Ascott Bonifacio Global City
Ascott Limited has signed contracts to manage two new serviced residences apartments in the Philippines. It will construct the 220-unit Ascott Bonifacio Global City Manila as its second Ascott-branded property in the Philippines, after the one in Makati. It will also manage the 215-unit Citadines Salcedo Makati as the first Citadines apartment-hotel in the country. Both properties are expected to open in 2014.
“The Philippine economy has been stabilising and we expect continued growth particularly in its business process outsourcing sector. This, together with the anticipated increase in the country’s tourist arrivals, will provide steady demand for international-class accommodation including serviced residences,” said Mr. Arthur Gindap, Ascott country general manager for the Philippines.