CapitaLand's wholly owned serviced residence business unit, Ascott has opened its second Citadines serviced residence in Germany.

Citadines Munich Arnulfpark marks Ascott's entry into the Bavarian capital of Munich and complements Ascott's other property in Germany, namely Citadines Berlin Olivaer Platz.

Located in West Munich, Citadines Munich Arnulfpark is part of the Arnulfpark business and residential district where numerous corporate headquarters are located.

The serviced residence is centrally located in the heart of the city, a 10-minute walk from the Central Railway Station. Main tourist attractions such as Marienplatz and the Frauenkirche Cathedral are also nearby.

Mr Lim Ming Yan, Chief Executive Officer of The Ascott Group Limited, said: "We are excited about the opening of Citadines Munich Arnulfpark, Ascott's second serviced residence property in Germany. Munich, the third largest city in the country, is located in one of Germany's leading economic areas and is a major international trade fair and holiday destination. Demand for quality extended-stay accommodation is strong among travellers who visit for business, corporate meetings and trade fairs. Germany, as the largest economy in Europe with strong economic fundamentals and conducive
investment environment, is an attractive market to Ascott. We will continue to seek new opportunities to expand our presence both within Germany and in the rest of Europe."

Citadines Munich Arnulfpark offers 146 units, ranging from studio to twobedroom apartments. All apartments come complete with modern fittings and are designed to accommodate living and working from home.

They provide a fully-equipped kitchen, an ensuite bathroom, a home entertainment system and free broadband internet access.

A meeting room and a fitness corner are also available at the property.