The new signings bring its European portfolio to 64 properties and almost 8,500 units
[SINGAPORE] Real estate asset manager CapitaLand Investment’s wholly owned lodging business unit on Friday (Oct 17) announced that it has signed seven new properties in Vienna, Austria and Seville, Spain through franchise and management agreements.
The new signings bring Ascott’s European portfolio to 64 properties and almost 8,500 units. Globally, the group has more than 1,000 properties and 175,000 units.
Kevin Goh, chief executive officer of Ascott, said: “Europe is a cornerstone of Ascott’s global growth strategy, offering a resilient, high-yield market underpinned by strong tourism fundamentals and fragmented supply, where a significant portion of quality assets remain unbranded.”
Its Vienna signings continue a partnership with property developer VIE Trust Real Estate Group, with whom it already partners on three properties across the Citadines, lyf and Somerset brands. One of the new properties will be under lyf.
Meanwhile, its Spain signings extend its partnership with Forty Management, with whom it manages a property in Bucharest, Hungary. One of the new properties there will also be under the lyf brand and the other will be under the Somerset brand, with both part of the 12.5-hectare mixed-use mega project Lagoon City Seville.
The resort development – scheduled to open at the end of 2028 – will include residential apartments and villas, a convention centre, as well as many recreational amenities, restaurants and bars.
Ascott’s new signings carry on its push across Europe, with the opening of lyf Gambetta in Paris on Thursday. This makes it the third lyf property in the region.
Four more lyf properties are set to open in 2026 – one in Vienna and three in the United Kingdom, including one at Chelsea Football Club’s London stadium and the others in Manchester and Glasgow.
Units of CapitaLand Investment ended Thursday 0.4 per cent or S$0.01 down at S$2.65.
