The 200-unit Citadines Regency Saigon is slated to open in the vibrant commercial hub of Ho Chi Minh City’s District 3 in 2018 while the 253-unit Citadines Waterfront Kota Kinabalu is scheduled to open within the heart of the city in 2018. The 81-unit Citadines Culture Village Dubai will open in 2017 within Culture Village, an area poised to become the artistic and cultural hub of Dubai.

 

“Citadines is one of our fastest growing brands. Since we fully acquired the Citadines Apart’hotel chain in 2004, we have more than doubled our Citadines portfolio from the initial 5,100 apartment units in 18 European cities to more than 12,000 units in 81 properties and 52 cities across Asia Pacific, Europe and the Gulf region,” says Lee Chee Koon, Ascott’s chief executive officer in a release.

 

Lee is seeing rich opportunities for Ascott’s international-class serviced residences amid steady growth in demand for quality accommodation in Vietnam, Sabah and Dubai.

He expects demand for serviced residences from expatriates and travellers to increase in Vietnam, where visitor arrivals grew to nearly 8 million last year. Ho Chi Minh City accounted for more than 50% of the arrivals, says Lee.

 

Demand for quality accommodation in Malaysia has been growing strongly as the country continues to attract foreign direct investments that jumped more than 8% to RM64.4 billion ($17.5 billion) in 2014 from a year earlier. Kota Kinabalu is an industrial and commercial centre of Sabah, Malaysia’s second largest state and the country’s largest producer of palm oil and cocoa.

 

The launch of Citadines brand in the UAE supports the growing demand from independent travellers who want the flexibility to choose the services they require as compared to luxury hotels that offer full services.

 

“The UAE and Saudi Arabia account for 70% of rooms in the region’s pipeline and we see great potential for further growth in this market,” says Lee.