Ascott is expanding its presence in China with the opening of its third property in Shenzhen.

Located in Nanshan District, the city’s technology and industrial hub, Ascott Raffles City Shenzhen is part of CapitaLand’s flagship Raffles City integrated development.

The location also comprises a 70,000-sqm mall with more than 200 shops, and a 23-storey office tower, and is designed by world-renowned architecture firm Benoy.

Tan Tze Shang, Ascott managing director for China, said: “Shenzhen is one of the world’s top innovation hubs and home to high-tech companies from all over the world, including new-tech giants such as Huawei, ZTE and Tencent.

“With the addition of Ascott Raffles City Shenzhen, Ascott now has more than 900 units across five serviced residences in one of China’s most competitive cities with high demand for accommodation.

“Out of the five properties, three are in operation while two more will open next year.

“Given its strategic location connecting prominent financial centres, proximity to transportation networks and being part of an integrated development under the iconic Raffles City brand, Ascott Raffles City Shenzhen offers business executives and leisure travellers the convenience of a one-stop work, retail and recreational destination.”

In China, three other properties which are part of the Raffles City-branded integrated developments include Ascott Raffles City Beijing and Ascott Raffles City Chengdu, both of which are already operational, as well as Ascott Raffles City Hangzhou which is slated to open in the third quarter of 2018.

China attracted an investment of US$118 billion last year, and remains the world’s third most attractive destination for foreign direct investment.

In 2016, more than four billion Chinese travelled within the country and 135 million travelled overseas.

As one of China’s top gross domestic product-contributing cities, Shenzhen also invests more than four per cent of its GDP annually in research and development, attracting start-ups and enterprises from innovation-driven industries.

Ascott Raffles City Shenzhen offers guests 182 elegantly furnished apartments ranging from studios to three-bedroom apartments, which come with a well-equipped kitchen, high-quality audio-visual equipment and high-speed wireless internet.

Facilities include an indoor heated swimming pool, breakfast lounge, gymnasium, aerobics room, reading room, sauna room, steam room, children’s play area, and business centre.

Well-equipped meeting rooms provide a conducive environment for seminars and training workshops. Guests can enjoy housekeeping, laundry, dry cleaning and babysitting services.