Ascott expands Japan operations with first serviced residence in Osaka

The serviced residence will offer a total of 313 units.

The Ascott Limited, the wholly-owned lodging business unit of Capitaland, expands its operations in Japan with the opening of its first Citadines serviced residence in Osaka, according to a press release.

Citadines Namba Osaka is the latest addition to the company’s portfolio in the country, which currently has seven serviced residences.

Ascott has partnered with Toshin Development, a subsidiary of department store business Takashimaya Group, for the management of the residences.

Citadines Namba Osaka, which previously stood as a department store, will have concepts of fashion and shopping incorporated into the different parts of the property as homage to the building’s roots, the company shared.

The serviced residence will offer a total of 313 units with varied apartment types.

Ascott is also set to launch another first in Japan, lyf Tenjin Fukuoka, its first coliving property, which will open in 2021.