Ascott Residence Trust (Ascott REIT) is a hospitality REIT that owns a portfolio of 73 serviced residences and rental housing properties in 37 cities across 14 countries in Asia-Pacific, Europe, and the United States. As at 31 December 2018, Ascott REIT’s portfolio was valued at S$4.89 billion.
Nowadays, companies are jumping on the bandwagon of targeting Millennials. According to Nielsen Media Research, that’s anyone between the age of 21 and 37 years old (yes, I’m a millennial too). Together we gave birth to the sharing economy. Companies that like WeWork, Grab/Uber, and Kickstarter thrive on our collaborative nature, introducing concepts such as co-working, co-riding, and co-funding. It’s not revolutionary. But one thing is for sure, my ‘co-co’ generation loves it!
Ascott REIT decided to jump on the bandwagon last year, acquiring a prime site at one-north for S$62.4 million which they plan to develop into a 324-unit co-living space
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