Ascott adds eighth Singapore property

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Citadines Fusionopolis Singapore (photo by JTB Corp)
Citadines Fusionopolis Singapore (photo by JTB Corp)

Ascott has expanded its portfolio in Singapore with the signing of a new property in the One-North business park, the city’s research & development hub.

The 50-unit serviced residence is already operating as a Fraser Place and will be rebranded as the Citadines Fusionopolis Singapore from 1 April 2016. It will become Ascott’s eighth property in Singapore.

“Demand for our serviced residences remains strong in our home ground Singapore, driven largely by the inflow of foreign investment and various government initiatives to reinvent Singapore as an exciting business and leisure destination,” said Anthony Khoo, head of Ascott’s Singapore cluster.

“The country is amongst our best performing markets after China, France and the United Kingdom. Ascott properties in Singapore have been achieving strong occupancy of above 80% and this property at Fusionopolis in one-north business park will give us an added advantage.”

Citadines Fusionopolis Singapore forms part of the 30-hectare Fusionopolis precinct in the One-North development, close to F&B and retail outlets, a medical centre and MRT station. The property offers a sky terrace, a lounge with outdoor seating area and a gym.

And Ascott’s Singapore growth will continue in early 2017 with the opening of the 20-storey, 220-unit Ascott Orchard Singapore. This will take the company’s citywide inventory to in excess of 1,000 units across nine properties.

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