Ascott to launch first Somerset-serviced residence in Gurgaon

The property is slated to open in 2019.

Ascott’s network in India continues to expand as it seeks more opportunities for investments and management contracts, leases or franchise agreements.

In a media release, CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has secured a contract to manage its first Somerset-branded serviced residence in Gurgaon. Slated to open by 2019, the 174-unit Somerset Diplomatic Greens Gurgaon will be Ascott’s second serviced residence in the city, after Ascott Ireo City Gurgaon which is scheduled to open in 2017.

With Somerset Diplomatic Greens Gurgaon, Ascott’s footprint in India will also increase to over 1,400 apartment units in eight serviced residences across five cities.

Besides Ahmedabad, Bangalore, Chennai, Hyderabad and Gurgaon where it has presence, Ascott is seeking opportunities in key business cities including Mumbai, New Delhi and Pune.

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