Austria: Ascott has signed a management contract with SIGNA Real Estate and ARE Austrian Real Estate for its first property in Austria.
Citadines Danube City Vienna will feature 223 units ranging from studios to two-bedrooms, and will open in 2022 in the new Vienna Twentytwo mixed-use project. It will also feature a bar and a gym.
Vienna Twentytwo is being developed by a joint venture between SIGNA and ARE and is intended to become a new landmark in the 22nd district with contemporary architecture, first-class transport links and covered promenades.
It covers an area of 15,000 square metres with 70,000 square metres of total usable space in six buildings. The aim is to create a district with attractive work, living and leisure opportunities including the necessary infrastructure such as restaurants and a supermarket.
“Vienna is an important business travel destination, but also one of the most popular European holiday destinations. We are very excited to be working with SIGNA and ARE, who recognise the value and resilience of our serviced residence business,” said Ngor Houai Lee, managing director Europe at The Ascott Limited.
The new signing brings Ascott’s presence in Europe to more than 6,500 units in 54 properties.
