Ascott acquires 185-unit Jakarta serviced residence for $90m
It will also manage a new project in Vietnam.
Ascott is acquiring the recently-opened 185-unit Ascott Kuningan Jakarta for $90 million under a conditional agreement with PT Ciputra Adigraha, a subsidiary of Jakarta-listed PT Ciputra Property.
Ascott has also secured a contract to manage the 222-unit Ascott Waterfront Saigon from Canh Hung Hai Thanh Corporation, an affiliate company under the management of developer, M.I.K Corporation.
The property located in downtown Ho Chi Minh City will be the first Ascott-branded serviced residence in Vietnam and Ascott’s 13th property in the country when it opens in 2016.