Ascott reaches 100 cities milestone

George Sell By George Sell
27 April 2016 | Updated 28 April 2016

Singapore: The Ascott Limited’s portfolio has reached 100 cities worldwide.

A new opening in Haikou, China took Ascott into triple figures. The 154-unit Tujia Somerset West Coast Haikou is one of six properties to open under Ascott's joint venture company with International, China's largest online apartment sharing platform equivalent to Airbnb. Two of the six Tujia Somerset serviced residences, the 76-unit Tujia Somerset Baiyue Dalian and 355-unit Tujia Somerset Xinhui Shenyang are already in operation. Ascott aims to have 2,000 units under Tujia Somerset by the end of 2016, contributing to its target of 20,000 units in China by 2020.

Additions elsewhere to Ascott's management portfolio include a prime property in one-north business park, Singapore's research and development hub which houses more than 400 companies. Furthering its presence in Singapore, the 50-unit serviced residence is currently operating and will be rebranded to Citadines Fusionopolis Singapore from 1 April 2016. Singapore is already one of Ascott's top revenue generating markets across more than 20 companies globally.

Ascott now has more than 28,000 operating units, with a further 17,000 under development, making a total of more than 45,000 units in 290 properties. The company's target is 80,000 units globally by 2020.

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