Ascott Bolsters Management Team in The Gulf Region

The Ascott Limited, the world's largest international serviced residence owner-operator has appointed Mr Sym K. Lee as its Head of the Gulf Cooperation Council (GCC). In addition to Mr Sym K. Lee, Ascott has appointed a new Residence Manager, Mr Jabier Cid, for Ascott Park Place Dubai, its flagship property in the United Arab Emirates.


Mr Lee will be responsible for developing growth strategies and overseeing Ascott's business in the Middle East. Mr Lee is also concurrently the Senior Vice President for Asset Management and Business Development for Ascott in Europe.

Mr Lee said: "I look forward to working with the team in the Gulf region to enhance our presence in the region. There are several positive signs from the region's travel and hospitality industry and there is tremendous potential for Ascott to expand its presence here. We will continue to build on the excellent work Ascott has done in the region and actively search for more management opportunities and partnerships within the United Arab Emirates, Oman, Kuwait and Saudi Arabia."

"Since pioneering the concept of serviced residence in Asia Pacific more than 25 years ago, Singapore-based Ascott has established itself as the world's largest serviced residence owner-operator. We will be looking to leverage our service and operational expertise to create a home away from home for the many expatriates in the Gulf region."

A veteran in the hospitality industry, Mr Lee has amassed over 30 years of experience working with several prominent hospitality brands in Europe. He has been with Ascott since 2004 and prior to his current appointment, Mr Lee was the Managing Director and the Deputy Managing Director for Finance and Investments in Europe. Mr Lee is a graduate of ESSEC, one of Europe's top business schools. He is originally from South Korea and has been living and working in Europe for over 40 years.

The new Residence Manager for Ascott Park Place Dubai, Mr Jabier Cid, is a native from Spain who has over 10 years of experience in the hospitality industry, working in countries such as Spain, Peru, Cuba, Maldives and the United Arab Emirates. Mr Jabier Cid holds a Masters in Tourism from the Uniactiva and is a graduate of Escuela de Administración de Empresas.

"Our key focus remains on our guests. The team at Ascott Park Place Dubai has done well over the years to provide a home away from home for the many relocating expatriates in Dubai. I hope to be able to build upon that vision and position Ascott Park Place Dubai as the top serviced residence, not just along Sheikh Zayed Road, but in the whole of Dubai," said Mr Cid.


The Ascott Limited currently has a total of over 1,000 apartment units across six serviced
residence in the Gulf Region. Ascott operates four serviced residences in the region. In addition to Ascott Park Place Dubai, Ascott operates Ascott Doha and Somerset West Bay Doha in Qatar, and Somerset Al Fateh in Bahrain. Ascott is also expected to launch its first two properties in Oman, Somerset Panorama Muscat and Sohar Garden Residences, by 2014.

About The Ascott Limited

The Ascott Limited is a Singapore company that has grown to be the world's largest international serviced residence owner-operator. It has more than 22,000 operating serviced residence units in key cities of Asia Pacific, Europe and the Gulf region, as well as over 8,000 units which are under development, making a total of more than 31,000 units in over 200 properties.

The company operates three brands – Ascott, Citadines and Somerset.Its portfolio spans over 70 cities across more than 20 countries, 15 of which are new cities in Ascott's portfolio where its serviced residences are being developed.
Ascott, a wholly-owned subsidiary of CapitaLand Limited, pioneered Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984. In 2006, it established the world's first Pan-Asian serviced residence real estate investment trust, Ascott Residence Trust. Today, the company boasts a 29-year industry track record and award-winning serviced residence brands that enjoy recognition worldwide.

Ascott's achievements have been recognised internationally. Recent awards include DestinAsian Readers' Choice Awards 2013 for 'Best Serviced Apartment/Residence Operator', TTG China Travel Awards 2013 for 'Best Serviced Residence Operator in China',TTG Travel Awards 2012 for 'Best Serviced Residence Operator', Business Traveller Asia-Pacific Awards 2012 for 'Best Serviced Residence Brand' and 'Best Serviced Residence in Asia-Pacific', and Business Traveller UK Awards 2012 for 'Best Serviced Apartment Company'.

Visit www.the-ascott.com for more information and connect with us on social media at www.the-ascott.com/connect.

About CapitaLand Limited

CapitaLand is one of Asia's largest real estate companies. Headquartered and listed in Singapore, the company's businesses in real estate and real estate fund management are focused on its core markets of Singapore and China.

The company's diversified real estate portfolio primarily includes homes, offices, shopping malls, serviced residences and mixed developments. The company also has one of the largest real estate fund management businesses with assets located in Asia. CapitaLand leverages its significant asset base, real estate domain knowledge, product design and development capabilities, active capital management strategies and extensive market network to develop real estate products and services in its markets.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, Ascott Residence Trust, CapitaCommercial Trust, CapitaMall Trust, CapitaMalls Malaysia Trust, CapitaRetail China Trust and Quill Capita Trust.