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57. Ascott Signs Six New Serviced Apartments in China
Ascott has signed contracts to manage six properties with more than 1,200 apartment units in China. The new properties entrench Ascottís presence in Changsha, Shenzhen, Tianjin and Wuhan, while extending its footprint to two more cities Ė Handan and Xuzhou.
58. Ascott Forms Strategic Alliance with Ciputra
Ascott has formed a strategic alliance with one of Indonesiaís top property developers Ė Ciputra Development Group (Ciputra). Under the alliance, Ascott will manage serviced residences to be developed by Ciputra in Indonesia and China within the next five years. The 253-unit Citadines Sudirman Jakarta, the first property under the alliance, will open in 2021.
59. Ascott Expands Portfolio in Philippines with Cebu Landmasters Alliance
Ascott has boosted its portfolio in Philippines by entering into a strategic alliance with one of the countryís top real estate developers, Cebu Landmasters Inc. (CLI), to manage 1,600 units by 2022. Under the alliance, both parties will seek properties for CLI to develop into serviced residences to be managed by Ascott.
60. Ascott Sets Up US$600 Million Fund with Qatar Investment Authority
Ascott has entered into a 50:50 joint venture with Qatar Investment Authority (QIA) to set up a US$600 million (approximately S$809 million) serviced residence fund with an initial focus on the Asia Pacific and Europe regions. This is Ascottís largest private equity fund to date. With a target to launch six new funds with total assets under management (AUM) of up to S$10 billion by
61. Ascott Signs Properties in Foshan and Hong Kong
Ascott has signed contracts to manage two properties in Foshan and Hong Kong SAR. The latest additions further strengthen Ascottís leadership position as one of the largest international serviced residence owner-operators in China with over 7,000 apartment units in 40 properties across 17 cities.
62. Ascott Enhances Profile in America
Ascott is enhancing its profile in the North American market through the formation of a marketing partnership with AKA, a luxury brand of serviced residences. Ascott has also appointed the established Serviced Apartments Worldwide (SAW) as its sales representative in the United States.
63. Ascott to Double Portfolio to 160,000 Units Globally by 2023
Ascott is ramping up its expansion plans with a target to double its portfolio to 160,000 units globally by 2023. Hot on the heels of its recent signing of nine management contracts in China, Ascott has clinched contracts to manage another four properties with 1,200 units in new cities such as Malacca in Malaysia and Davao in Philippines while deepening its presence in Guangzhou in
64. Ascott Opens Third Property in Shenzhen, China
Ascott has opened its third property in Shenzhen. Located in Nanshan District, the cityís technology and industrial hub, Ascott Raffles City Shenzhen is part of CapitaLandís flagship Raffles City integrated development Ė which also comprises a 70,000-sqm mall with more than 200 shops, and a 23-storey office tower, and is designed by world-renowned architecture firm Benoy.

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