26 Feb 2014

Ascott Residence Trust's Acquisition in Dalian

Danny Lim, Chia Lee Fong, Penelope Loh and Caitlin Huang from the Corporate & Capital Markets Practice acted as Singapore counsel to Ascott Residence Trust Management Limited in its first foray into serviced residence in Dalian, PRC. This was through a RMB468.3 million (approximately S$97.3 million) acquisition of interest in Wangze (Dalian) Enterprise Co., Limited, which holds a 195-unit serviced residence development that is the first international serviced residence in the Dalian Development Area.