SINGAPORE (Jan 29): CapitaLand says its serviced residence business unit, The Ascott, has won contracts to manage four properties with 1,200 units across Malaysia, the Philippines and China.

Under the contracts, Ascott has entered new investment destinations Malacca and Davao in Malaysia and the Philippines, respectively. It will also be increasing its presence in Guangzhou, China, while opening its fifth property under the lyf brand in Cebu, the Philippines.

In a press release on Monday, Ascott says it is ramping up its expansion with a target to double its portfolio to 160,000 units globally by 2023.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook