The Ascott extends Thai footprint, opening new serviced residence in Chonburi
CAPITALAND's wholly-owned serviced residence business unit, The Ascott, has won a contract to manage a 133-unit serviced residence in Thailand's Sri Racha district in Chonburi province.
It said this has allowed it to extend its footprint to Thailand's Eastern Seaboard economic region.
The new Citadines Grand Central Sri Racha is scheduled to open in 2014.
The Ascott said the new development will enhance its pole position as the largest international serviced residence owner-operator in Thailand with over 1,800 apartment units across 10 properties.