CapitaLand's wholly-owned subsidiary, The Ascott, has secured a contract to manage a 229-unit premier serviced residence in Doha. Ascott Doha will be the company's second property in the capital city of Qatar and is scheduled to open in the second half of 2011. Ascott Doha is located in the centre of Doha's diplomatic district and offers stunning views of the Arabian Gulf. Units offered in the residence...
Ascott
CapitaLand's wholly-owned subsidiary, The Ascott has extended its footprint to Frankfurt, Germany's financial and transportation hub. It will invest S$50 million to acquire a turnkey serviced residence property in the city, which is slated to open in 2014. This follows the company's expansion into Germany's second largest city, Hamburg, in January when it signed a sale and purchase agreement for...
The Ascott, CapitaLand's wholly-owned serviced residence business unit, has entered into a joint venture with RMZ Corp, one of India's leading real estate developers, to develop a 203-unit serviced residence in Bangalore. Ascott will acquire a 50 per cent stake in the joint venture company for 151.75 million rupees (about S$4.36 million), while RMZ Corp will hold the remaining stake. The new Citadines...
The Ascott, one of the world's largest serviced-residence companies, plans to invest in at least 12 properties for this year, covering cities like Shenzhen, Chennai and Doha. The company, which is a unit of Singapore's CapitaLand, said it has US$800 million (S$1 billion) available to expand its business this year. Other than Asia and the Middle East, The Ascott is also looking at furthering its presence...
The iconic black and white colonial bungalows near the city remain one of the most sought after housing types in Singapore. Over 90 per cent of the 33 black and white bungalows on Mount Pleasant have been leased out by their master tenant The Ascott, which operates serviced residences around the world. The Ascott has been running the black and white bungalows as serviced residences since 1999. It is...
Top CEOs and foreign expatriates with deep pockets can expect to fork out about 15 per cent more in monthly rent to live in a black and white bungalow at Mount Pleasant. This according to analysts contacted by Channel News Asia after the master tenancy for the 33 colonial bungalows was awarded to The Ascott, CapitaLand's wholly-owned serviced-residence unit. This is despite Ascott submitting only the...
CapitaLand's subsidiary, The Ascott Limited, said it has been awarded the master tenancy of 33 Black and White residential bungalows at Mount Pleasant. The Ascott had submitted to the Singapore Land Authority the third highest bid of S$435,000 per month. It beat LHN Group's bid of S$510,009 per month and Atbara Holdings' bid of S$450,000. The colonial bungalows are offered for an initial tenancy period...
The Ascott has opened three new properties in China, targeting to operate 12,000 apartment units there by 2015. The 605 new units in three cities of Tianjin, Wuhan and Xi'an will bring to more than 6,300 the number of apartments Ascott has in 34 properties across 15 cities in China. Ascott said the expansion strategy is underlined by China's rapid development and high foreign investment, which are making...
CapitaLand's wholly-owned serviced residence business unit The Ascott is launching its first Ascott-branded property in Dubai. Ascott said it was bringing its brand to the United Arab Emirates through a management contract for the 118-unit Ascott Park Place Dubai. The asset is located in the prime commercial area of the city on Sheikh Zayed Road. Ascott will operate the property from October 1 this year...
Ascott Reit acquisitions make it 6th-largest property trust in S'pore Ascott Residence Trust (Ascott Reit) is acquiring 28 properties from its sponsor and 48-per-cent shareholder, The Ascott, for $969.6 million to become the sixth-largest property trust in Singapore in terms of assets. In turn, The Ascott will buy a serviced apartment building, Ascott Beijing, from Ascott Reit for $214 million, to...