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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Ascott clinches seven new management contracts in Southeast Asia

It has expanded its portfolio to five new cities.

Ascott, CapitaLand’s wholly-owned serviced residence business unit, has bagged seven new management contracts and adding over 1,500 apartment units to its portfolio.

The group has expanded in Bangkok in Thailand, Hanoi in Vietnam, and Petaling Jaya in Malaysia while venturing into Bandung in Indonesia, Penang and Shah Alam in Malaysia, and Nha Trang in Vietnam.

Ascott also celebrated the opening of Somerset Medini Nusajaya, its second serviced residence in Iskandar Malaysia.

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