Released on: August 25, 2008, 2:02 am

Press Release Author: The Ascott Group Limited

Industry:

Press Release Summary: Ascott transforms 1950s heritage building into premium
serviced residence with modern comforts

Press Release Body: The Ascott Group (Ascott) has transformed a national heritage
building and Southeast Asia's tallest tower in the 1950s into a premium serviced
residence in Singapore. The former Asia Insurance Building (AIB) is now the Ascott
Singapore Raffles Place after a S$60-million conservation and restoration effort.
Today, the architectural icon stands as a private sanctuary in a class of its own.
It provides global travellers the comforts of a home right at the heart of the
Marina Bay waterfront business and lifestyle hub.
AIB was the first modern highrise office building designed and constructed 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. In
April 2007, the 52 year-old landmark was gazetted as a conservation building by the
Urban Redevelopment Authority. The building represents a legacy of the country's
history through Ascott's careful conservation and restoration.
AIB was designed in 1955 by Dr Ng Keng Siang, the first Singapore member of the
Royal Institute of British Architects. Dr Ng was a prominent British-trained local
architect who demonstrated a quantum leap in the architectural field by successfully
marrying the tenets of the modern movement with local influences.
The Right Honourable Malcolm Macdonald, P.C., then Commissioner General for the
United Kingdom in Southeast Asia (1948 to 1955) said: "The building was a most
distinguished landmark, seen from miles in every direction. in one of the world's
greatest commercial centres." This statement was made on 19 June 1953 as he put the
finishing touches to a plaque that is still displayed at the building's exterior
more than half a century later.
Mr Shriniwas Rai, lawyer and former nominated Member of Parliament who worked in his
law office in Asia Insurance Building for 35 years, was 10 when he first saw the
building. He was arriving in Singapore with his family from India by ship. Mr Rai
said: "Asia Insurance Building was an attraction as many parents brought their
children there for a view of the tallest building in Southeast Asia. It was 'the'
premium office building at the time; space in the tower was S$1 per square feet,
five times more than the 20 cents per square feet cost at other buildings. I have
fond memories of my time there; to me it is one of the few buildings which can be
truly considered Singapore's national architecture heritage. I am glad that the
building is being preserved and with added glamour as the new Ascott Raffles Place."

Mr Lim Chin Beng, Ascott's Chairman said: "Asia Insurance Building has a special
place in Singapore's history as Southeast Asia's tallest tower in the 1950s. Over
the last two years, we have given a lot of care to conserve this gem and bring it
back to its former glory. We looked into every detail to keep as much of its
heritage as possible. It is a landmark with a unique 50s Art Deco architecture that
is befitting of Ascott's flagship in Singapore."
Ms Jennie Chua, Ascott's President & CEO said: "By conserving this precious heritage
building and giving the architectural icon a new lease of life as Ascott Raffles
Place, we provide global travellers a unique and special experience. It offers a
timeless remembrance of Singapore's heritage with modern comforts of international
standards right at the heart of Singapore's business district and lifestyle hub. At
our hallmark property, residents will enjoy hospitality that is signature across
Ascott's properties in over 50 cities worldwide."
Unique Heritage
Residents will find an original James Cutler designed brass mail chute which has
been conserved for use at the serviced residence. James Cutler was an American
designer and architect who invented the mail chute in the 1880s where mail could be
dropped from a high point and collected at a central depository. His mail chute was
patented in 1883.
Ascott also retained more than 300 brass window frames and replaced over 1,000 glass
panels to insulate against the sun and the bustle of the city traffic. 20,000 pieces
of original premium Travertine marble cladding were hand secured.
In addition, Ascott conserved the five-footway, made of Nero Portaro Italian marble,
around the perimeter of the building, and two Nero Portaro pillars at the front of
the property, where two inlaid plaques were set in 1953 to commemorate the
coronation of the Queen of England and in 1955 for the official opening of AIB.
Modern Comforts
Ascott Raffles Place has soft opened with 50 units, and the remaining will be
progressively ready from now till the official opening this October. Ascott Raffles
Place will then offer travellers 146 exquisite apartment units and an impressive
range of facilities including 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.
Within easy access are a variety of restaurants, cafes, pubs, shopping outlets and
the upcoming Marina Bay Sands integrated resort. The Raffles Place Mass Rapid
Transit Station is just next to the property.
Ascott Raffles Place is one of The Ascott Group's seven serviced residences in
Singapore, including Citadines Mount Sophia, which will open in 2009.


Web Site: http://www.the-ascott.com/

Contact Details: 8 Shenton Way, #13-01, Singapore 068811