Ascott expands into thriving city of Nanjing China
Singapore, 8 April 2013 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first serviced residence in Nanjing. The contract was awarded by Nanjing Lek Yuen Property Development Company Limited, a major property developer in Nanjing. Citadines Baijia Lake Nanjing, which will have approximately 290 apartment units, is slated to open in the second half of 2014.
The latest addition has reinforced Ascott’s leadership position as the largest international serviced residence owner-operator in China with more than 8,300 apartment units in 46 properties across 18 cities.