July 11, 2014 4:29 AM ET

Real Estate Management and Development

Company Overview of The Ascott Limited

Company Overview

The Ascott Limited operates as a serviced residence owner-operator. It operates a portfolio of serviced residence units in London, Paris, Brussels, Berlin, and Barcelona in Europe; Singapore, Bangkok, Hanoi, Kuala Lumpur, Tokyo, Seoul, Shanghai, Beijing, and Hong Kong in Asia; Melbourne and Perth, Australia; Bangalore and Chennai, India; and Dubai, Doha, and Manama in the Gulf region. The company was formerly known as Scotts Holdings Limited and changed its name to The Ascott Limited in December 1999. The company was incorporated in 1979 and is based in Singapore with a network of offices internationally. The Ascott Limited operates as a subsidiary of CapitaLand Limited.

168 Robinson Road

#30-01 Capital Tower

Singapore,  068912


Founded in 1979


65 6713 2888


65 6713 2121

Key Executives for The Ascott Limited

Chief Executive Officer
Age: 39
President and Director
Age: 70
Chief Financial Officer and Joint Company Secretary
Age: 50
Chief Product & Operations Officer
Deputy Chairman
Age: 68
Compensation as of Fiscal Year 2014.

The Ascott Limited Key Developments

The Ascott Limited Secures Agreements to Manage Two More Serviced Residences in Vibrant Port City of Jeddah

The Ascott Limited has deepened its presence in Saudi Arabia as it secured agreements to manage two more serviced residences in the vibrant port city of Jeddah. The 51-unit Citadines Sari Jeddah is slated to open in 2015 while the 135-unit Somerset Corniche Jeddah, the first Somerset-branded serviced residence in Saudi Arabia, will open in 2016. The additions will strengthen Ascott's portfolio in Saudi Arabia to nearly 700 apartment units across five serviced residences. In the Gulf Cooperation Council (GCC), Ascott's portfolio will increase to more than 1,700 apartment units across 11 properties in Bahrain, Qatar, Oman, Saudi Arabia and the United Arab Emirates. The management agreements for Citadines Sari Jeddah and Somerset Corniche Jeddah are awarded by United Spectrums Holding. Besides Citadines Sari Jeddah and Somerset Corniche Jeddah, Ascott will manage the 125-unit Ascott Tahlia Jeddah and the 122- unit Citadines Al Salamah Jeddah for the Group when the properties open in 2015. In the GCC, Ascott is also scheduled to open Ascott Olaya Riyadh, as well as its first properties in Oman, Somerset Panorama Muscat and Sohar Garden Residences, in 2015.

THE Ascott Limited Wins Contracts to Manage Four More China Properties

THE Ascott Limited has secured contracts to manage four more properties in China. These properties, housing more than 900 apartment units, have pushed its global portfolio past the 35,000-apartment unit mark. The company, which operates three brands - Ascott, Citadines and Somerset - has over 23,000 operational serviced residence units in the Asia-Pacific, Europe and the Gulf; more than 11,000 more are being developed. Among the four new properties in China is the 170-unit Ascott Taiyuan, the company's first serviced residence in Taiyuan, which lies about 400 kilometres south-west of Beijing. This property is to open in 2018. Two others, the 195-unit Ascott Riverside Garden Beijing and 342-unit Somerset Sunland Shanghai, are scheduled to open in 2016. The fourth is an operational property in Dalian, which has been rebranded as the 195-unit Somerset Grand Central Dalian.

The Ascott Limited Secures its First Franchise Agreements in Vientiane and Bali

The Ascott Limited (Ascott), has secured its first franchise agreements in Vientiane, and Bali, Indonesia. The agreements are for an operating serviced residence in Vientiane that will be rebranded as a 116-unit Somerset Vientiane in the fourth quarter of 2014, and a 194-unit Citadines Kuta Beach Bali that is scheduled to open in August 2014. Ascott awarded the franchise for Somerset Vientiane to a subsidiary of LCD Global Investments Ltd, a real estate and hospitality group listed on the Singapore stock exchange. Under the agreement, the serviced residence will be managed by Ascott for the first two years to ensure that it is refurbished to Somerset brand standards before transitioning to a franchise arrangement. The franchise for Citadines Kuta Beach Bali was awarded to PT Menara Permata Propertindo. Ascott is also managing Somerset Kencana Jakarta for the company and the property is slated to open in 2015.

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