Singapore-based serviced residences operator The Ascott announced that it has secured a contract to manage its first property in Myanmar as it celebrates its 30th anniversary. Somerset Kabar Aye Yangon, a 135-unit mixed-use property with luxury condominiums, is scheduled to open in 2018. Located in downtown Yangon n
Singapore-based serviced residences operator The Ascott announced that it has secured a contract to manage its first property in Myanmar as it celebrates its 30th anniversary.
Somerset Kabar Aye Yangon, a 135-unit mixed-use property with luxury condominiums, is scheduled to open in 2018. Located in downtown Yangon near Inya Lake, the residence is minutes away from tourist attractions such as the Shwedagon Pagoda and the diplomatic quarters.
Ascott, wholly-owned by CapitaLand, also announced its third property in Wuhan in Hubei Province, China, and the forthcoming opening of Ascott Sentral Kuala Lumpur on 21 March and Ascott Midtown Suzhou in April. The company aims to manage 40,000 apartment units by 2015 across Asia and Europe including Germany, where it recently opened Citadines City Centre Frankfurt.
“As Ascott celebrates 30 years of successful business, we would like to thank all our customers for their unwavering support,” said Lee Chee Koon, Ascott's CEO. “We plan to open 58 properties across 12 countries by 2018, of which about 20 properties are scheduled to open this year.”