World domination: Ascott to launch 20 properties around the globe this year

More than its new launches in 2014.

The Ascott Limited is still on the fast track of global expansion, as it is slated to achieve a target of 40,000 apartment units worldwide by end of this year and 80,000 units by 2020.

Recently, Ascott opened its first properties in Cyberjaya, Sri Racha and Hai Phong to cater to the increasing demand from multinational companies that are setting up base in these growing cities.

Lee Chee Koon, Ascott’s CEO, says, “Last year, we opened 17 properties and added 28 properties with over 4,800 apartment units to our global portfolio. Besides expanding through acquisitions, management contracts and leases, we secured our first franchises in Vientiane and Bali. We also formed strategic alliances in China and Australia to accelerate Ascott’s growth.”

Lee adds, “Globally, we have another over 50 properties to be opened, of which more than 20 are slated to open this year in China, India, Indonesia, Korea, Malaysia, Philippines, Vietnam, Oman and Saudi Arabia.”