Global serviced apartment operator The Ascott Limited is to open its first property in Phnom Penh, Cambodia.

The 105-apartment Somerset Norodom property will open in the capital city in 2018.

The deal means Ascott’s Southeast Asian portfolio now has more than 13,000 units in 74 properties across nine countries.

In August, Ascott invested more than £55 million in – China’s equivalent to Airbnb.

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