SINGAPORE: The Ascott Group has won a contract to manage a 65-unit serviced residence in Georgia.
The contract was awarded by Amtel Properties Development.
The property will be named Citadines Tbilisi Freedom Square and will be opened in the second half of next year.
The seven-storey property brings Ascott's European portfolio to over 5,600 units.
Ascott will be the first international serviced residence operator in the country.
Its entry into Georgia will boost the group's expansion into the emerging Eastern European market.
Ascott did not reveal the financial value of the contract.
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