ASAP Quality Accredited Operator Member Ascott is ramping up its expansion with a target to double its portfolio to 160,000 units globally by 2023.
It has taken on contracts to manage another four properties with 1,200 units in new cities such as Malacca in Malaysia and Davao in the Philippines, while deepening its presence in Guangzhou in China and Cebu in the Philippines.
With these new additions, Ascott currently has more than 160 properties with about 30,000 units under development worldwide. About 35 of these properties with more than 6,500 units are scheduled to open this year, half of which are in China, and a quarter in Southeast Asia. The rest are in countries such as Australia, France, India, Saudi Arabia, and the United Kingdom, including Ascott’s first property in Africa.
The new management contracts have increased Ascott’s portfolio in Southeast Asia to about 23,000 units in 111 properties across 34 cities. Its newly secured properties in Guangzhou has also strengthened Ascott’s foothold in China with over 20,000 units in about 110 properties across 31 cities.
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