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Ascott bags five new management contracts in China

This brings its China portfolio to 12,000 apartment units; next target is 20,000 units by 2020

Nisha Ramchandani

Published Mon, Nov 10, 2014 · 09:50 PM

Singapore

CAPITALAND'S serviced residence business The Ascott has landed contracts to manage five additional properties in China, boosting its portfolio to 12,000 apartment units in the populous country.

In a statement to the Singapore Exchange on Monday, CapitaLand announced that The Ascott would manage 1,000 more apartment units in Yinchuan, Changsha, Shenyang and Xi'an.