CapitaLand’s Ascott expands presence in China with 8 new serviced residences

SINGAPORE (Nov 10): CapitaLand today announced its wholly-owned serviced residence business unit, The Ascott Limited, will be expanding its presence in China after inking contracts to manage eight new serviced residents in China’s cities of Beijing, Chongqing, Haikou, Hangzhou, Shanghai and Xiamen.

This will be accomplished through the company’s Ascott, Citadines and Tuijia Somerset brands, and adds a record number of 2,800 apartment units across its 16 new properties this year.

Of the eight new serviced residences signed, Tujia Somerset Palm Springs Chongqing is already operational.

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