CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Citadines Apart’hotel in South Korea. The 468-unit Citadines Haeundae Busan will be Ascott’s first serviced residence in Busan and its largest property globally when it opens in the second half of 2015.

Since Ascott fully acquired the Citadines chain of apart’hotels in Europe in 2004 and brought it to Asia in 2006, it has been expanding the brand aggressively to key cities. With the addition of Citadines Haeundae Busan, Ascott has grown its Citadines network to 79 properties across 49 cities worldwide.

Citadines Haeundae Busan is situated in the prime Haeundae area, close to BEXCO – one of South Korea’s largest exhibition and convention centres. The serviced residence offers residents vibrant living as it is near Shinsegae Centum City – one of the largest department stores in the world, and tourist attractions such as Haeundae Beach and Busan Aquarium. A transportation hub consisting of a metro station, railway station and bus terminal is located next to the serviced residence, enabling guests to reach any part of the city effortlessly. For travel outside of the city, the KTX train station and Busan Gimhae International Airport are within a 20-minute and 40-minute drive respectively.

Citadines Haeundae Busan will be part of an integrated development that also houses retail shops and a cinema. With stylish studios and one-bedroom apartments as well as facilities including gymnasium, rooftop garden, laundry room and breakfast lounge, residents can enjoy a comfortable home away from home whether they are staying for weeks or years.