Ascott Group enters into Hyderabad Real Estate.

The Ascott Group (Ascott) has acquired its first serviced residence with more than two hundred units in Ahmedabad. The investment is a joint venture with The Rattha Group (Rattha), a company in the field of exports, infrastructure development and leasing. Ascott has invested more than two hundred fifty million rupees for the project and will take a 40 percent stake in the joint venture, with Rattha holding the remaining. With the latest addition, Ascott’s portfolio in India grows to 1,398 units across six properties which are currently under development.
Ms Jennie Chua, Ascott’s President & CEO said, “Citadines Ahmedabad Parimal Garden marks our entry into West India and extends our footprint beyond the southern cities of Bangalore, Chennai and Hyderabad”.

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