CapitaLand's The Ascott takes its premier brand to Tokyo
Published on Apr 15, 2014 4:39 PM
CapitaLand's The Ascott has brought its premier Ascott The Residence serviced residence brand to Tokyo through a master lease agreement with Mitsubishi Estate Company (MEC), one of Japan's largest real estate developers.
The 129-unit Ascott Marunouchi Tokyo is slated to open in 2017, ahead of the 2020 Olympics to be held in the city.
Ascott already has a presence in Japan. It currently operates about 360 serviced apartment units in Citadines Shinjuku and Somerset Azabu East in Tokyo, and Citadines Karasuma-Gojo in Kyoto.
Aside from serviced residences, Ascott has 40 properties with more than 2,800 apartment units for corporate lease across 10 major cities including Tokyo, Osaka, Nagoya and Fukuoka.
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