Ascendas is the new owner of The Esplanade Hotel
Singapore-based Ascendas bought Australian The Esplanade Hotel for AUD 90 million reported in CommercialAsia news. This is not the “only hotel acquired by Ascendas. Last year, the property firm also acquired the entire Mirvac hotel portfolio, operated by French management group Accor, for AUD 327 million.
Ascendas’ acquisitions follow significant investor interest in Australia’s property sector coming from overseas, especially from Asia.”
You may want to find out more on Asian real estate companies’ plans and insights at Real Estate Investment World Asia 2012, taking place from 26 – 28 June 2012 at Marina Bay Sands Singapore. Visit www.reiwasia.com for more information.