Published on : Tuesday, April 10, 2018
The Ascott is accelerating its expansion in Asia by forging strategic partnerships with leading developers in China, Japan and Thailand to manage apartments currently under development as well as future projects by these companies.
Strategic partnerships with leading developers in China, Japan and Thailand has been accelerated by The Ascott with expansion plans to manage apartments which are currently under development along with the future projects of these companies. Ascott has partnered specialty township developer, Riverside Group in China to launch serviced residences in Zhejiang, Chongqing and future riverside themed towns in other key cities.
This strategic partnership will start with two serviced residences having a total of 350 units in Zhejiang and Chongqing. This is a consequence of Ascott’s contract with Riverside Group to manage the 190-unit Ascott Riverside Garden Beijing. Ascott has entered a business cooperation with the listed Japanese real estate company, NTT Urban Development Corporation – a subsidiary of Nippon Telegraph & Telephone Corporation in Japan.
It will jointly explore serviced residence opportunities in Japan and are currently working on two projects in Fukuoka and Yokohama. Ananda Development, has expanded into the serviced residence business through its strategic alliance with Ascott in Thailand. Ascott will be offering close to 1,500 apartment units in Bangkok when they open between 2020 and 2021. Kevin Goh, Ascott chief executive stated that forming strategic cooperation with well-established developers is one of Ascott’s key strategies for growth.
The alliances in Singapore, Australia, China, Indonesia, Japan and the Middle East, the alliances we help us to gain access to a variety of large scale, quality projects to fast-track Ascott’s expansion and broaden their reach. He further mentioned that Ascott’s global network of close to 100,000 corporate clients will create cross- marketing opportunities across the globe to being maximum returns for their partners.