Read more: Modern Montessori proprietor at South Bridge Road to divest MMI buildings for $forty mil

Modern Montessori proprietor at South Bridge Road to divest MMI buildings for $forty mil

CapitaLand’s lodging unit, The Ascott is opening 17 co-living units with more than 3,000 units in 13 cities across nine countries. It will do so by 2025.
Ascott’s first co-living property in China, Mid-Town Hangzhou is now part of the expanded portfolio. The group also secured a management contract to manage its second property in Thailand, the lyf Riverside Bangkok.

This is in addition to Ascott’s June 2021 acquisition of live lyf here Gambetta Paris as its first lyf property. It was acquired through Ascott Serviced Residence Global Fund.
Ascott has already opened four lyf properties in Singapore, Bangkok Fukuoka, Hangzhou and Fukuoka. Three more properties are planned to open in Singapore, Xi’an, and Shanghai later this year.

Kevin Goh (CapitaLand Investment’s CEO, Lodging), says that there is potential for co-living investments through our trust and fund or a dedicated co-living lodging fund with likeminded capital partners to accelerate growth.

Goh says, “This will allow us to leverage capital-efficient business models to expand our capital partners while achieving fee related earnings and funds under management growth.”

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