Ascott increases presence in India

The Ascott, CapitaLand’s wholly-owned serviced residence business unit, has increased its presence in India with the soft opening of its first Somerset brand of serviced residence.

The 187-unit Somerset Greenways Chennai follows the recent opening of the 96-unit Citadines Richmond Bangalore.

Ascott has five other serviced residences in India which are under development in Ahmedabad, Bangalore, Chennai and Hyderabad.

In total, Ascott’s seven properties in India will have over 1,400 apartment units.

Ascott targets to have 4,000 apartment units in India by 2015.

Source : Channel NewsAsia – 14 Sep 2011

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