Ascott Group News
Ascott powers China growth with Dongfu Investment deal
Ascott has continued its aggressive expansion by forging a strategic alliance with Dongfu Investment Development Corporation – a real estate subsidiary of China State Construction Engineering Company, China’s largest state-owned construction and infrastructure builder. Through this partnership, Ascott will have the first right to manage apartments currently under development as well as future projects to be built by Dongfu Investment.
Ascott strengthens south-east Asia serviced apartments leadership position
Ascott has strengthened its leadership position as the largest serviced residence operator in south-east Asia with the clinching of seven new management contracts, adding over 1,500 apartment units to its portfolio. Ascott has expanded in Bangkok in Thailand, Hanoi in Vietnam, and Petaling Jaya in Malaysia while venturing into Bandung in Indonesia, Penang and Shah Alam in Malaysia, and Nha Trang in Vietnam as demand for serviced residences heats up.
Ascott signs for seven new properties in south-east Asia
Ascott has strengthened its leadership position as the largest serviced residence operator in south-east Asia with the clinching of seven new management contracts, adding over 1,500 apartment units to its portfolio. It has expanded in Bangkok in Thailand, Hanoi in Vietnam, and Petaling Jaya in Malaysia while venturing into Bandung in Indonesia, Penang and Shah Alam in Malaysia, and Nha Trang in Vietnam as demand for serviced residences heats up.
Ascott invests $140m in two new long-stay properties
The Ascott serviced residence global fund, recently launched with the Qatar Investment Authority, has acquired two prime properties in Paris and Tokyo for US$104 million. The fund will invest another US$33 million to convert the office building in Paris into a luxury serviced residence and embark on asset enhancement to reposition the serviced residence in Tokyo, bringing the total investment to US$137 million.
The Ascott adds four properties to burgeoning Asian portfolio
The Ascott has secured four new contracts to manage over 850 units in four growing Asian markets. Having recently achieved its global target of 40,000 serviced residence units ahead of schedule, Ascott is widening its lead as the world’s largest international serviced residence owner and operator with over 42,000 units in 94 cities across 26 countries.
Ascott makes £55m investment in Tujia.com
The Ascott, the world’s largest international serviced residence owner-operator, has invested over £55 million in Tujia.com – China’s answer to apartment-sharing website Airbnb. The joint venture, which will see Ascott operate and franchise serviced apartments with the site, will allow Ascott to expand its portfolio and meet its target of 20,000 units in China by 2020. As part of the joint venture with Tujia, Ascott will operate serviced apartments located within the key growth cities of China using a new brand.
Ascott enters $600m fund with Qatar Investment Authority
The Ascott has entered into a 50:50 joint venture with Qatar Investment Authority to set up a US$600 million serviced residence fund with an initial focus on the Asia Pacific and Europe regions. This is Ascott’s largest private equity fund to date. With a target to launch six new funds with total assets under management of up to S$10 billion by 2020, this joint venture is part of CapitaLand’s efforts to further grow its fund management business and pursue market opportunities with a stable of blue chip capital partners.
Ascott unveils ambitious European expansion plans
The Ascott has welcomed the visit by Singapore’s president Tony Tan to its newly opened Citadines Suites Arc de Triomphe Paris, as part of its celebrations to mark the 50th anniversary of trade relations between Singapore and France. Ascott also announced today its target of 10,000 apartment units in Europe by 2020.
Citadines Apart’hotels continues global expansion with new signings
The Ascott has secured contracts to manage its first Citadines Apart’hotels in Vietnam, Sabah, Malaysia and the United Arab Emirates. The 200-unit Citadines Regency Saigon is slated to open in the vibrant commercial hub of Ho Chi Minh City’s District 3 in 2018 while the 253-unit Citadines Waterfront Kota Kinabalu is scheduled to open within the heart of the city in 2018.
The Ascott signs Citadines Medini Nusajaya in Malaysia
The Ascott has stepped up its presence in Iskandar Malaysia by securing a contract to manage its third property in Nusajaya. Slated to open in early 2019, the 214-unit Citadines Medini Nusajaya has a prime location in Nusajaya’s main business and leisure district. Ascott, the world’s largest international serviced residence owner-operator, has been awarded the contract by UMCity Medini Lakeside Development, a wholly-owned subsidiary of United Malayan Land.
Anthony Khoo, SVP of Brand & Marketing, The Ascott Limited
Mr Anthony Khoo, SVP of Brand & Marketing, The Ascott Limited talks to Breaking Travel News at ITB 2015.
The Ascott unveils four new properties across Asia as influence grows
The Ascott has continued to expand its influence across Asia, adding four new serviced apartments to its portfolio in January including properties in Malaysia, Thailand, Vietnam and Turkey. These properties are located in four key growing cities and are perfect for those travelling for both business and leisure. These additional properties continue Ascott’s rapid global expansion, putting them on track for their target of 40,000 units by the end of 2015.