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Ascott forms alliance to deepen China presence

Angela Tan

Published Mon, Feb 22, 2016 · 09:50 PM

Singapore

CAPITALAND'S serviced residence business unit, The Ascott, has formed a strategic alliance with Dongfu Investment Development Corporation as it deepens its presence in China.

The partnership will allow Ascott to have the first right to manage apartments currently under development and future projects to be built by Dongfu Investment - the real estate subsidiary of China State Construction Engineering Company (CSCEC), China's largest state-owned construction and infrastructure builder. CSCEC is ranked 37 among Fortune's…

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