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AscottSichuan apartments raise presence
April 7, 2010, Wednesday
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Ascott, CapitaLand's wholly owned serviced residence business arm, announced yesterday it has recently raised its China portfolio to more than 5,000 apartments in 27 properties across 13 cities by expanding into Chengdu, Sichuan Province.
Operational from this month, the 200-unit Somerset Riverview, Chengdu, acquired through the Ascott China Fund, has enabled Ascott to establish a strong foothold in western China and further cemented the firm's leadership position as the largest international serviced residence owner-operator in the country, said Lim Ming Yan, Ascott's chief executive officer.
Operational from this month, the 200-unit Somerset Riverview, Chengdu, acquired through the Ascott China Fund, has enabled Ascott to establish a strong foothold in western China and further cemented the firm's leadership position as the largest international serviced residence owner-operator in the country, said Lim Ming Yan, Ascott's chief executive officer.
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