The 71-unit Somerset Victoria Park Hongkong will be Ascott's second serviced residence in Hong Kong when it opens in 2013. Ascott currently owns and operates Citadines Ashley Hongkong which is located in the bustling Tsim Sha Tsui district. Mr Lim Ming Yan, Ascott's Chief Executive Officer, said: "China is one of Ascott's fastest growing markets. We entered Macau earlier this year and the addition of Foshan will enable us to further grow our scale in the Pearl River Delta region. With its established infrastructure and easy access to Guangzhou, Hong Kong and Macau, Foshan has attracted investments from many multinational companies such as Toshiba, Volkswagen and INVISTA. Foshan is also expected to become the largest manufacturing hub in Guangdong province. By having Ascott's first serviced residence in Foshan and a second property in metropolis Hong Kong, we are poised to cater to the strong demand for quality accommodation from the increasing number of expatriates and travellers in the region." Mr Lee Chee Koon, Ascott's Managing Director for North Asia, said: "With our latest properties in Foshan and Hong Kong, Ascott has secured over 870 apartment units in six serviced residences in China so far this year. We also opened new properties in Shenzhen and Xi'an and are excited to open our exclusive Ascott IFC Guangzhou next year. Ascott is on track to almost double its China portfolio to 12,000 apartment units by 2015."
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