Capitaland’s Ascott clinches four new properties in China

It now owns 35,000 apartment units globally.

Capitaland’s Ascott has crossed its milestone of having 35,000 apartment units globally, after it secured contracts to manage four more properties in China with over 900 apartment units in Taiyuan, Beijing, Shanghai and Dalian.

The 170-unit Ascott Taiyuan, slated to open in 2018 is its first serviced residence in Taiyuan. It has also secured the 195-unit Ascott Riverside Garden Beijing and 342-unit Somerset Sunland Shanghai which are both slated to open in 2016, as well as an operating property in Dalian which has been rebranded as a 195-unit Somerset Grand Central Dalian.

“The four new properties will further strengthen Ascott’s leadership position as the largest international serviced residence owner-operator in China and in the world. In China, Ascott’s portfolio will expand to more than 11,600 apartment units in 64 properties across 21 cities,” Ascott said in a statement on Monday.