Ascott Bolsters Southeast Asia Presence with New Properties

CapitaLand Investment Limited (SG:9CI) has released an update.

The Ascott Limited, a CapitaLand Investment business unit, has announced a significant expansion in Southeast Asia with 28 new property signings and planned openings this year, totaling over 3,400 units across nine countries. This move, marking Ascott’s entry into new cities such as Purwakarta and Kulim, is a testament to the success of its flex-hybrid hotel-in-residence model, which offers versatile lodging options. The expansion is part of Ascott’s growth strategy, which has seen its portfolio in the region increase fivefold in the past decade, strengthening its market presence and global expansion initiatives.

For further insights into SG:9CI stock, check out TipRanks’ Stock Analysis page.