World news – Ascott cracks record growth despite Covid-19


Hello, your email is not verified. Please confirm access to all of your SPH accounts. SEND AGAIN

CAPITALAND’S The Ascott posted record four-year growth in real estate units in 2020 as it increases recurring fee income through management and franchise agreements.

In 2020, Ascott added 14,200 units in 71 properties worldwide added. Despite Covid-19, the additional units exceeded the total number of units added in 2019 of around 14,100 units, based on the figures reported in December 2019.

These units signed here relate to units that are based on management contracts, franchises and strategic alliances have been signed, Ascott said.

The new units added in 2020 are expected to increase Ascott’s annual fee income by over S $ 27 million as the properties gradually open and stabilize.

Kevin Goh , Ascott’s chief executive who is also CapitaLands chief executive for accommodations, said more than 80 properties with approximately 17,000 units are expected to open in 2021.

Stay up to date with BT newsletters


By registering, you agree to our privacy policy and terms and conditions.

Your feedback is important to us
Tell us what you think. Email us at [email protected]

@media (min-width: 768px) {.sm-text-left {text-align: left; }}

These include over 70 properties with more than 15,000 units in the Asia-Pacific region that are expected to lead the global economic recovery, he added. Ascott’s business in China continues to lead global expansion.

Mr. Goh said Ascott will continue to grow its future recurring fee income through the new management and franchise agreements signed.

« We will continue to look for ways to to expand our presence through management contracts, franchises and strategic alliances and be ready to take advantage of good investment opportunities, « said Goh.

 » Although we were not spared the short-term operational impact of Covid-19, we believe the Basic housing demand remains intact and will recover quickly once the global pandemic is brought under control. « 

Separately, Ascott launched 25 new properties in 2020, increasing Ascott’s global inventory by more than 3,900 units was expanded. This includes the opening of 10 properties with more than 1,800 units in China alone.

For comparison: The number of properties opened alone contributed to the inclusion of 7,500 units in 2019.

[BANGKOK] Thailand has further measures approved to impact the coronavirus pandemic after its largest …

SINGAPORE GIC maintained its position as the most active state-owned investor (SOI) for the second consecutive year in 2020 …

Former CEO of Sembcorp Industries, Tang Kin Fei, is the new chairman of the coal mining company Manhattan Resources …

[JAKARTA] The Indonesian authorities have removed one of the black boxes from a Sriwijaya Air plane that was in …

SINGAPORE must not be too badly affected by the state of emergency in Malaysia and its reintroduced movement control …



Donnez votre point de vue et aboonez-vous!


Votre point de vue compte, donnez votre avis

[maxbutton id= »1″]