Ascott REIT Aquires Land for Co-Living Property

News about CapitaLand Ascott Trust

Ascott Residence Trust has purchased a 60 year leasehold land plot in Nepal Hill, Singapore, that it plans to develop into a co-living property.

Ascott Reit's bid of S$62.4 million for the site was the highest of the four and nearly S$13 million more than the second-highest bid of S$49.5 million by Ascendas Nepal Hill Property. Its proposal features creative use of communal spaces and comprehensive programmes to promote social bonding, wellness, personal development and business networking.

CapitaLand Ascott Trust
Price1.070 SGD
NAV1.130 SGD
Yield (4 quarters)4.30%
Gearing35.8%