ASCOTT has secured a contract to manage its first Ascott-branded serviced residence in India, the 160-unit Ascott Ireo City Gurgaon, which is slated to open by 2016.
Located in the centre of Ireo City, the property is next to the planned two-storey Ireo City Central retail zone and entertainment hub on Golf Course Extension Road.
The serviced residence offers one- and two-bedroom apartments, as well as facilities such as a swimming pool, gym, and an in-house restaurant.
Ascott’s CEO, Lee Chee Koon, said: “We remain confident in India’s long-term economic fundamentals and continue to see potential for serviced residences in the emerging country. With the addition of Ascott Ireo City Gurgaon, we now have nine properties with more than 1,900 apartment units in India.”
Ascott also recently announced its plan to open its eighth serviced residence in the Philippines. The 150-unit Somerset Alabang Manila is slated to open in 2017 (TTG Asia e-Daily, June 12, 2013).