The Ascott forays into Africa after a record growth this year. It has secured contracts of managing two properties in the heart of Acra, considered as one of Africa’s top cities for investment.Published on : Wednesday, December 20, 2017
The Ascott forays into Africa after a record growth this year. It has secured contracts of managing two properties in the heart of Acra, considered as one of Africa’s top cities for investment.
From 2019 the 220-unit Ascott 1 Oxford Street Accra will open in phases and the 40-unit Kwarleyz Residence will open in the fourth quarter of next year 2018.
Lee Chee Koon, Ascott chief executive was excited to close a record year of growth for Ascott along with the successful addition of another continent, Africa.
In 2017 Ascott added 18 new cities across nine countries and secured a record of over 21,000 units.
This is the largest ever portfolio expansion in a single year.
Once these properties progressively open and stabilize there will be more fee income contribution to Ascott annually.
Lee added that Ascott has been managing world-class serviced residences globally for the last 30 years and there was an opportunity to bring Ascott into Africa, the world’s second fastest-growing economy after Asia.
Tags: Acra, Lee Chee Koon, The Ascott