Ascott bags management contracts for two Accra properties

Both will be serviced residences near city centres.

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), made its first foray into Africa after it bagged management contracts for two properties in Accra.

According to a press release, the 220-unit Ascott 1 Oxford Street Accra will open in phases from 2019, whilst the 40-unit Kwarleyz Residence will open in 4Q2018.

1 Oxford Street Accra is a 15-minute drive away from Kotoka International Airport and a 10-minute walk to the business district. The serviced residence is expected to yield 220 units spread over two towers.

"Ascott 1 Oxford Street Accra will be one of the tallest towers in Accra," Ascott said.

Meanwhile, the Kwarleyz Residence is located in the upscale residential area of the Cantonments district.

The site is also a five-minute drive from Kotoka International Airport and has easy access to the Marina Mall at Airport City and Tema Industrial City.

The 40-unit serviced residence will offer studio, one- to three-bedroom apartments.