Ascott enters Goa, to manage 2 Citadines-branded properties

Asias largest real estate company, CapitaLands wholly owned lodging business unit, The Ascott Limited (Ascott),Wednesday announced that it has secured a contract to manage two Citadines-branded serviced residences in Goa.

According to the media statement released here, the contract was awarded by PriParth Developers LLP, a subsidiary of Pune-based Niche Realtors.

"The management agreement consolidates Ascotts foray into a new city in India, Goa, and increases its India portfolio to over 1500 units across nine properties in six cities. The 148-unit Citadines Calangute Goa will open in 2021, while the 83-unit Citadines Candolim Goa is set to open in 2022," the company spokesman said.

Located in two prime tourist locations with in Goa, the upcoming Citadines Calangute Goa and Citadines Candolim Goa will comprise spacious and modern, fully-furnished serviced residences, he said.

"Due to improved air connectivity and consistent tourism growth, Goa airport attracts around 7.7 million passengers per annum and this number is steadily growing and the new airport is expected to fuel more tourist traffic growth in the region because of the increase in handling capacity," said Thomas Wee, Ascott's managing director for the Middle East, Africa, Turkey and India.

BV Bharadwaja, Ascotts country head - India, said, the signing of the management agreement for Citadines Calangute Goa and Citadines Candolim Goa marks the entry of the Goas first international branded serviced residence operator. Located in the prime tourist spots of Goa, the serviced residences will provide spacious studio, one and two bedroom apartments to both leisure and corporate travellers.