JULY 2002 NEWSLETTER OF THE ASCOTT GROUP VOL 2 N2 ... · JULY 2002 VOL 2 N2 MITA (P) NO....

ASCOTT LIVING July 2002 1

JULY 2002VOL 2 N2

MITA (P) NO. 301/08/2001ISSN: 0219-6107

LIVINGNEWSLETTER OF THE ASCOTT GROUP

Panoramic views of Tokyo Tower from Somerset Roppongi

(Continued on pg 2)Stylish living at Somerset residences in Japan

Strategic Partnership in Japan

The joint venture company, Ascott InternationalManagement Japan, will initially manage twoserviced residences – the 64-unit SomersetRoppongi and 79-unit Somerset Higashi Azabuowned by Mitsubishi Estate in Tokyo.

It targets to be Japan’s top serviced residencechain by 2005 and will expand its presencethrough acquiring or developing new servicedapartments, and through securing more servicedresidence management contracts.

The Ascott Group has formed a joint venture with one of Japan’slargest developers, Mitsubishi Estate Co Ltd, to own, develop andmanage serviced residences in Japan.

The partnership combines Ascott’s expertise in managing servicedresidences with Mitsubishi Estate’s knowledge of the propertybusiness to make inroads into Japan’s serviced residence market.

Ascott’s CEO Mr Kee Teck Koon said: “We are pleased andhonoured to have this opportunity to work with and learn fromMitsubishi Estate in developing the nascent Tokyo servicedresidence industry.”

Mitsubishi Estate is one of Japan’s largest real estate conglomerateswith US$20.5 billion assets, mainly in Tokyo.

3 Poised to Ride China’s Growth 4 Ascott Rebrands UK Serviced Residences 6 Enhancing Capital Productivity

8 The Ascott Race 10 Around The Residences 14 Ascott Directory 16 Promotions


Strategic FootholdThe Ascott Group’s entry into Japan is part of itsstrategy to become a leading serviced residenceoperator in gateway cities in North Asia, completingits market dominance in the Asia Pacific.

Mr Kee added: “The properties provide theoperational platform for our expansion in Japan.We see increased demand for serviced residences andother expatriate housing as Japan adopts policiesthat open its economy and attract foreign investors.

“As there is limited supply of four and five-starserviced residences in Tokyo, we have theopportunity to redefine the product and achievemarket impact quickly.”

He added that Ascott will reposition the Japaneseproperties for the wider international market.

“We will provide the residences with immediateaccess to our global customer base and salesnetwork. As Somerset residences, they will also beable to leverage the strength of our market leadingbrands in the Asia Pacific,” he said.

First Somerset Opens in TokyoThe first Somerset serviced residence in Japan,Somerset Roppongi Tokyo, was launched in July.

Located in Tokyo’s central business district, the64-unit residence is a five-minute walk fromRoppongi subway station on the Hibiya and OedoLine. It is also near subway stations such as Akasaka,Toranomon, Tameike-Sanno and Kamiyacho.

Ascott Establishes Strategic Partnership for Japanese Market (...Continued from pg 1)

A nurturing home at Somerset

(From left) Ascott’s COO Cameron Ong and Mitsubishi Estate’s Dty GMGenjiro Tanioka seal the partnership. Mr Tanioka is now President ofAscott International Management Japan.

For reservations, contactCentral Reservations or Somerset Roppongi Sales & ReservationsTelephone: (65) 6272 7272 Telephone: (81-3) 5575 5513Fax: (65) 6736 9806 Fax: (81-3) 3586 5144E-mail: [email protected] E-mail: [email protected]

Guests can choose from stylish studio to two-bedroomapartments.

As part of its launch, Somerset Roppongi is now beingrefurbished in phases. Its entrance, reception, and lobby are beingrenovated, and its apartments will be progressively upgraded toSomerset standards.

Staff at the residence are being trained on Ascott’s operationaland service delivery systems.

Another Somerset Early Next YearAscott will open Somerset Higashi-Azabu in the first quarternext year. Located in the prestigious Higashi-Azabu district inMinato ward, the residence is close to embassies and restaurants.

In addition, Ascott will assist in the management of 155apartments for corporate leasing. The apartments in the GreenPark Akasaka, Komazawa Garden House and NakameguroResidence are in Tokyo.

Summer SpecialTo mark its opening, Somerset Roppongi has introduced aSummer Special package.

Type of Residence Summer Special Rates* (Monthly, Yen)

Studio suite 382,500 – 423,300

1-bedroom suite 331,500 – 504,000

1-bedroom study suite 629,800 – 915,400

* Rates effective until August 31 2002. Terms & conditions apply.


Poised To Ride China’s Growth“Shanghai will grow rapidly as a financialcentre, with most of the world’s major financialinstitutions in the city. Today there are already263 Fortune 500 companies in Shanghai and158 in Beijing. The expatriate population hasswelled to 70,000 in Shanghai and 65,000 inBeijing. This critical mass will sustain demandfor serviced residences long after the Olympics,”added Mr Theseira.

Beijing office to lead expansionTo spearhead Ascott’s expansion in China, thegroup has set up Ascott Property Management(Beijing) Co Ltd as its country headquarters.

The Beijing office will lead Ascott’s efforts tosecure more serviced residence managementcontracts and expand its portfolio in China.

Mr Theseira said: “China’s serviced residencemarket is fragmented. Many of the residencesare small self-managed projects with littleeconomies of scale. We will leverage Ascott’sstrong brand presence, economies of scale andglobal marketing network to add value tobuilding owners.”

The Beijing office will also further clusterAscott’s support operations in China, to reapmore scale benefits and enable faster responseto the market.

The property management office is a co-operativejoint venture with the Beijing Foreign InvestmentService Centre, a subsidiary of the Ministry ofForeign Trade and Economic Council.

Celebrating the Beijing management office JV are (from left) Ascott’s COOCameron Ong and CEO Kee Teck Koon; and the Beijing Foreign InvestmentService Centre’s Asst Director Li Bao Wei

Ascott’s Residences in ChinaIN SHANGHAIThe Ascott Pudong – 248 unitsSomerset Grand Shanghai – 334 unitsSomerset Xu Hui – 167 units

IN BEIJINGThe Ascott Beijing – 272 unitsSomerset Fortune Garden — 221 units

IN TIANJINSomerset Olympic Tower — 169 units

The Ascott Group is poised to benefit from China’s burgeoningeconomy.

Already China’s largest international serviced residence chain with1,500 units in Beijing, Shanghai and Tianjin, Ascott aims toincrease its market share of the serviced residence business in thesecities to 25 per cent by 2005. It now commands 10 per cent marketshare.

Ascott’s chief corporate and investment officer, Mr Benett Theseira,said that China is expected to see US$60 billion in foreign directinvestments every year, between now and 2006. Its GDP is set tochalk impressive annual growth during the period.

“Interest fueled by the Olympics, China’s appeal to theinternational business community with its entry to the WTO, andhigh foreign investments will drive growth in the expatriatepopulation and demand for serviced residences,” he said.

Ready for the OlympicsAscott is now in negotiations with several parties to secure moreserviced residence management contracts in Shanghai, Beijing andother major Chinese cities. When Beijing holds the Olympics,Ascott will be ready.

Mr Theseira said: “In 2008, we will be well positioned to meetthe needs of the business community who will be in Beijing monthsor years ahead of the games, seeing to the infrastructural projects,event organisation, and the myriad of other business activities theOlympics will generate.”

More importantly, Ascott sees sustained demand for servicedresidences well beyond the Olympics.


Ascott’s Rebranded UK Residences - Operational

Somerset Prince’s Square37 units, Prince’s Square, Notting Hill, London

Close to the Portobello antiques market, restaurants,Notting Hill Gate underground station

Ascott Rebrands UK Serviced Residences

The group is rebranding part of its serviced residenceportfolio in London, Manchester and Glasgow.

It is repositioning 680 apartments, which werepreviously called Central Apartments, as SomersetResidences. Ascott secured management of theapartments following its joint venture with UKdeveloper Crown Dilmun late last year.

The rebranding is part of a major exercise to rationaliseAscott’s portfolio of 860 serviced apartments in theUK under its The Ascott and Somerset servicedresidence brands.

Somerset Roland Gardens94 units, Old Brompton Road, South Kensington, London

Close to Royal Albert Hall, Gloucester Roadand South Kensington stations

Launching Somerset – (from left) CapitaLand UK’s Chairman Sir Alan Cockshaw andCEO Martin Tan; Ascott’s CEO Kee Teck Koon, COO Cameron Ong and MD(UK) Brian Leong;and Crown Dilmun CEO Nick Sutton

Seeing Somerset – guests take a closer look atthe Somerset residences

Somerset Atrium116 units, Princess Street, Manchester

A restored Victorian building, close to thePalace Theatre, Chinatown

In the Asia Pacific, where Ascott is the largest serviced residencechain, The Ascott and Somerset brands are market leaders.

Strategic MarketThe Ascott Group, a leading international serviced residenceoperator, has over 8,000 serviced apartments in 20 cities acrossAsia, the UK and Australasia.

Sir Alan Cockshaw, director of Ascott’s parent companyCapitaLand Limited, and chairman of its subsidiaryCapitaLand UK Holdings, said: “London is a strategic marketfor the CapitaLand group, which has commercial, residentialand hospitality businesses in the UK.


Somerset Kensington Gardens40 units, Prince’s Square, Bayswater, LondonClose to Hyde Park, Kensington Palace,

underground stations

UnderDevelopment(Opening Second

Half 2002)

Somerset Queen’sGate Gardens108 units, Cromwell Road,South Kensington, London

Somerset Bayswater183 units, Bayswater, London

Somerset Merchant City,Glasgow102 units, Albion Street

“Ascott’s operational base in London will serve as a springboard forits entry into the other European cities such as Paris, Frankfurt, Brusselsand Milan. It is also an ideal platform for growing global brands.”

Ascott’s chief executive officer, Mr Kee Teck Koon, said: “Therebranding positions the UK properties for a wider internationalmarket. It also enables them to achieve greater synergies and scaleeconomies. Together, they will form a very competitive operationalbase to tap growth opportunities.”

In the Heart of LondonThe group has relaunched as Somerset Residences the operational94-unit Somerset Roland Gardens, South Kensington; 37-unit SomersetPrince’s Square, Notting Hill; 116-unit Somerset Atrium, Manchester;and 40-unit Somerset Kensington Gardens, Bayswater.

Over the next few months, Ascott will launch the renovated 108-unitSomerset Queen’s Gate Gardens, South Kensington; the new 183-unitSomerset Bayswater, London; and the new 102-unit Somerset MerchantCity, Glasgow.

The properties are being refurbished, and their amenities and services,repackaged. Staff are being trained on Ascott’s operational systems,in line with the worldwide product and service consistency thatinternational business travellers associate with The Ascott and Somersetbrands.

Mr Kee added: “Our UK staff have strengthened our human resourcebase, becoming part of our 2,800 employees worldwide. They willenrich our heritage and diversity. Although their perspective isinternational, they will always promote in our serviced residences inthe UK, the endearing local flavours of living in the UK.”

Existing Serviced Residences

The Ascott Mayfair56 units, Hill Street, Mayfair, London

In West London, close to shopping malls,restaurants and theatres

Somerset Bishopsgate48 units, Bishopsgate, London

Opposite Liverpool Street Station, close toTower of London and Tower Bridge

Corporate Leasing Residences

St Marks80 units, Islington, London

Near Angel and Old Street stations,easy access to business centres


Enhancing Capital ProductivityRealising Capital ValuesIn June, Ascott realised capital gains when it soldits stake in the 334-unit Somerset Grand Shanghaiserviced residence for US$23.1 million (S$41.5million). With the disposal, Ascott’s profit was S$1million.

Together with its joint venture partners, Ascott soldthe development to property investment companyRodamco Asia NV. Under the agreement, Ascottwill continue to manage the property for the nextfive years, with an option to renew the contractfor another five years on mutually agreed terms.

Somerset Grand Shanghai is Ascott’s first servicedresidence in Shanghai. Managed by Ascott sinceits opening in 1998, it has consistentlyoutperformed its peers in the Shanghai servicedresidence market in occupancy and rental rates.

Ascott’s CEO Mr Kee Teck Koon, said: “We arecommitted to building a dominant presence in keycities in China. However, we will periodically andselectively sell mature serviced residence assets torealise capital values of the properties which wehave developed, or added value to, while retainingthe management of the properties.

“We will then reinvest the capital in new and highergrowth projects or markets. The disposal of

Costa Sands Resort

At Somerset Grand Shanghai

Ascott is selectively divesting its properties to channel capitalinto higher yielding investments and grow future shareholdervalue.

It is disposing non-core properties, realising capital gains onselected serviced residence assets, and selling non-incomegenerating greenfield developments in its portfolio.

The proceeds will be used to fund investments in higher yieldingserviced residence projects and Ascott’s expansion in Japan,Korea, and European cities such as Paris, Brussels and Berlin.

Divesting Non-Core AssetsIn May and June, Ascott divested three non-core properties. It exited its resorts businesswith the disposal of its Costa Sands EastCoast and Costa Sands Pasir Ris chalets inSingapore for S$10.85 million.

It also sold its stake in a freehold site inWandsworth, London for a profit of S$11.6million. The land was previously acquired formixed use development.

The divestments are in line with its strategyto focus on its main serviced residencebusiness, where it already commands marketleadership as the Asia Pacific’s largest servicedresidence chain.


Proceeds from asset sales will be used to fund Ascott’s expansion inNorth Asia and Europe. Ascott plans a global footprint that spansEurope, Asia, Australasia and the US by 2005

Recipe for SuccessWhip up a party, spice up life with new friends, garnish with memories– these are some ingredients in creating the recipe for successfully livingabroad.

Ascott is inviting expatriates to share their insights in its ‘Recipe forSuccess’ contest. They can drop off their tips on anything from learninga new language to finding new schools for their children at Ascott’swebsite at www.the-ascott.com.

The three most engaging and original entries will win a week’s stay atany Ascott residence in 19 cities. The contest ends on August 31.

slated for residential and serviced residencedevelopment.

Mr Kee said: “Rather than invest substantialfunds to develop greenfield projects, we willpartner international financial investors andinvest in operational or near operational servicedresidence projects that are income generating.

“This is particularly in cities such as Shanghai,where there are many quality residentialbuildings that can be operated as servicedresidences. This will enable us to achieve highercapital productivity and be asset light, even aswe rapidly expand our global portfolio.”

Somerset Grand Shanghai

Somerset Grand Shanghai, with retention of the managementcontract, is illustrative of actions we are taking to boost our returnon equity, and at the same time, grow our global footprint withoutstraining our capital base.”

Selling Greenfield ProjectsIn June, Ascott also sold its interest in a plot of land in the primeLuwan district in Shanghai for a gain of S$2 million.

Together with its Singapore-based joint venture partners, it sold itsentire stake in the holding company, which partially owned the site,to a China based developer. The 10,000 sqm plot was originally


The Ascott RaceResidents and business associates of The AscottGroup recently enjoyed a fast paced evening atthe Singapore Turf Club.

They were at the annual The Ascott Cup racewhich was being held to celebrate Ascott’sachievements, in its race for pole position in thecities it operates in.

The group’s CEO, Mr Kee Teck Koon, said: “Aswe race for global leadership of the servicedresidence industry, we need you to continue toplace your bets on us, and our The Ascott andSomerset residences.”

Strategising the win - (from left) Ascott Chief Corporate andInvestment Officer Benett Theseira and a guest

Ready for the race

“Place your bets on us” – Ascott CEO Kee Teck Koon

We’ve won - Delighted guests

Supporting the race - (from left) Ascott Director Lim Jit Poh, CapitaLand’sCFO Lui Chong Chee and President & CEO Liew Mun Leong; The AscottJakarta’s Asst Sales Mgr Lina Sugiarto and a guest


As guests bet on The Ascott Cup, they enjoyed abuffet of specialties from the 20 cities the groupoperates in. On hand to tell them more about TheAscott and Somerset residences in the variouscountries, were the residences’ managers, attired innational costumes.

To mark Ascott’s recent expansion in Australia andthe UK, guests took home souvenirs of a miniatureLondon taxi and koala bear, in addition to a luckyhorseshoe.

Talking business over horses - (extreme right) Ascott Senior VPSimon Ho with guests

Winning wear at the races

Discussing winners - (from left) Mrs Lim Chin Beng, Ascott’s ChairmanLim Chin Beng and Director Chandra Das

Guests picking winners

Taking a piece of London home – miniature London taxis


Around the Residences

Swooning overthe aroma

Tropical Fruits GaloreThe durian made a scent-sational impression at a tropicalfruit party for guests of The Ascott and Somersetresidences in Singapore in May.

For many, it was their first encounter with the infamousfruit. While most savoured the novel experience, a fewsniffed and decided to give it a wide berth.

Resident Mr Rajesh Jairath from Somerset Orchard, said:“I don’t think I want that durian again, but the jambu isrefreshing.” Guest Mrs Ignatio from The Ascott Singaporesaid: “A most interesting experience. I’m trying some ofthese fruits for the first time.”

About 100 residents joined the poolside fun at SomersetGrand Cairnhill for a ‘crash-course’ sampling of tropicalfruits including mangosteens, jambus, lychees, rambutansand Sarawak pineapples.

After a quick lesson, several guests had a go at prisingopen durians and mangosteens. Needless to say, it was ahilarious and messy affair.

A hairy taste adventure with rambutans

Kids Have All The FunIt was party time for kids at Tam Binhorphanage in Ho Chi Minh City, when a25-strong staff choir from SomersetChancellor Court and Somerset Ho ChiMinh City came visiting. They broughtsongs and presents from guests and staffof the two serviced residences, and aninternational kindergarten at the residence.

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Taking a closer look at the ‘King of Fruits’


Homegrown TalentStaff from Vietnam’s Somerset Chancellor Court and SomersetHo Chi Minh City had guests in stitches. The homegrownband’s delightful rendition of “Somerset – Home of Fun” wasdone with brooms, buckets and lots of style. The witty lyricswere penned by Somerset Chancellor Court’s GM, Jerry Gan.

A Blazing StartResident Mrs Koy from Somerset OlympicTower, Tianjin, helped give the New Year aresounding start. Supporting her are fellow guestsand the property’s staff.

Rafting It OutAdventurous residents from The Ascott Jakarta, SomersetGrand Citra and Country Woods roughed out the choppywaters of the Citarik River in May. Working as a team in tworafts, they triumphed the rapids.

Straight From The Lion’s MouthA guest receives ‘prosperous’ oranges from a lionat the Lunar New Year festivities at The AscottKuala Lumpur.

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“It was a thrill to stay at The Ascott.

I love the guest services – the staff were

all really nice, friendly and fun. I’ll do

my best to return to Malaysia sometime,

and when I do, I’ll stay at The Ascott.”

- S. Woolley, The Ascott Kuala Lumpur, Malaysia


Shanghai Kids’ DayChildren of residents from The Ascott Pudong,Somerset Grand Shanghai and Somerset XuHui in China enjoyed a party of games forChildren’s Day. Some 60 kids had the run ofthe clubhouse at Somerset Xu Hui, as staffmade sure they had fun.

A Sumo FeatResidents at Somerset Liang Court in Singapore gota megadose of Japanese culture in March. HeftySumo stars demonstrated Japanese wrestling at theadjoining Liang Court Shopping Centre, as part ofa Japanese promotion. The wrestlers provided guestswith rare picture postcard moments. At the event,guests also learnt more about traditional Japanesesports and dances.

Elegance Vietnamese StyleVietnamese high fashion tookcentrestage at Somerset GrandHanoi in May. Residents fromSomerset Grand Hanoi andSomerset West Lake weretreated to well-known localdesigner F Silk’s dazzling showof elegant evening wear thatcombined the traditional andcontemporary.

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In ChinatownA recent afternoon in bustling Chinatown was a sensoryadventure for guests of The Ascott and Somerset residences inSingapore. They savoured the colour, quaint sights and smells,examined the unusual wares, and tasted delicacies in the web ofChinatown streets – as a guide explained Chinese culture.

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Around the Residences (...Continued from pg 11)


Hawaiian HighThe Limbo Rock challenge did not go unchallenged at theHawaiian Breeze party at Somerset Grand Citra, Jakarta.While a band played Hawaiian music, guests swayed orsportingly flexed their dexterity under poles, urged on byfellow residents.

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Highland GetawayResidents of Somerset Gateway Kuching got back tonature at a Borneo highland excursion in April. Theytrekked through Sarawak’s dense jungles, the world’ssecond oldest tropical rainforest.

The Sound of MusicThe sound of Scottish musicfilled The Ascott Jakarta in May.Residents were treated to liltingtunes by The St Mary’s DistrictPipe Band from Australia, whowere in Jakarta for the AnnualHighland Gathering. The AscottJakarta was host to the bandmembers, who decided to talkmusic with fellow guests.

Shanghai SurpriseTossing the fortune salad was a high point with guestsfrom The Ascott and Somerset residences in Shanghaiduring the Lunar New Year festivities. They alsojoined in the making of traditional delicacies.


The Ascott GroupThe Ascott Group Limited (Corporate Office) Tel: (65) 6220 8222 Fax: (65) 6227 2220

Website: www.the-ascott.com

Ascott International Management Tel: (65) 6220 8222 Fax: (65) 6227 2220

Central Reservations Tel: (65) 6272 7272 Fax: (65) 6736 9806Email: [email protected]

The Ascott Serviced ResidencesCITY PROPERTY/ADDRESS TEL FAX

Auckland The Ascott Metropolis (64-9) 300 8800 (64-9) 300 88991 Courthouse Lane, Auckland, New Zealand

Bangkok The Ascott Piraya (Opening Q4, 2003)

Beijing The Ascott Beijing (86-10) 6567 8100 (86-10) 6567 8122108 Jian Guo Road, Chaoyang District, Beijing 100022, China

Jakarta The Ascott Jakarta (62-21) 391 6868 (62-21) 391 33682 Jalan Kebon Kacang Raya, The Golden Triangle, Jakarta 10230, Indonesia

Kuala Lumpur The Ascott Kuala Lumpur (60-3) 2142 6868 (60-3) 2142 98889 Jalan Pinang, 50450 Kuala Lumpur, Malaysia

London The Ascott Mayfair (44-20) 7499 6868 (44-20) 7499 070549 Hill Street, Mayfair, London W1J 5NB, United Kingdom

Shanghai The Ascott Pudong (86-21) 6886 0088 (86-21) 6886 00013 Pudong Avenue, Shanghai 200120, China

Singapore The Ascott Singapore (65) 6735 6868 (65) 6733 75616 Scotts Road, Singapore 228209

Somerset Serviced ResidencesCITY PROPERTY/ADDRESS TEL FAX

Bangkok Somerset Lake Point (66-2) 663 1234 (66-2) 663 125041 Sukhumvit Soi 16, Klongtoey, Bangkok 10110, Thailand

Somerset Riverton (Opening Q4, 2003)

Somerset Thonglor (66-2) 714 9200 (66-2) 714 920223 Soi Chaem Chan (Soi Thonglor 20), Sukhumivit 55 RoadKlongton Nua, Wattana, Bangkok 10110, Thailand

Beijing Somerset Fortune Garden (86-10) 8451 8888 (86-10) 8451 886646 Liang Ma Qiao Road, Chaoyang District, Beijing 100016, China

Glasgow Somerset Merchant City (opening Q4, 2002)

Hanoi Somerset Grand Hanoi (84-4) 934 2342 (84-4) 934 234349 Hai Ba Trung Street, Hanoi, Vietnam

Somerset West Lake (84-4) 843 0030 (84-4) 823 6916254D Thuy Khue Street, Hanoi, Vietnam

Ho Chi Minh City Somerset Chancellor Court (84-8) 822 9197 (84-8) 822 175521-23 Nguyen Thi Minh Khai Street, District 1, Ho Chi Minh City, Vietnam

Somerset Ho Chi Minh City (84-8) 822 8899 (84-8) 823 44738A Nguyen Binh Khiem Street, District 1, Ho Chi Minh City, Vietnam

Jakarta Somerset Grand Citra (62-21) 522 5225 (62-21) 522 3737Jalan Prof Dr Satrio Kav 1, Kuningan, Jakarta 12940, Indonesia

Kuching Somerset Gateway (60-82) 250 958 (60-82) 259 9589 Jalan Bukit Mata, 93100 Kuching, Sarawak, Malaysia

London Somerset Bayswater (Q4, 2002)

Somerset Bishopsgate (44-20) 7621 8788 (44-20) 7621 8700196 Bishopsgate, London EC2M 4NR, United Kingdom

Somerset Kensington Gardens (44-20) 7908 9188 (44-20) 7908 918933-36 Prince’s Square, London W2 4NP, United Kingdom

Somerset Prince’s Square (44-20) 7313 7888 (44-20) 7313 788974-76 Prince’s Square, London W2 4NP, United Kingdom

Somerset Queen’s Gate Gardens (Opening Q3, 2002)

Somerset Roland Gardens (44-20) 7341 6800 (44-20) 7341 6801121 Old Brompton Road, South Kensington, London SW7 3RX, United Kingdom

Manchester Somerset Atrium (44-161) 235 2000 (44-161) 235 200174 Princess Street, Manchester, M1 6JD, United Kingdom

Manila Somerset Millennium, Makati (63-2) 888 0505 (63-2) 812 7721104 Aguirre Street, Legaspi Village, Makati City 1229, Manila, Philippines

Somerset Salcedo, Makati (63-2) 888 6668 (63-2) 888 6655H V Dela Costa Corner L P Leviste Street, Salcedo Village, Makati City, Philippines

Melbourne Somerset Elizabeth (Opening Q1, 2003)


Corporate Leasing

The HeritageThe Heritage SingaporeTEL (65) 6736 9717FAX (65) 6736 9806

Other ResidencesBangkok Kallista Residences (66-2) 651 0690-7 (66-2) 651 0699

Lake Point Residences (66-2) 663 1234 (66-2) 663 1250Jakarta Country Woods Estate (62-21) 740 1245 (62-21) 749 1365Kuala Lumpur Suasana Sentral Residences (603) 2273 9922 (603) 2273 9944London St Marks (44-20) 7253 2039 (44-20) 7253 2039Singapore Char Yong Gardens (65) 6735 5725 (65) 6735 8291

Portofino (65) 6736 9717 (65) 6736 9806Tokyo Green Park Akasaka (81-3) 5573 8800 (81-3) 5573 8804

Komazawa Garden House (81-3) 5486 9922 (81-3) 5486 9121Nakameguro Residence (81-3) 3714 1131 (81-3) 3714 3781

CITY PROPERTY/ADDRESS TEL FAX

Shanghai Somerset Grand Shanghai (86-21) 6385 6888 (86-21) 6384 89888 Jinan Road, Luwan District, Shanghai 200021, China

Somerset Xu Hui (86-21) 6466 0888 (86-21) 6466 4646888 Shanxinan Road, Xu Hui District, Shanghai 200031, China

Singapore Somerset Grand Cairnhill (65) 6835 2900 (65) 6735 577515 Cairnhill Road, Singapore 229650

Somerset Compass (65) 6732 7737 (65) 6732 80682 Mt Elizabeth Link, Singapore 227973

Somerset Liang Court (65) 6337 0111 (65) 6336 0281177B River Valley Road, #01-00 Liang Court, Singapore 179032

Somerset Orchard (65) 6735 0500 (65) 6831 1811160 Orchard Road #06-01 Orchard Point, Singapore 238842

Project at Bencoolen Street (Opening Q4 2003)

Surabaya Somerset Puri Darmo (62-31) 732 6066 (62-31) 732 628717A Jalan Raya Kupang Baru, Surabaya 60189, Indonesia

Somerset Surabaya (62-31) 732 8738 (62-31) 734 7198Jalan Raya Kupang Indah, Surabaya 60189, Indonesia

Sydney Somerset Hyde Park (61-2) 9283 8811 (61-2) 9283 8899281 Elizabeth Street, Sydney, NSW 2000, Australia

Tianjin Somerset Olympic Tower (86-22) 2335 5888 (86-22) 2335 3555126 Chengdu Dao Heping District, Tianjin 300051, China

Tokyo Somerset Roppongi Tokyo (81-3) 3568 3939 (81-3) 3586 51443-4-31 Roppongi, Minato-ku, Tokyo, Japan

Somerset Higashi-Azabu (Opening Q1, 2003)

Other Serviced Residences Managed by Ascott International Management

CITY PROPERTY/ADDRESS TEL FAX

Bangkok Omni Tower (66-2) 656 8300 (66-2) 656 833369 Sukhumvit Soi 4 (Soi Nanatai), Klongtoey, Bangkok 10110, Thailand

Beijing Luxury Serviced Apartments (Opening Q4, 2002)

Oakford Serviced Residences, AustraliaHobart Oakford on the Pier (61-3) 6220 6600 (61-3) 6224 1277

Elizabeth Street Pier, Hobart, TAS 7000, Australia

Oakford on Salamanca (61-3) 6220 6600 (61-3) 6224 12778 Salamanca Place, Hobart, TAS 7000, Australia

Melbourne Oakford on Collins (61-3) 9639 1811 (61-3) 9639 2423182 Collins Street, Melbourne, VIC 3000, Australia

Oakford Gordon Place, Melbourne (61-3) 9663 2888 (61-3) 9639 153724 Little Bourke Street, Melbourne, VIC 3000, Australia

Oakford Gordon Towers (61-3) 9663 3317 (61-3) 9663 109543 Lonsdale Street, Melbourne, VIC 3000, Australia

Oakford on Lygon (61-3) 8341 4777 (61-3) 8341 47992- 9 Finlay Place, Carlton, VIC 3053, Australia

Oakford The Mews (61-3) 9823 8888 (61-3) 9823 88999 Balmoral Street, South Yarra, VIC 3141, Australia

Oakford Ultimate (61-3) 9823 8888 (61-3) 9823 8899Corner of Cromwell Road and Surrey Road North, South Yarra, VIC 3141, Australia

Sydney Oakford Darling Harbour (61-2) 8280 5000 (61-2) 8280 5050252 Sussex Street, Darling Harbour, NSW 2000, Australia

Oakford Potts Point (61-2) 9358 4544 (61-2) 9357 116210 Wylde Street, Potts Point, NSW 2011, Australia

Oakford City West (61-2) 9557 6100 (61-2) 9557 609923-33 Missenden Road, Camperdown, NSW 2050, Australia

Oakford Riverside North Ryde, Sydney (Opening Q1, 2004)


The Ascott GroupNo 8 Shenton Way #13-01

Temasek Tower Singapore 068811

Tel: (65) 6220 8222 Fax: (65) 6227 2220

Website: www.the-ascott.com

No part of this publication may be quoted or reproduced without the prior permission of the copyright holders, The Ascott Group. Printed by Ad Graphic Pte Ltd

Ascott Living is a newsletter of The Ascott Group

If you have queries or contributions for the newsletter, please call thegroup’s Investor Relations & Corporate Communications departmentat tel: (65) 6586 7232 or email: ir&[email protected]

PROMOTIONS

CHINA

BANGKOK

THAILAND

Rest And Relax PackageUntil September 30, 2002

MANILA

Manila Magic PackageUntil September 30, 2002Book a studio suite for one night’sstay at US$55 nett and enjoy acomplimentary buffet breakfast for two.

Call Somerset Millennium, MakatiTel: (63-2) 888-0505

Call Somerset Salcedo, MakatiTel: (63-2) 888-6668

PHILIPPINES

AUCKLAND

Winter Paradise PackageUntil August 31, 2002Stay in a deluxe one-bedroom suitefor NZ$199 + gst and receive NZ$50credit to spend in Magistratesrestaurant, Recess bar or room service.Or choose a premier two-bedroomsuite for NZ$299 + gst and receiveNZ$100 credit.

Call The Ascott MetropolisTel: (64-9) 300 8800

NEW ZEALAND

VIETNAM

Call Somerset Chancellor CourtTel: (84-8) 822 9197

Call Somerset Grand HanoiTel: (84-4) 934 2342

Call Somerset Ho Chi Minh CityTel: (84-8) 822 8899

Call Somerset West LakeTel: (84-4) 843 0030

Book your favourite package with Central Reservations Tel: (65) 6272 7272 or call the serviced residences.

SHANGHAI

Family Fun PackageUntil August 31, 2002Have fun together as a family with our 3-day,2-night package. Enjoy continental breakfastsand explore the Shanghai Ocean Aquarium,with our compliments. Package includes usageof our clubhouse facilities and late checkout timeof 4 pm.

Call The Ascott Pudong, ShanghaiTel: (86-21) 6886 0088

Apartment Type 3-day 2-night Extra nightUS$ US$

2-bedroom suite 320 140


Call Somerset Grand ShanghaiTel: (86-21) 6385 6888




Call Somerset Xu Hui, ShanghaiTel: (86-21) 6466 0888




Take a rest from the daily grind with our 3-day,2-night Bangkok packages. The suites come withcomplimentary continental breakfasts, dailymaid service, one-way airport transfer and latecheckout time of 4 pm.

Call Somerset Lake Point Tel: (66-2) 663 1234


Studio suite 80 36



Call Somerset ThonglorTel: (66-2) 714 9200


2-bedroomsuper deluxe 135 60

3-bedroom standard 143 64

3-bedroom superior 170 78

Call Omni TowerTel: (66-2) 656 8300


Studio suite 78 33

1-bedroom standard 100 42

2-bedroom superior 127 58

HANOI, HO CHI MINH CITY

Good Morning Vietnam PackageUntil September 30, 2002Take in the sights and sounds of vibrantVietnam. The 4-day, 3-night package isinclusive of a one-way airport transferand 10% VAT.

Residence 2-bedroom 3-bedroomsuite suiteUS$ US$

Somerset 240 330Chancellor Court

Somerset Grand 255 420Hanoi

Somerset Ho Chi 240 330Minh City

Somerset 225 -West Lake

BEIJING

Experience Beijing PackageUntil August 31, 2002Take up our 3-day 2-night package and enjoydaily complimentary breakfasts and clubhousefacilities such as an indoor swimming pool,gym and snooker room.

Call The Ascott BeijingTel: (86-10) 6567 8100




Call Somerset Fortune Garden, BeijingTel: (86-10) 8451 8888




TIANJIN

Hot Summer, Cool Deal PackageUntil August 31, 2002Chill out at our one-bedroom apartment forUS$80 nett per night, or our two-bedroom suiteat US$100 nett. This offer is inclusive of dailycontinental breakfasts.

Call Somerset Olympic TowerTel: (86-22) 2335 5888

JULY 2002 NEWSLETTER OF THE ASCOTT GROUP VOL 2 N2 ... · JULY 2002 VOL 2 N2 MITA (P) NO....

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