Clifford Chance

Clifford Chance advises Ascott on US$600 million joint venture

Leading international law firm Clifford Chance has advised Ascott, the wholly owned serviced residence business unit of CapitaLand Limited, on its US$600 million 50:50 joint venture with the Qatar Investment Authority (QIA) to set up a serviced residence fund, with an initial focus on the Asia Pacific and Europe regions.

Lead partner Valerie Kong said, "We are delighted to have advised Ascott on this significant joint venture with QIA, and it further demonstrates the increasingly global focus of many Singapore headquartered companies like Ascott Group."

Valerie was supported by partners Leng-Fong Lai and Raymond Tong, counsel Lena Ng, senior associates Nathan Sandwell and Ying-Chiang Chong and associates Tzi Yang Seow, Esther Foo and Benjamin Moh.

Ascott is the world's largest international serviced residence owner-operator, with a portfolio spanning over 82 cities across more than 20 countries.