Developer CDC Holdings appoints Ascott for second Philippines project

George Sell George Sell Uploaded 29 December 2016


Philippines: Ascott will operate a 290-unit serviced apartment development by CDC Holdings in Pasig City.

The project, called CDC Millennium Ortigas, will feature 290 serviced apartments under the Citadines brand, as well as 96 residential units and 11 commercial spaces for lease across 32 floors.

The property, in the Ortigas business district of Pasig City, will be finished by the end of January. Final testing and commissioning of the serviced apartments, including around 120 units on the 19th to 24th floors under a sale-and-leaseback arrangement, will take place in the middle of January, according to CDC Holdings president and chief executive officer Melesa D. Chua.

Chua said the project has separate access points, pools and other amenities for the private residences and serviced apartments: "We have everything in two, like two separate entrances, two lobbies, two swimming pools, two lounges to keep the privacy. But the good thing for living in this building is you can access the services of Ascott at your fingers."

CDC Millennium is the second project by CDC Holdings in partnership with The Ascott. The companies have worked together on the Somerset Millennium Makati in Legaspi Village since 2000.

Ascott regional general manager Arthur Gindap said the company intends to operate 25 more properties in the Philippines by 2020, as well as introducing new brands Crest Collection and Lyf.


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