Ascott opens 3rd property in Shenzhen

The Ascott Limited, is expanding its presence in China with the opening of its third property in Shenzhen.

Located in Nanshan District, the city’s technology and industrial hub,
Ascott Raffles City Shenzhen is part of CapitaLand’s flagship Raffles City integrated
development – which also comprises a 70,000-sqm mall with more than 200 shops, and a 23-
storey office tower, and is designed by world-renowned architecture firm Benoy.

Mr Tan Tze Shang, Ascott’s Managing Director for China, said: “Known as the new Silicon
Valley, Shenzhen is one of the world’s top innovation hubs and home to high-tech companies
from all over the world, including new-tech giants such as Huawei, ZTE and Tencent. With the
addition of Ascott Raffles City Shenzhen, Ascott now has more than 900 units across five
serviced residences in one of China’s most competitive cities with high demand for
accommodation. Out of the five properties, three are in operation while two more will open
next year. Given its strategic location connecting prominent financial centres, proximity to
transportation networks and being part of an integrated development under the iconic Raffles
City brand, Ascott Raffles City Shenzhen offers business executives and leisure travellers the
convenience of a one-stop work, retail and recreational destination.”

In China, three other properties which are part of the Raffles City-branded integrated
developments include Ascott Raffles City Beijing and Ascott Raffles City Chengdu, both of
which are already operational, as well as Ascott Raffles City Hangzhou which is slated to open
in 3Q 2018.