Ascott has strengthened its leadership position as the largest serviced residence operator in south-east Asia with the clinching of seven new management contracts, adding over 1,500 apartment units to its portfolio.
It has expanded in Bangkok in Thailand, Hanoi in Vietnam, and Petaling Jaya in Malaysia while venturing into Bandung in Indonesia, Penang and Shah Alam in Malaysia, and Nha Trang in Vietnam as demand for serviced residences heats up.
It also celebrated the opening of Somerset Medini Nusajaya, Ascott’s second serviced residence in Iskandar Malaysia.
Lee Chee Koon, Ascott chief executive, said: “Southeast Asia is Ascott’s fastest growing market and second largest globally after China.