CapitaLand

CapitaLand: its wholly-owned serviced residence business unit, Ascott, has clinched contracts to manage three more properties in Shanghai and Suzhou, China. The 90-unit Ascott Heng Shan Shanghai, located in the Xuhui District, is scheduled to open in 2014. The 250-unit Ascott Emerald City Suzhou in the Suzhou New District, and the 194-unit Somerset Baitang Suzhou in the Suzhou Industrial Park, are scheduled to open in 2015 and 2017 respectively. The contracts take Ascott’s serviced residences in the 2 cities to more than 10.