The Ascott has clinched contracts to manage four properties totalling 1,200 units in Malacca, Guang-zhou, Davao and Cebu.

Somerset Melaka Island, which is slated to open in 2022, will be part of a mixed-use development that also includes a shopping mall. It is located near an upcoming free trade zone and free port.

Citadines Panyu Guangzhou is located between the Wanbo Business District and Chimelong Resort, the most vibrant regions of Panyu district. It is expected to open in 2019.

The 250-unit Citadines Riverside Davao will be part of an integrated development that also includes retail, office and event spaces. Opening in 2021, it is a 15-minute drive from downtown Davao City, as well as a 45-minute drive to Davao International Airport.

The other new property in the Philippines is lyf Cebu City, which will be the first lyf property in the country. The mixed-use project with office spaces, a supermarket, and dining and retail outlets is expected to open in 2021.

Ascott, the serviced-residence business unit of CapitaLand, is ramping up its expansion with a target to double its portfolio to 160,000 units globally by 2023, said Ascott chief executive Kevin Goh.

With the global economic upswing and international travel arrivals hitting new highs, Ascott is on track to exceed 80,000 units this year, he added.

Ascott will focus on key gateway cities in its two biggest markets, China and South-east Asia, as well as markets such as Australia, Europe, Japan, South Korea and the United States.

"To position Ascott for the future, we will harness digital innovation and technology to enhance customer experience. For instance, our co-living brand, lyf, targeted at the millennials, will provide guests with a complete digital experience," Mr Goh said.

With these additions, Ascott 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 them are in China and a quarter in South-east Asia.