Ascott to open 57 more properties

CAPITALAND'S wholly-owned serviced residence business unit, The Ascott Limited, is scheduled to open 57 properties in Asia, Europe and the Gulf region over the next few years.

It will open properties in the key gateway cities of China, Germany, India, Indonesia, Malaysia, Oman, Saudi Arabia, Singapore, the Philippines, Thailand and Vietnam.

This year, Ascott added 22 properties with more than 3,700 apartment units to its portfolio. It also entered cities such as Hefei, Nanjing and Wuxi in China, Gurgaon in India, Riyadh and Jeddah in Saudi Arabia and Sri Racha in Thailand.