Ascott Limited, a wholly owned subsidiary of CapitaLand Investment based in Singapore, signed an agreement with Optics Valley International Community of the Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC) on Jan 6.

This partnership will construct nearly 500 apartments and hotel units, introducing a mature international accommodation system. The goal is to attract more international high-end talent to Wuhan and OVC.

Rendering of Optics Valley International Community's serviced apartments. [Photo/WeChat account of Optics Valley of China]

The Optics Valley International Community is a zero-carbon, smart, and international exchange community. It features a one-stop international talent service center and aims to become a landmark international community in Wuhan and Central China and a global exchange hub for OVC.

Construction of the project began in the first half of 2023 and is expected to be finished by October this year. It will include high-end residences, international schools and kindergartens, an international medical center, a sports center, a cultural center, and commercial facilities.

Rendering of Ascott's serviced apartments. [Photo/WeChat account of Optics Valley of China]

Ascott is a globally renowned operator of serviced apartments and hotels in over 40 countries and regions. Since entering the Chinese market in 1998, Ascott has managed over 200 properties in 42 cities nationwide.

The newly signed project offers various unit types and includes restaurants, gyms, cafes, swimming pools, and multifunctional meeting rooms. These facilities aim to provide a diverse, high-quality, and convenient living space for talent.

Data shows that OVC now leads Wuhan in the number of three-star and above hotels and first-store openings. Several youth talent apartment projects have also been developed, providing strong support for high-end talent in business exchanges and living accommodations.