Capitaland

Capitaland: Co’s serviced residence business unit Ascott Ltd has clinched contracts to manage 2 properties a 186 unit in Foshan opening in 2016 and a 71 unit in Hong Kong opening in 2013. Ascott has now secured over 870 units in 6 serviced projects in China on track to almost double its units managed in China to 12k units by 2015. Ascott REIT is 48.2% owned by Capitaland and may eventually be the recipient of any spin-offs but Capitaland has made no such mention of its Chinese serviced residences as of yet.