CapitaLand Investment’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is investing in two properties in Ningbo, China and Amsterdam, the Netherlands for approximately S$190 million through Ascott Serviced Residence Global Fund (ASRGF)1, Ascott’s private equity fund with Qatar Investment Authority. When fully deployed, the acquisitions will boost Ascott’s total funds under management (FUM)2to S$9 billion.
CapitaLand Investment Limited s wholly owned lodging business unit, The Ascott Limited (Ascott), one of the leading international lodging owner-operators has entered into an agreement to acquire a property in Paris for the development of the first and flagship lyf property in Europe, lyf Gambetta Paris, set to open in 2024.