CapitaLand’s wholly-owned subsidiary, The Ascott, has clinched a contract from China Overseas Property to manage the first international brand of serviced residences in Macau.
The premier serviced residence, slated to open in 2014, is to be named Ascott Paragon Macau.
Ascott said the residence is not only its first entry into Macau, but it also strengthens the group’s leadership position as the largest international serviced residence owner-operator in China.
Ascott has about 6,600 apartment units in 36 properties across 16 cities in China.
Ascott Paragon Macau will be strategically located within Dynasty District in the heart of Macau, 10 minutes away from the airport and ferry terminal.
When completed, the residence is expected to offer about 100 apartments – from studios to one-bedroom units – to cater to the different lifestyle needs of leisure and business travellers.
Source : Channel NewsAsia – 18 Apr 2011