Ascott opens latest property in northern China

CapitaLand’s wholly-owned service residence business unit, Ascott, has opened its newest property in northern China.

The property – called Somerset YouYi, Tianjin – is located in the heart of the downtown Hexi commercial district.

The serviced apartment in Tianjin is the fifth property that Ascott has opened this year.

Another eight will follow for the rest of this year, including three in China.

Ascott said the opening of the latest property strengthens its leadership position as the largest international serviced residence operator in China.

Earlier this month, Ascott also secured a contract to manage a serviced residence property in Shanghai.

Source : Channel NewsAsia – 27 May 2009

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