Serviced residence owner-operator The Ascott Limited has capped its 30th anniversary in 2014 with continued strong growth.
In a statement, Ascott said it added 25 properties to the global network and opened 14 properties with over 2,000 apartment units to date this year.
The Singapore-based company owned by CapitaLand acquired a prime property in Jakarta for $90 million and expanded its presence in Vietnam. It is also gearing up for next week’s opening of its first serviced residence in Laos – Somerset Vientiane.
Opened in October, the 185-unit Ascott Kuningan Jakarta is located within Ciputra World 1 Jakarta, a large integrated development comprising an upscale shopping mall, art museum and DBS Bank Tower.
Ascott also signed a contract to manage the 222-unit Ascott Waterfront Saigon. The river-fronting property in downtown Ho Chi Minh City opens in 2016 and will be Ascott’s 13th property in the country.
Meanwhile, Somerset Vientiane is located just five minutes’ drive from the Chanthabouli Business District and Wattay International Airport. With 116 units, the development is set within the new business and residential Sikhottabong district.
In addition, Ascott announced that it scooped up a total of 84 awards in 2014, cementing its position as a global leader in the serviced residence industry.
Image: Ascott Kuningan Jakarta. (Photo by The Ascott Limited)
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
