Ascott's first flagship property in the Philippines

SINGAPORE – The Ascott Group has secured a contract from Ascott Residence Trust (ART) to manage a serviced residence located in the heart of Makati City’s central business district in Manila. The serviced residence, formerly known as Oakwood Premier Ayala Center, was acquired by ART in November 2006. It was branded as Ascott Makati on 22 March 2007 and is the Group’s first flagship serviced residence under its premier Ascott brand in the Philippines. The Group will manage the property for 10 years, with the option to renew the contract for another 10 years. Mr Cameron Ong, The Ascott Group’s managing director and CEO said, “With improving foreign direct investment into the Philippines and more business travellers to the country, we are confident that Ascott will be able to capture a larger market share.” Located at Glorietta 4 Ayala Center, Ascott Makati is a 21-storey building with two towers of serviced residences. It has 306 units comprising of studio and one-bedroom to three-bedroom apartments and comprehensive facilities such as a fitness centre, gymnasium, swimming pool, business centre, meeting rooms, tennis courts and a restaurant.

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