Ascott to manage 8 new serviced residences in China
It expects to reach its target of 20,000 apartment units in the country by 2020
Singapore
CAPITALAND'S serviced residence arm The Ascott Limited (Ascott) has inked contracts to manage eight new serviced residences in China's high growth cities of Beijing, Chongqing, Haikou, Hangzhou, Shanghai and Xiamen through its Ascott, Citadines and Tujia Somerset brands.
Of these properties, Tujia Somerset Palm Springs Chongqing is already operational and the other seven - Ascott Central Haikou, Citadines Taoyuanju Chongqing, Citadines Xixi Wetland Hangzhou and four more Tujia Somerset properties - are slated to open from next year to 2020.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Australian budget to target housing woes with more construction workers
UK construction growth hits 14-month high in April, PMI survey shows
KKR buys 14 hotels in Japan, converts them to midscale Sheraton properties
Abu Dhabi developer Aldar picks banks for 10-year green sukuk
UK house prices stagnate in April as higher mortgage costs bite
When buying a home is treated as a national security threat