Ascott continues strong growth in China with three more properties in Hefei, Chongqing and Xiamen
Enters Hefei and expands global footprint to 81 cities
Singapore, 15 August 2013 – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured contracts to manage three more properties, adding 567 apartment units in China, including its first serviced residence in Hefei. The 250-unit Somerset Swan Lake Hefei is slated to open in 2017 while the 150-unit Ascott Nanbin Chongqing and 167-unit Somerset Software Park Xiamen are both slated to open in 2015.
The three new properties will further strengthen Ascott’s leadership position as the largest international serviced residence owner-operator in China with more than 9,000 apartment units in 51 properties across 20 cities.