CapitaLand Ascott Trust (CLAS) is announcing the acquisition of lyf at Funan Mall (Singapore), for a sum of S$263 million:

Following the transaction, Clas’ managers expect that the total payout to investors will increase by $3.5 million.

This means each investor could receive 1.5 per cent more in dividends compared with the 2023 financial year.

Clas’ gearing is expected to remain under 40 per cent after the proposed acquisition.

lyf is a co-living property with 329 rooms, the largest in south-east Asia.