CapitaLand Ascott Residence Asia Fund II, a value-added private accommodation fund under CapitaLand Investment, has received new investment commitments from existing and new institutional investors, showing that investors continue to support the fun...
CapitaLand Ascott Residence Asia Fund II, a value-added private accommodation fund under CapitaLand Investment, has received new investment commitments from existing and new institutional investors, showing that investors continue to support the fund's investment strategy.
The statement disclosed that hotels and accommodation will be converted into service apartments and facilities will be improved to enhance the guest experience and improve the profitability and value of real estate. Ascott will manage the 179-room serviced apartment with a goal of launching in the second half of 2026.
According to the latest investment commitment, the funds managed by CapitaLand Investment will increase by 470 million yuan. CapitaLand Investment holds a 20% stake in CLARA II as part of its asset light strategy and is aligned with its capital partners.
Wu Xunjie further pointed out that the service apartment adopts a flexible hybrid model, which can meet the accommodation needs of different time periods, bringing unique advantages to the group. Long-term customers provide stable income, while short-term customers can grasp the increase and optimize income.
"The market chaos in the hotel industry has also created more opportunities for value-added and repositioning under the influence of global uncertainties. By leveraging the brand reputation, global sales and marketing network of Ascott, the accommodation business unit invested by CapitaLand, we can increase the value of the property assets under the Accommodation Fund and provide quality returns."
Capitaland Investment Hotel CEO Wu Xunjie said in a statement that through CLARA II, the group will focus on renovation and reconstruction to maximize the value of assets.
Capital Investment established CLARA II in February last year to invest in serviced apartments and shared housing real estate in major developed market portal cities in the Asia-Pacific region.
CLARA II and co-investors have acquired a comprehensive real estate project in Shinjuku, Tokyo, Japan for 30 billion yen (about 267 billion SGD). This is the fund's third asset and the second project in Japan. This project covers hotels, accommodation and annex office buildings and retail spaces.
