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CapitaLand's Ascott buys Jakarta serviced residence for S$90m

It is also taking its Ascott brand to Vietnam and opening its first property in Laos

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What's afoot: the 116-unit serviced residence formerly known as Parkview Executive Suites has undergone refurbishment and will be rebranded as Somerset Vientiane. Ascott will manage it for the first two years.

Singapore

CAPITALAND'S The Ascott is buying a newly-opened serviced residence in Jakarta for S$90 million, taking its Ascott brand to Vietnam and opening its first property in Laos.

Ascott has signed a conditional agreement with a subsidiary of its long-time Indonesian partner,

sentifi.com

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