CapitaLand Investment’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is investing in two properties in Ningbo, China and Amsterdam, the Netherlands for approximately S$190 million through Ascott Serviced Residence Global Fund (ASRGF)1, Ascott’s private equity fund with Qatar Investment Authority. When fully deployed, the acquisitions will boost Ascott’s total funds under management (FUM)2to S$9 billion.
The Ascott Limited launched its first Citadines Apart’hotel in Phnom Penh on March 15. Citadines Flatiron Phnom Penh sits right in the middle of Phnom Penh City Centre, within Flatiron by Meridian, a 41-storey mixed-use integrated development, with Grade A office towers and retail components.
The Ascott Limited (Ascott) is a Singapore company that has grown to be one of the leading international lodging owner-operators. Ascott s portfolio spans more than 190 cities across over 30 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa and the USA.
Ascott has more than 70,000 operating units and about 51,000 units under development, making a total of more than 121,000 units in over 770 properties.
Ascott, a wholly owned subsidiary of CapitaLand Limited, pioneered Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984. Today, the company boasts over 30 years of industry track record and award-winning brands that enjoy recognition worldwide.
CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) has established a development venture totalling US$150 million (S$204.8 million[1]) in committed equity to develop student accommodation assets in the USA. Named Student Accommodation Development Venture (SAVE), Ascott will manage the venture and hold a 20% stake in the joint venture while the remaining stake will be held by Riyad Capital. Riyad Capital is one of the largest institutional capital partners in the Middle East and an existing partner from Ascott’s network of lodging property owners. When fully deployed, the venture will boost Ascott’s funds under management (FUM)[2] by US$375 million (S$512 million).
ASCOTT VOTED LEADING SERVICED APARTMENT BRAND FOR ASIA, MIDDLE EAST AND OCEANIA AT WORLD TRAVEL AWARDS 2021 thaipr.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thaipr.net Daily Mail and Mail on Sunday newspapers.