SINGAPORE (Dec 18): CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has secured contracts to manage two properties situated in Accra, the capital of Ghana.  

This marks Ascott’s first foray into Africa and comprises the 220-unit Ascott 1 Oxford Street Accra, which will open in phases from 2019, as well as the 40-unit Kwarleyz Residence due to open in 4Q18.

In a Monday announcement, Ascott highlights Ghana as one of Africa’s most attractive investment destinations, and says the latest contracts brings its portfolio to close to 70,000 units from over 51,000 units at end-2016.

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