CapitaLand’s wholly endemic serviced abode business unit, The Ascott Limited (Ascott), is advocacy its almanac advance this year with its aboriginal attack into Africa. It has anchored affairs to administer two backdrop in the affection of Accra, one of Africa’s top cities for investment. The 220-unit Ascott 1 Oxford Street Accra will accessible in phases from 2019, while the 40-unit Kwarleyz Abode will accessible in 4Q 2018.
Mr Lee Chee Koon, Ascott’s Chief Executive Officer, said: “We are aflame to abutting a almanac year of advance for Ascott with the acknowledged accession of addition continent, Africa, to Ascott’s all-around footprint. Ascott added 18 new cities beyond nine countries and anchored a almanac of over 21,000 units in 2017. This is not alone alert the admission in 2016, but additionally Ascott’s better anytime portfolio amplification in a distinct year. As these backdrop progressively accessible and stabilise, we can apprehend added fee assets addition to Ascott annually. Ascott is set to beat its ambition of 80,000 units able-bodied advanced of 2020 as we abide with this advance trajectory, accretion through cardinal alliances, administration contracts, franchises and investments.”
Mr Lee added: “Ascott has been managing world-class serviced residences globally for the aftermost 30 years and we see huge opportunities to accompany Ascott into Africa, the world’s additional fastestgrowing abridgement afterwards Asia1 . Africa’s bread-and-butter advance is fuelled by massive basement development, favourable advance behavior and a adolescent population. Ascott is bringing an internationally renowned, well-loved cast to the affection of Accra, the basic of Ghana. We apprehend able appeal from the arrival of business and leisure travellers as adopted absolute advance continues to admission rapidly in this bread-and-butter and authoritative hub.”
Mr Thomas Wee, Ascott’s Deputy Managing Director for India, Middle East & Africa, said: “The serviced abode industry in Africa has cogent beginning potential. Managing Kwarleyz Abode gives us quick time-to-market as it is already beneath development, while we architecture our additional acreage beneath our arch Ascott The Abode brand, which will action top business admiral comfortable active in an absolute environment. Ascott 1 Oxford Street Accra will be one of the tallest building in Accra, aural walking ambit to the banking district, recreational and retail outlets, while Kwarleyz Abode is in an flush residential breadth amidst by embassies. With the properties’ prime locations and Ascott’s awardwinning hospitality, both backdrop will be a huge draw for business and leisure travellers.”
The All-embracing Monetary Fund forecasts that Africa’s abridgement will be the second-fastest growing in the apple with an anniversary advance amount of 4.3% from 2016 to 20202 . With a accepted citizenry of over one billion, Africa will be home to the world’s better working-age citizenry in beneath than two decades2
Ghana is one of Africa’s best adorable advance destinations. According to the Apple Advance Report 2017, adopted absolute advance in Ghana added by 9% to a almanac US$3.5 billion in 20163 . The Apple Travel & Tourism Council expects the tourism industry in Ghana to aggrandize by 5.6% in 2017 and advance an anniversary advance amount of 5.1% from 2017 to 2027, and that the country will allure over two actor all-embracing tourists in 20274 .
Ascott has boarded on an advancing amplification this year as it acquired an 80% pale in Synergy All-around Housing, a arch adaptation provider in the U.S., and added its pale in Quest Apartment Hotels to 80% to authorize itself as the better serviced abode provider in Australasia. Coupled with added investments and administration contracts, Ascott’s portfolio has added from added than 51,000 units at the end of aftermost year to abutting to 70,000 units.
Refer to Annex for capacity of Ascott 1 Oxford Street Accra and Kwarleyz Residence.
Located forth Oxford Street in Osu, Accra’s business, ball and bartering hub, Ascott 1 Oxford Street Accra is about a 15-minute drive from Kotoka All-embracing Airport with accessible admission to the added genitalia of the burghal via accessible transportation. The serviced abode is about a 10-minute airing to the business commune and a array of amenities including restaurants, banks, ball outlets and supermarkets. Ascott 1 Oxford Street Accra will action a absolute of 220 units advance over two towers, which will accessible in phases from 2019.
Ascott 1 Oxford Street Accra will be one of the tallest building in Accra. Soaring at 230 anxiety aloft ground, the serviced abode will accommodate all-embracing angle of the city. It will action a ambit of studio, one-, two- and three-bedroom apartments. Guests will get to adore accessories such as a gymnasium, alfresco pond pool, breakfast lounge, residents’ lounge, business centre, affair rooms, spa and sky bar.
Located in the flush residential breadth of the Cantonments district, Kwarleyz Abode is amidst by embassies and the address of gold mining companies. About a five-minute drive from Kotoka All-embracing Airport, the acreage is aural accessible admission to the Marina Mall at Airport Burghal and Tema Industrial City, via the Motorway. The 40-unit serviced abode will action studio, one- to three-bedroom apartments. Its accessories accommodate a breakfast lounge, gymnasium, alfresco pond pool, roof garden, sky bar and parking lots.
ContactJasmine SimSenior Manager, Group CommunicationsPhone: (65) 6713 2867Send Email
The Ascott Limited is a Singapore aggregation that has developed to be one of the arch all-embracing serviced abode owner-operators. It has over 30,000 operating serviced abode units in key cities of the Americas, Asia Pacific, Europe and the Middle East, as able-bodied as over 22,000 units which are beneath development, authoritative a absolute of added than 52,000 units in over 300 properties. The aggregation operates three award-winning brands – Ascott, Citadines and Somerset, forth with The Crest Collection and lyf. Ascott”s portfolio spans added than 100 cities beyond 29 countries.
Ascott, a wholly endemic accessory of CapitaLand Limited, pioneered Asia Pacific’s aboriginal international-class serviced abode with the aperture of The Ascott Singapore in 1984. Today, the aggregation boasts over 30 years of industry clue almanac and award-winning serviced abode brands that adore acceptance worldwide.
Ascott”s achievements accept been recognised internationally. Recent awards accommodate DestinAsian Readers” Choice Awards 2017 for “Best Serviced Abode Brand”; TTG China Travel Awards 2017 for “Best Serviced Abode Operator in China”; Apple Travel Awards 2016 for “Leading Serviced Apartment Brand” in Asia, Europe and the Middle East; Business Traveller Asia-Pacific Awards 2016 for “Best Serviced Abode Brand”; Business Traveller Middle East Awards 2016 for “Best Serviced Apartment Company”; Business Traveller UK Awards 2016 for “Best Serviced Apartment Company” and Business Traveller China Awards 2016 for “Best Serviced Abode Brand”. For a abounding account of awards, amuse appointment www.theascott.com/ascottlimited/awards.html.
CapitaLand is one of Asia”s better absolute acreage companies. Headquartered and listed in Singapore, it is an buyer and administrator of a all-around portfolio account added than S$78 billion as at 31 December 2016, absolute chip developments, arcade malls, serviced residences, offices, homes, absolute acreage advance trusts (REITs) and funds. Present beyond added than 130 cities in over 20 countries, the Group focuses on Singapore and China as amount markets, while it continues to aggrandize in markets such as Vietnam and Indonesia.
CapitaLand”s aggressive advantage is its cogent asset abject and all-encompassing bazaar network. Coupled with all-encompassing design, development and operational capabilities, the Group develops and manages high-quality absolute acreage articles and services. It additionally has one of the better advance administration businesses in Asia and a abiding of bristles REITs listed in Singapore and Malaysia – CapitaLand Mall Trust, CapitaLand Bartering Trust, Ascott Abode Trust, CapitaLand Retail China Trust and CapitaLand Malaysia Mall Trust.
Visit www.capitaland.com for added information
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