Publish Date : 08-Aug-2012
CapitaLand Limited's serviced residence business unit, The Ascott Limited, on Tuesday said it has won a contract to manage its seventh property in the Philippines.

The 210-unit Citadines Millennium Ortigas Manila, located in Metro Manila's financial district, is scheduled to open in 2015.

It is expected to strengthen Ascott's leadership position as the largest international serviced residence owner-operator in the Philippines with over 1,300 apartment units across seven properties.

"We expect strong demand for our serviced residences with the increasing number of expatriates and business travellers entering the Philippines, and target to have 10 properties in the country by 2015," said Alfred Ong, Ascott's managing director for Ascott Southeast Asia and Australia.