Its wholly-owned serviced residence business unit, The Ascott Ltd, has secured contracts to manage two more serviced residence properties in Xi’an and Shenzhen, scheduled to open in 2012, 2013 respectively. This follows Ascott’s recent expansion into Chengdu in April. To date, its Citadines Xi’an Central and Somerset Garden City, Shenzhen have achieved strong occupancy of >80%.
Going forward, mgtm expects China to remain an important mkt for the group. Besides growing in cities such as Beijing and Shanghai, it has been expanding rapidly in other cities like Xi’an and Shenzhen where there is high demand for serviced residences. With these latest contracts, Ascott’s China portfolio will increase to more than 5,500 apartment units in 29 properties across 13 cities.
No comments:
Post a Comment