Ascott goes to Kazhakstan

The two servicedresidences will be named Ascott Astana and Citadines Aktau. Ascott was awardedthe contracts by Tsesna Corporation, a well-established conglomerate in Kazakhstan withdiverse businesses ranging from real estate and construction to banking.

 

Lim Chin Beng,Ascott’s Chairman said: “Ascott’s entry into Kazakhstanis part of our strategy to further strengthen the Group’s global presence byventuring into emerging cities in Russia and the Commonwealth ofIndependent States. ”

 

Astana as the newcapital of Kazakhstanhas been fast developing as an attractive financial and investment hub.

The 200-roomAscott Astana is targetted to open in the first half of 2009. When completed,it will be located in the heart of the city where new iconic real estateprojects are being developed.

 

The 120-roomCitadines Aktau is also targetted to open in the first half 2009. Aktau is in Western Kazakhstan, one of the country’s leading economicregions due to its rich oil and gas resources.

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