SINGAPORE (Yosefardi) – CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has opened its first serviced residences in Hangzhou, China and Hamburg, Germany.
In addition, the company has opened its second premier Ascott-branded serviced residence in Jakarta, Indonesia and secured a management contract for its second Ascott-branded serviced residence in Dubai which is slated to open in 2017.
The 185- unit Ascott Kuningan Jakarta is the company’s eighth property to open in Indonesia, reinforcing Ascott’s position as the largest international serviced residence owner-operator in China and Indonesia respectively.