Ascott Debuts 2016 In Southeast Asia With Seven New Contracts And An Opening To Strengthen Its Leadership Position As The Region’s Largest International Serviced Residence Operator
CapitaLand's wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has strengthened its leadership position as the largest serviced residence operator in Southeast 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. It also celebrated the opening of Somerset Medini Nusajaya, Ascott's second serviced residence in Iskandar Malaysia.