CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has clinched a contract to manage Citadines Xi’an Xingqing Palace, its third serviced residence in Xi’an, China.

Ascott’s two other serviced residences in Xi’an are Citadines Xi’an Central, which is currently operational and Citadines Xi’an Gaoxin, due to open in 2010.

Ascott secured the contract for Citadines Xi’an Xingqing Palace from Shaanxi Defang Changan Co. (DFCA), marking the second time Ascott is working with the local partner to manage its serviced residences. The other serviced residence that Ascott manages for DFCA, Citadines Xi’an Central, has been garnering a healthy occupancy of over 80% since it opened in 2007.

Citadines Xi’an Xingqing Palace sits in the heart of Xi’an in the Beilin district near Xingqing Palace Park, a popular tourist attraction built on the ruins of the palace dating back to the Tang dynasty. Located just 100m away from renowned Xi’an Jiaotong University, Citadines Xi’an Xingqing Palace is poised to attract visiting academics, exchange students and participants who take part in the 200 academic meetings and forums the university organises annually.

Citadines Xi’an Xingqing Palace will offer 160 studio apartments, each with a fully-equipped kitchen, an en-suite bathroom and a separate work area. Residents can also enjoy amenities like a swimming pool and a gymnasium. The property is slated to open in 2011.

With Citadines Xi’an Xingqing Palace, Ascott’s portfolio in China increases to 5,000 units across 26 properties in 12 cities. These are spread across Beijing, Chongqing, Dalian, Guangzhou, Shanghai, Shenyang, Shenzhen, Suzhou, Tianjin, Wuhan, Xi’an and Hong Kong.