CapitaLand’s serviced residence unit, Ascott, has clinched a contract to manage its third service residence in Xi’an, China.
No financial details of the contract were given.
The Citadines Xi’an Xingqing Palace is slated to open in 2011.
The property will offer 160 studio apartments, each with a fully-equipped kitchen, an en-suite bathroom and a separate work area.
Ascott’s two other serviced residences in Xi’an are Citadines Xi’an Central, which is currently operational, and Citadines Xi’an Gaoxin, due to open in 2010.
With this latest contract, Ascott now has 26 properties in China, spread across 12 cities.
Source : Channel NewsAsia – 11 Dec 2009