Capitaland bags new serviced residence contracts in four Asian cities

It will manage over 850 new units.

The world's largest global serviced residence owner continued to flex its muscles as it heads towards its goal of 80k units globally by 2020.

Supplementary to new units in Binh Duong and Seoul, Capitaland's serviced residence arm, Ascott, will be launching its maiden units in Yogyakarta and Miri.

Meanwhile, according to OCBC, the group aims to bank on fund management to further accelerate its growth.

"We expect the group to leverage on its fund management platform and work alongside blue-chip capital partners who will provide additional financial backing," OCBC said.

"To recap, the group had earlier this year established with Qatar Investment Authority (QIA) a 50-50 JV to set up a US$600m serviced residence fund with an initial focus on Asia Pacific and Europe. This was Ascott’s largest private equity fund to date and we understand that CAPL targets to launch six new funds with total AUM of up to S$10b by 2020," OCBC added.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit