Ascott has achieved record-breaking growth this year by securing more than 10,000 apartment units in 51 properties, bringing the company’s portfolio to more than 52,000 units globally.
Said Lee Chee Koon, Ascott’s CEO: “Of these new units, 90 per cent are located in gateway cities across Asia-Pacific and the Middle East.”
Half of the new inventory are contracts in South-east Asia. And according to an Ascott statement, Vietnam is one of its best performing countries and largest market in South-east Asia with the most number of properties. The company seeks to achieve 7,000 units there by 2020.
“This year, Ascott has also opened 20 properties with more than 3,700 units, our fastest pace ever. As more of the newly signed properties come into operation, we can expect a further boost to our management fee income,” Lee added.
Ascott’s latest additions are 10 new management contracts in Hanoi, Halong City, Phnom Penh, Bangkok, Manila and Cebu.
