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Ascott, a Singaporean hospitality brand under CapitaLand Investment, aims to venture into India's co-living sector alongside its expansion of serviced apartment offerings in the country. Vincent Miccolis, Ascott's Managing Director for Middle East, Africa, Turkey & India, said Ascott eyes Delhi as an ideal market for its co-living concept.
Citadines Paras Square Gurugram marks as the first hotel in North India under Ascott India's portfolio, which now boasts a total of 18 properties across Bangalore, Hyderabad, Pune, Goa and Chennai. The Ascott Limited is the wholly owned lodging business unit of CapitaLand Investment Limited.
Housing sales in India's top seven cities reached a new peak in 2023, surpassing the previous high of 2022. A total of 476,530 units were sold in 2023, a 31% year-on-year increase. Mumbai Metropolitan Region (MMR) recorded the highest sales, followed by Pune. New launches across the top seven cities saw a 25% annual rise, with MMR and Pune leading in this category as well.
Indian Hotels Company (IHCL), India's largest hospitality company, today announced the opening of Ginger Noida, at Paras One33 Noida, Sector 133. It is designed around the brand's lean luxe design and service philosophy of offering its guests a vibrant, contemporary, and seamless hospitality experience.
Over the past year, companies such as Max, L&T, Gaurs, Saya, Paras, and Gulshan have purchased land valued at Rs 3,000 crore and initiated projects with revenue potential exceeding Rs 10,000 crore.