Ascott Raffles Place makes 50 units available first

August 7, 2008
Ascott Raffles Place makes 50 units available first

THE plush Ascott Raffles Place, the former Asia Insurance Building
(AIB), had a soft opening yesterday, with its owner, the Ascott
Group, making 50 units available.

The remaining units of the 146-unit premium serviced residence
project will be ready by its official launch set for October.

An Ascott press statement yesterday said the property, a national
heritage building and South-east Asia's tallest tower in the 1950s,
was restored at a cost of $60 million.

It will be equipped with meeting rooms, WiFi connectivity, an
infinity pool, jacuzzis, a fully equipped gymnasium, a fitness
studio, a lounge bar and a fine-dining restaurant by award-winning
Julien Bompard.

Ascott Raffles Place, situated within walking distance of the Raffles
Place Mass Rapid Transit (MRT) station, is also close to a wide range
of restaurants, cafes, pubs, shopping outlets and the upcoming Marina
Bay Sands integrated resort.

The property is the latest addition to The Ascott Group's seven
serviced residences in Singapore, including Citadines Mount Sophia,
which will open in 2009.

AIB was the first modern highrise office building erected in
Singapore after World War II. It symbolised Singapore's development
as an important financial hub, and is one of the few remaining
highrise buildings from the 1950s.

The property was designed by Dr Ng Keng Siang, the first Singaporean
member of the Royal Institute of British Architects. The 52-year-old
landmark was gazetted as a conservation building by the Urban
Redevelopment Authority in April 2007.