The Ascott Limited (Ascott), has secured contracts to manage
three more properties, adding 567 apartment units in China ,
including its first serviced residence in Hefei .
The 250-unit Somerset Swan Lake Hefei is slated to open in 2017 while
the 150-unit Ascott Nanbin Chongqing and 167-unit Somerset Software Park Xiamen
are both slated to open in 2015.
The three new properties will further strengthen Ascott’s leadership position as the largest international serviced residence owner-operator inChina with more than 9,000 apartment units
in 51 properties across 20 cities.
Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “China is our key market and we are growing
rapidly through management contracts, investments and strategic alliances. We
are on track to achieve our target of 12,000 apartment units in China by 2015. Ascott is the first
international serviced residence operator in Hefei .
Ascott has so far entered six cities in 2013 – Hefei , Nanjing and Wuxi in China , Gurgaon in India , and Riyadh and Jeddah in Saudi Arabia .
Our global portfolio has expanded to over 32,000 apartment units in 81 cities.”
The three new properties will further strengthen Ascott’s leadership position as the largest international serviced residence owner-operator in
Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “