Ascott acquires Jakarta property

The Ascott Limited (Ascott) has acquired the recently-opened 185-unit Ascott Kuningan Jakarta for S$90 million under a conditional agreement with PT Ciputra Adigraha.

Ascott Waterfront Saigon
Somerset Vientiane

The CapitaLand serviced residence business unit has also secured a contract to manage the 222-unit Ascott Waterfront Saigon from Canh Hung Hai Thanh Corporation.

The river-fronting property located in downtown Ho Chi Minh City will be the first Ascott-branded serviced residence in Vietnam and Ascott’s 13th property in the country when it opens in 2016.

In addition, the company has added 25 properties with more than 4,500 apartment units to its global network through acquisitions, management contracts, strategic alliances, franchises and leases this year.

It has also opened 14 properties with over 2,000 apartment units so far in 2014 and will be opening Somerset Vientiane, its first serviced residence in the Lao People’s Democratic Republic, on 9 December. More properties such as Citadines LiZhiWan Guangzhou and Somerset Grandview Shenzhen will open before the end of the year.

Ascott also scooped a total of 19 accolades at the 2014 World Travel Awards for Asia & Australasia and Europe as well as at the Business Traveller Awards for China, Asia Pacific and Europe.

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