CapitaLand’s wholly owned serviced residence unit, The Ascott, said it is making a foray into the Eastern European market.
It’s opening a property called Citadines Tbilisi Freedom Square in Tbilisi, Georgia.
Ascott said the property is the first international serviced residence to operate in Georgia.
It added that the property consolidates and strengthens Ascott’s presence in Europe, where it already operates over 5,000 serviced apartment units in 47 properties.
The Citadines name is a brand of European serviced apartments that Ascott acquired in 2004.
Source : Channel NewsAsia – 17 Dec 2009