Ascott to debut in India
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Ascott has secured a contract to manage its first Ascott-branded serviced residence in India.
The Singapore-based serviced residence operator, which is part of the Capitaland group, already operates 22,000 serviced apartment units across the world and will now add a further 160 units in Gurgaon, the satellite city just outside Delhi.
Slated to open by 2016, the Ascott Ireo City Gurgaon will be located next to the planned two-storey Ireo City Central retail and entertainment complex. It will feature a range of studio, one- and two-bedroom apartments plus a swimming pool, gymnasium and restaurant.
“Ascott has recently expanded into Nanjing and Wuxi in China, and Riyadh and Jeddah in Saudi Arabia. Ascott Ireo City Gurgaon has added yet another city to our global footprint,” said Lee Chee Koon, Ascott’s CEO. “We remain confident in India’s long-term economic fundamentals and continue to see potential for serviced residences in the emerging country.”
With the addition of Ascott Ireo City Gurgaon, the company now has nine properties with more than 1,900 apartment units in India. The previous eight properties are all branded under Citadines and Somerset labels.
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