Service Apartments

CapitaLand's wholly-owned lodging business unit, The Ascott Limited, has launched a "work in residence" initiative at participating properties worldwide, to transform selected apartments into work suites. To extend its service offerings to guests, Ascott is also providing its space-as-a-service by exploring with multinational corporations, entrepreneurs and small-medium enterprises different...

Capitaland's wholly-owned lodging business unit, The Ascott, has opened a serviced residence in Osaka, Japan. The new property, Citadines Namba Osaka, offers 313 units with varied apartment types. It sits in Osaka's popular entertainment and shipping district, and is surrounded by commercial buildings, Ascott said in a media statement on Monday. It houses studio apartment, studio executive apartments...

Property developer OUE has inked agreements to sell Oakwood Premier OUE Singapore, its luxury serviced residences and hotel business in Shenton Way, for S$289 million. The buyers are joint venture firms formed by Hong Kong financial services firm AMTD Group and hotel operator Dorsett Hospitality International. Dorsett is wholly owned by Hong Kong-listed property giant Far East Consortium International...

Capitaland business unit The Ascott has opened lyf Funan Singapore – its first co-living property spanning around 121,000 square feet (sq ft) in gross floor area. The nine-storey lyf Funan property comprises 412 rooms across 279 apartments. Five apartment types ranging from 18 to 105 square metres are available, with room rates from S$150, excluding taxes, to cater to both short and long...

CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), is cementing its position as the largest serviced residence operator in Singapore with a record number of openings this year as well as the signing of its first Citadines Connect business hotel in Singapore. Citadines Connect City Centre Singapore, secured under a franchise agreement, will increase Ascott’s total portfolio in...

Serviced residence Ascott Raffles Place Singapore, which is housed within a restored 1950s heritage building, is set to be sold off for S$353.3 million by Ascott Residence Trust (Ascott Reit). The sale price is 64.3 per cent above the property’s latest valuation of S$215 million as at Dec 31, 2018, Ascott Reit said in a stock exchange filing on Wednesday (Jan 9). It said that the buyer is an...

Tekka Place, a redevelopment of the former The Verge shopping mall in Little India, is set to open in late 2019. The integrated mall is developed by Singapore-listed construction and property development company, Lum Chang Holdings, and a fund managed by LaSalle Investment Management Asia. The new development will comprise a 10-storey main block and a seven-storey annex block with rooftop deck....

Serviced residence operator Ascott has unveiled its newest accommodation concept, Lyf, which is "designed for and managed by millennials who wish to experience destinations as locals do", it announced on Thursday (Nov 24). In a press release, Ascott said the properties will be designed to facilitate interaction between guests, with communal spaces and co-working areas that can be easily transformed...

The Verge, a struggling mall in Little India, is being sold for S$317 million to a company controlled by Keith Tang, grandson of CK Tang founder Tang Choon Keng and who owns a chain of hotels and serviced apartments in Australia and New Zealand. Mr Tang is expected to assemble a consortium for the purchase and redevelopment of The Verge, which is on a site with about 80 years' balance lease. He plans to...

Ascott Residence Trust, also known as Ascott Reit, announced on Monday (July 7) that it has entered into conditional agreements to acquire its first serviced residence in Kuala Lumpur, Malaysia, as well as properties in Wuhan and Xi’an in China at a total property value of S$173.9 million. Ascott Reit will acquire the 207-unit Somerset Ampang Kuala Lumpur from The Ascott Ltd for RM175 million (S$67.4...