchor. Copies of the new Ascott Living can be found worldwide, in all the serviced residences managed by Ascott, at selected airport lounges at Changi Airport and selected private clinics in Singapore.

Mr Anthony Khoo, Senior Vice President for Brand & Marketing, The Ascott Limited, said: "The new Ascott Living is much more exciting, contemporary and engaging. Over the years, we have received fantastic feedback on Ascott Living from our sophisticated, well-travelled and discerning guests, and we constantly find ways to improve the magazine to cater to the interests of our readers. With this latest revamp, we hope to enhance our guests' experience with an even higher quality lifestyle read while enabling them to find out more about what Ascott can offer. By bringing Ascott Living online, guests can easily access the interesting and unique features of the magazine, get latest updates, share their views and experience the world of Ascott wherever they may be."

Mr Simon Cholmely, partner of Novus, said: "We are extremely excited about the launch of the new Ascott Living and we are grateful for the endorsement from The Ascott Limited (http://www.the-ascott.com/). Produced across print and online platforms, we are certain that this attractive international title will speak directly to the Ascott traveller – by offering them the inside track on leading destinations, delicious styles of food and top-of-the-line products, packaged in a bespoke, eye-catching format that we're certain will turn heads. We are truly delighted to have this opportunity to help take Ascott Living to even greater heights." Novus will also oversee the advertising sales for the magazine and the website.

The magazine's editorial team is helmed by Mr Luke Clark, who has 16 years of experience on the media scene, including three years as an editor with Ink Publishing. Ascott Living also taps on the insights of leading contributors from around the world. In the launch issue, Mr Peter Myers, the business travel editor from Thomson Reuters shares his personal take on London. Heading the design team, Mr Richard MacLean has accumulated extensive experience in Europe including work on Bauer Media's UK version of Grazia fashion magazine.

For subscriptions and the latest news and updates from the magazine, please visit: http://www.ascottliving.com/OurBrands.aspx#tab4.

About The Ascott Limited
The Ascott Limited is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 7,000 units which are under development, making a total of more than 29,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 28-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 01/31/2012 -- Stay with Somerset serviced residences in Melbourne (http://www.somerset.com/en/serviced_apartments/serviced_apartment_melbourne.html) , Perth or Hobart this Summer and experience the comforts of home from $125 daily*. Or stay at the award-winning Citadines on Bourke Melbourne (http://www.citadines.com/australia/melbourne/bourke.html) Apart'hotel from $159 daily* and receive a free upgrade!

Experience the Comforts of Home at Somerset Serviced Residences in Australia
Somerset serviced residences are designed with families in mind. Whether you are on business trip or holiday with your family, Somerset serviced residences offer well-furnished apartments with fully-equipped kitchens, spacious living and dining spaces separate from bedrooms, complete with a wide range of recreational facilities, all designed to make you feel at home during your stay.

The Somerset properties offering the 'Comforts of Home' promotion are:
- Somerset on Elizabeth Melbourne (http://www.somerset.com/australia/melbourne/somerset_on_elizabeth.html)
- Somerset Gordon Heights Melbourne (http://www.somerset.com/australia/melbourne/somerset_gordon_heights.html)
- Somerset St Georges Terrace Perth (http://www.somerset.com/australia/perth/somerset_st_georges_terrace.html)
- Somerset on the Pier Hobart (http://www.somerset.com/australia/hobart/somerset_on_the_pier.html)

Enjoy the 'Live Large' Special at Citadines on Bourke Melbourne
Award-winning Citadines on Bourke Melbourne offers easy access to major business and financial offices as well as restaurants, entertainment areas, shopping precincts and theatres in the heart of Melbourne. Designed for savvy independent travellers on business or leisure, the stylish Apart'hotel features modern amenities and recreational facilities including a swimming pool, gym, sauna, outdoor sundeck and guest lounge.

For reservation or more information, please visit www.the-ascott.com, call 1800 766 377 or email enquiry.australia@the-ascott.com.

Terms and conditions
Promotions are valid from now till 31 January 2012. Rates are for apartment only and are inclusive of 10% Goods and Services Tax. Complimentary upgrade applies only to studio and one-bedroom apartments and will be applied at the point of reservation. Offer is subject to availability.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 7,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott, Citadines and Somerset. Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Jakarta, Indonesia -- (SBWIRE) -- 12/22/2011 -- The Ascott Limited's (Ascott) premier Ascott Jakarta (http://www.the-ascott.com/indonesia/jakarta/ascott_jakarta.html) has been named 'Leading Serviced Apartment and Suite' at the Indonesia Travel and Tourism Awards 2011/2012. The awards recognise outstanding brands and individuals in Indonesia's travel and tourism industry for their top quality services.

Mr Kenneth Rogers, Ascott's Country General Manager for Indonesia, said: "We are honoured to receive this prestigious award. This is a testament of Ascott's international service standards and our signature hospitality that is the hallmark of our strong brand reputation. At Ascott, we create memorable experiences for our residents through our unique LIFE approach to service excellence - providing a Local touch; respecting our guest's Individuality; offering the Feeling of home; and Exceeding expectations."

"Beyond providing an accommodation, our staff go the extra mile to make residents feel right at home. For instance, our staff teach Bahasa Indonesia to help residents understand and appreciate the local culture. We also take residents on tours of the local markets to introduce them to the Indonesian lifestyle. Our guests appreciate this warm hospitality and many of them have chosen Ascott as their preferred home away from home year after year. We are thankful for their continuous support," Mr Rogers added.

To deliver the Ascott experience to its guests, staff are imbued with Ascott's service values and they undergo specially designed training programmes at Ascott's global training centre in Singapore, the Ascott Centre for Excellence. Apart from providing guests with personalised services, the exclusive Ascott Jakarta enjoys a prime location in the heart of Jakarta's business and shopping district with a wide range of entertainment and dining options. Ideal for executives on business trips, relocation or on holiday, the serviced residence is close to various business institutions, embassies, attractions, the Convention Centre and major shopping malls such as Plaza Indonesia Shopping Complex, Grand Indonesia Shopping Town and Jakarta City Centre Shopping Mall.

Ascott Jakarta offers 198 spacious and elegantly designed apartments that range from studios to three-bedroom penthouses. Each apartment provides a fully-equipped kitchen, separate living and dining areas, home entertainment system and other modern amenities. Larger apartments with two or more bedrooms also come with a maid's room. The extensive facilities at the serviced residence include a swimming pool, sauna, tennis court, fully-equipped gymnasium, aerobics studio, children's playground and meeting rooms.

Ascott is currently the largest international serviced residence owner-operator in Indonesia with close to 1,900 serviced apartment units across 9 properties in Jakarta, Surabaya and Bali. This includes the new Citadines Rasuna Jakarta and Citadines Kuta Bali (both properties are scheduled to open in 2012), Ascott Kuningan Jakarta (opening in 2013) and Somerset Kencana Jakarta (opening in 2014). Besides Ascott Jakarta, Ascott currently operates Somerset Berlian Jakarta (http://www.somerset.com/indonesia/jakarta/somerset_berlian.html), Somerset Grand Citra Jakarta (http://www.somerset.com/indonesia/jakarta/somerset_grand_citra.html), Somerset Surabaya Hotel & Serviced Residence and Country Woods Jakarta.

For reservations and more information about Ascott Jakarta or Ascott's other properties, please visit www.the-ascott.com, call (62-21) 2995 6888 or email enquiry.jakarta@the-ascott.com.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 14 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 12/22/2011 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has clinched contracts to manage two properties in Foshan and Hong Kong SAR. The latest additions further strengthen Ascott's leadership position as the largest international serviced residence owner-operator in China with over 7,000 apartment units in 40 properties across 17 cities. The 186-unit premier Ascott M-City Foshan, which is Ascott's first serviced residence in Foshan, is slated to open in 2016. The 71-unit Somerset Victoria Park Hongkong will be Ascott's second serviced residence in Hong Kong when it opens in 2013. Ascott currently owns and operates Citadines Ashley Hongkong (http://www.citadines.com/china/hongkong/ashley.html) which is located in the bustling Tsim Sha Tsui district.

Mr Lim Ming Yan, Ascott's Chief Executive Officer, said: "China is one of Ascott's fastest growing markets. We entered Macau earlier this year and the addition of Foshan will enable us to further grow our scale in the Pearl River Delta region. With its established infrastructure and easy access to Guangzhou, Hong Kong and Macau, Foshan has attracted investments from many multinational companies such as Toshiba, Volkswagen and INVISTA. Foshan is also expected to become the largest manufacturing hub in Guangdong province. By having Ascott's first serviced residence in Foshan and a second property in metropolis Hong Kong, we are poised to cater to the strong demand for quality accommodation from the increasing number of expatriates and travellers in the region."

Mr Lee Chee Koon, Ascott's Managing Director for North Asia, said: "With our latest properties in Foshan and Hong Kong, Ascott has secured over 870 apartment units in six serviced residences in China so far this year. We also opened new properties in Shenzhen and Xi'an and are excited to open our exclusive Ascott IFC Guangzhou next year. Ascott is on track to almost double its China portfolio to 12,000 apartment units by 2015."

About Ascott M-City Foshan
Ascott M-City Foshan has a prime location in Foshan's newly-developed central business district - Dongping New Town. The serviced residence is part of the Dongping New Town Transportation Centre, which is a landmark development comprising Grade A offices and a shopping mall.

Several government offices, commercial developments and recreational facilities such as the Century Lotus Sports Centre and Foshan Park are within walking distance from the serviced residence. The train and metro stations located right next to Ascott M-City Foshan provide convenient access to Guangzhou and various destinations within Foshan.

When completed, the premier Ascott M-City Foshan will offer spacious and elegantly designed apartments ranging from studios to three-bedroom units. Residents can enjoy extensive facilities including a swimming pool, gymnasium, yoga room, reading room, business centre, conference room and breakfast lounge.

Somerset Victoria Park Hongkong

Ideal for business and leisure travellers, Somerset Victoria Park Hongkong is conveniently located near Victoria Park and Causeway Bay, which is one of Hong Kong's busiest commercial, retail and entertainment districts. The serviced residence is surrounded by office towers including AIA Tower, Citicorp Center and Manulife Tower. It is also close to the Hong Kong Convention and Exhibition Centre and Tin Hau Mass Transit Railway station.

Somerset Victoria Park Hongkong offers a range of stylish studio, one- and two-bedroom apartments. Residents can make use of the gymnasium at the serviced residence and enjoy a wide array of recreational facilities as well as dining and entertainment options in the nearby Causeway Bay Sports Ground and shopping malls including Times Square, Windsor House and Sogo.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with about 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 7,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG Travel Awards 2011 'Best Serviced Residence Operator' and TTG China Travel Awards 2011 'Best Serviced Residence Operator in China'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 11/27/2011 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has opened its third Citadines serviced residence in Xi'an. The new 138-unit Citadines Xingqing Palace Xi'an (http://www.citadines.com/china/xian/citadines_xian_xingqing_palace.html) strengthens Ascott's leadership position as the largest international serviced residence owner-operator in Xi'an and in China. Ascott currently also operates Citadines Central Xi'an (http://www.citadines.com/china/xian/central.html) (162 units) and Citadines Gaoxin Xi'an (http://www.citadines.com/china/xian/gaoxin.html) (251 units) while Somerset Gaoxin Xi'an (233 units) is expected to open in 2013. All four properties are in prime locations in the Hi-Tech Development Zone or the business district of Xi'an and are close to many tourist spots. In China, Ascott has about 7,000 apartment units in 38 properties across 16 cities.

Mr Lee Chee Koon, Ascott's Managing Director for North Asia, said: "Xi'an has immense potential for serviced residences. As a key economic hub in Central West China, foreign direct investments have been growing with many multinational companies such as IBM, Intel, Fujitsu and NEC setting up their national R&D centres in the city. Xi'an is also a famous tourist destination attracting millions of foreign and domestic travellers every year with its many historic sites. 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."

Citadines Xingqing Palace Xi'an is a five-minute walk to the historic Xingqing Palace Park, a popular tourist attraction built on the ruins of the palace dating back to the Tang dynasty. The serviced residence is also close to many shopping and entertainment outlets such as the Lifeng International Shopping Square, Jiaoda Computer Mall and Hongye Cinema. Academics and students from the nearby universities including Jiaotong University will find great convenience living in the new Citadines property.

Citadines Xingqing Palace Xi'an provides travellers with a comfortable and homely environment to suit individual lifestyles. Each of the spacious studios to two-bedroom apartments has a fully-equipped kitchen, an ensuite bathroom and separate work and sleeping areas. The serviced residence offers 24-hour reception, 24-hour security, meeting rooms, WiFi zones and business support services. For recreation, guests can make use of the fully-equipped gymnasium, sauna, steam room or yoga room. Residents also have the flexibility to choose from services including grocery shopping, laundry, dry cleaning and meal delivery to customise their stay experience.

To celebrate the opening of Citadines Xingqing Palace Xi'an, Ascott is offering introductory rates which start from RMB 350 for a studio. The rates are valid until 31 December 2011. For enquiries and reservations, please visit www.citadines.com, call 400 820 1028 or email enquiry.xian@the-ascott.com.

About The Ascott Limited
The Ascott Limited is the world's largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 14 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG China Travel Awards 2011 'Best Serviced Residence Operator in China' and TTG Travel Awards 2011 'Best Serviced Residence Operator'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

‘Around our Residences’ to help expatriates and travellers navigate in an unfamiliar city

Singapore -- (SBWIRE) -- 11/24/2011 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has launched a specially designed Facebook application, 'Around our Residences'. The new application provides expatriates and travellers with local insights to help them navigate the city during their stay at any of Ascott's serviced residences.

The application is a mash-up of Facebook and Google Maps, enabling users to share useful tips and get an inside peek to some of the unique finds one can discover within the vicinity of an Ascott serviced residence. 'Around our Residences' is available across Ascott's three Facebook pages, Ascott The Residence (http://www.facebook.com/Ascott.The.Residence?sk=app_169331296488607) , Citadines Apart'hotel (http://www.facebook.com/Citadines.Aparthotel#!/Citadines.Aparthotel?sk=app_295348993811427) and Somerset Serviced Residence (http://www.facebook.com/Somerset.Serviced.Residence#!/Somerset.Serviced.Residence?sk=app_137585639674890). Through recommendations from Residence Managers at Ascott, Citadines and Somerset properties and other Facebook fans on topics such as which supermarket to find the freshest produce or the nearest local bank, long-stay guests can quickly assimilate into the local community. Travellers can also tap into this digital resource to discover interesting local haunts, the coolest shops or the hippest bars.

Mr Tony Soh, Ascott's Chief Corporate Officer said: "Ascott constantly finds new ways to enhance our guests' experiences. We understand that relocating or travelling to a new city can be exciting yet intimidating. Hence, we launched 'Around our Residences' to create a dynamic resource to help expatriates and travellers settle into a foreign city with ease. With Ascott's global presence in more than 70 cities, we are able to leverage on the local knowledge of our Residence Managers globally to share timely and relevant information about the cities we are in. By engaging our almost 30,000 Facebook fans online, we aim to listen more actively to our guests, understand their needs and make them feel at home when they stay with us."

Ascott's Facebook fans are encouraged to share their own unique discoveries by entering the address of their tip. The application will automatically bring the user to the exact location on the map. Users can then share a few words, photos or even videos about the particular location. For every 5, 15 and 25 tips shared, the application will reward users with Ascott badges in recognition of their contributions.

From now till 28 November 2011, Ascott will be giving away free stays as part of the 'Ascott's Ultimate Resident' contest. Fans of Ascott can access the 'Around our Residences' application from any of Ascott's three Facebook pages and begin browsing or voting for their favourite tips. Contributors of the top five tips with the most votes will each win a three-night stay at any Ascott, Citadines or Somerset serviced residence worldwide. For more details on the 'Ascott Ultimate Resident' contest, please visit: http://www.the-ascott.com/ultimate_resident.

Besides Facebook, guests can connect with Ascott on Twitter, YouTube and Flickr to discover the latest news, promotions, opening specials, photos and videos from Ascott. For more information, please visit: http://www.the-ascott.com/connect.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 13 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', TTG China Travel Awards 2011 'Best Serviced Residence Operator in China', Business Traveller UK Awards 2011 'Best Serviced Apartment Company' and TTG Travel Awards 2011 'Best Serviced Residence Operator'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore -- (SBWIRE) -- 10/30/2011 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has expanded into a new country, Oman, by securing a management contract for a 220-unit serviced residence in Muscat, Oman's capital. To be named Somerset Panorama Muscat (http://www.somerset.com/ko/oman/musca/somerset_panorama_muscat.html), the serviced residence is scheduled to open in 2014.

Ascott has signed the management contract with Allied Real Estate LLC, an established Omani real estate company owned by Salim Bin Ali Bin Nasser Al Siyabi, who is a prominent business leader in Oman. With the addition of Somerset Panorama Muscat, Ascott will have a total of 1,085 apartment units across six serviced residences in the Gulf region.

Mr Lim Ming Yan, Ascott's Chief Executive Officer, said: "Oman has tremendous potential for serviced residences, as it continues to diversify and strengthen its economy. With significant government investment of about US$31 billion in areas such as tourism and infrastructure, Oman's GDP is expected to grow strongly over the next five years. Tourism is also forecasted to contribute up to 10% of Oman's GDP by 2020. Hence, we expect to see an influx of corporations, expatriates and tourists into Oman. Ascott will have first-mover advantage by being the first international serviced residence operator in Oman."

Mr Ronald Tay, Ascott's Chief Investment Officer who oversees the company's business in the Gulf region, said: "Ascott's growth strategy for the Gulf region is to build economies of scale by securing more management contracts. We will continue to expand our presence in Bahrain, Oman, Qatar and UAE, as well as look for opportunities in Kuwait and Saudi Arabia."

Somerset Panorama Muscat will be part of an integrated development with retail and leisure amenities, as well as a private hospital for women and children. Situated in the bustling Al Khuwair commercial district, the serviced residence is five minutes away from Ruwi, the central business district of Muscat where many global corporations and government ministries are located. The property is just 15 minutes away from the current Muscat International Airport and will be only 10 minutes from the new international airport, opening in 2014. In addition, the serviced residence is close to the city's key landmark, the Sultan Qaboos Grand Mosque.

Ideal for travellers who are on business or holiday with their families, Somerset Panorama Muscat will offer a range of stylish one-, two- and three-bedroom apartments. Guests will be able to experience the warmth of home and a balanced lifestyle through a comprehensive range of recreational facilities and residents' activities. Facilities include a gymnasium, residents' lounge, swimming pool, children's pool and playroom.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with over 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 6,000 units which are under development, making a total of more than 28,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across more than 20 countries, 13 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residence in Asia Pacific', Business Traveller Asia-Pacific Awards 2011 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', Business Traveller UK Awards 2011 'Best Serviced Apartment Company', TTG China Travel Awards 2011 'Best Serviced Residence Operator in China' and TTG Travel Awards 2011 'Best Serviced Residence Operator'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

On track to achieve 12,000 apartment units in China by 2015

Singapore -- (SBWIRE) -- 09/25/2011 -- CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (http://www.the-ascott.com/) (Ascott), has clinched contracts to manage two more properties in Chengdu and Beijing. The 181-unit Ascott Financial City Chengdu, which is the first premier Ascott-branded serviced residence in Chengdu, is slated to open in 2014. The 187-unit Somerset Wangjing Beijing, which is the first international brand of serviced residence in Beijing's thriving Wangjing business area, is scheduled to open in 2013.

With the latest additions, Ascott has further strengthened its leadership position as the largest international serviced residence owner-operator in China and is on track to achieve 12,000 apartment units in the country by 2015.

Mr Lee Chee Koon, Ascott's Managing Director for North Asia, said: "We are pleased to secure two more management contracts which add over 360 apartment units to our portfolio. Ascott will now have around 7,000 apartment units in 38 serviced residences across 16 cities in China. Our quick expansion in China demonstrates the importance of the country as a key growth market for us and our strong confidence in its future development. We will continue to tap on more opportunities in tier-1 cities like Beijing where we still see abundant demand for international serviced residences from business travellers and tourists. In the mean time, we are deepening our presence in high growth cities such as Chengdu where foreign direct investment and tourism are expected to increase exponentially in the next few years."

Ascott Financial City Chengdu

Ascott Financial City Chengdu is part of the landmark 58-storey Chengdu Financial City twin-tower development comprising Grade A offices and entertainment facilities. Located within New South Area, which is the up and coming business centre of Chengdu, the serviced residence will be surrounded by commercial developments such as Chengdu Financial Center and Tianfu Software Park, and the offices of many multinational companies including IBM, SAP and Symantec. Within walking distance are the Chengdu Ocean Park, Chengdu Opera House, Chengdu International Exhibition & Convention Center, shopping malls such as IKEA and GTC, and international schools. The property will be linked to a Metro station, providing convenient access to various destinations in the city including the Shuangliu International Airport.

Business and leisure travellers will be able to choose from a range of studios to four-bedroom apartments to suit their lifestyle needs. Facilities include a swimming pool, gymnasium, spa, sauna, children's playroom, business centre, meeting room and reading lounge.

Somerset Wangjing Beijing

Somerset Wangjing Beijing is strategically located in the bustling Wangjing business area within the Chaoyang District. Positioned as Beijing's second central business district, Wangjing is home to the China headquarters of many multinational companies including Daimler, Siemens and Caterpillar. Many Grade A office towers and commercial buildings will be developed to attract more corporations to set up offices in Wangjing. As the first international brand of serviced residence in Wangjing, Somerset Wangjing Beijing will enjoy first mover advantage in attracting expatriates and project teams who work in the area.

The serviced residence will offer studios, one-, two- and three-bedroom apartments. Residents can enjoy facilities such as a gymnasium, swimming pool, business centre and meeting room. They will also be able to travel easily throughout the city with the Metro station located right next to the serviced residence.

About The Ascott Limited
The Ascott Limited (http://www.the-ascott.com/) is the world's largest international serviced residence owner-operator with over 22,000 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 more than 28,000 units.

The company operates three brands – Ascott (http://www.the-ascott.com/index.html), Citadines (http://www.citadines.com/) and Somerset (http://www.somerset.com/). Its portfolio spans over 70 cities across 20 countries, 13 of which are new cities in Ascott's portfolio where its serviced residences are being developed.

Ascott, a wholly-owned subsidiary of CapitaLand Limited, is headquartered in Singapore. It pioneered Asia Pacific's first international-class serviced residence in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 27-year industry track record and serviced residence brands that enjoy recognition worldwide.

Recent awards include DestinAsian Readers' Choice Awards 2011 'Best Serviced Residencein Asia Pacific', TTG China Travel Awards 2011 'Best Serviced Residence Operator in China', Business Traveller UK Awards 2010 'Best Serviced Apartment Company', Business Traveller Asia-Pacific Awards 2010 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific' and TTG Travel Awards 2010 'Best Serviced Residence Operator'.

About CapitaLand Group
CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm