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Ascott sets its sights on South America

Published Tue, Apr 4, 2017 · 09:50 PM

Singapore

THE Ascott Limited, CapitaLand's wholly owned serviced residence business unit, is looking to expand in South America with franchise agreements for its first two serviced residences in Sao Paulo, Brazil.

Brazil real estate company Vitacon will franchise and operate the 92-unit Citadines VN Jardins Sao Paulo and 122-unit Citadines VN Faria Lima Sao Paulo. The two serviced residences are scheduled to open in the last quarter of this year and 2020 respectively.

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