14,200 Ascott units adds record to lodging portfolio

CapitaLand’s fully owned accommodation company unit, The Ascott, included a list of over 14,200 units across 71 properties internationally to its own portfolio for 2020. This may boost Ascott’s yearly fee income by more than $27 million since the possessions available progressively and stabilise, states that the developer.

Parc Greenwich EC Fernvale Lane is proximity to amenities and facilities and URA’s future developments in the north-east region, Parc Greenwich is expected to receive a high demand.

Since October 2020, Ascott has included over 4,900 units across 23 properties to its portfolio, which comprises over 3,800 units across 17 possessions in China.
One of the recently procured properties are just two rental home properties in Shanghai and Hangzhou, signaling the company’s increased presence in China’s rental home industry.

“Ascott’s expansion to the rental home section taps on the expanding need from young, mobile employees in addition to returning students from overseas who are wanting to rent grade fully furnished houses in the tier one and tier two cities on a longterm foundation in China,” says Tan Tze Shang, Ascott’s managing director for China and head of business development for China.

“We also have infused new technologies to the more conventional rental housing industry by allowing our visitors to cover utilities and rent, submit requests and reserve facilities to increase guest satisfaction and enhance operational performance,” Tan adds.

Outside of China, Ascott has secured contracts for More than 1,000 new components, across six possessions, in markets such as Doha, Qatar; Manila, Philippines; Singapore; and Sydney, Australia.

In Vietnam, Ascott is set to present its original lyf co-living land and original Citadines Connect company resort in Binh Duong and Danang respectively.

The accommodation industry quotes that over 80 possessions with a few 17,000 units will start this season.