Lodging units under management
Capital Recycled YTD 2022
A GLOBAL PLAYER WITH STRONG ASIAN PRESENCE
CapitaLand Investment’s footprint spans more than 200 cities in over 30 countries, with long-standing presence and extensive real estate experience in its core markets of Singapore, China and India.
- Includes business parks, industrial, logistics, and data centres
- Includes multifamily
- Includes Australia, Japan, South Korea, Malaysia, Vietnam, Indonesia, Thailand, Phillipines and other Asian countries
- Includes USA, UK, Europe and other non-Asian countries
- Includes residential & commercial strata which comprises 0.3% of total RE AUM and not reflected in chart
- Includes residential & commercial strata as well as structured credit FUM, which comprises 0.7% of total FUM and not reflected in chart
LODGING UNITS UNDER MANAGEMENT
CLI’s lodging portfolio is focused in the longer-stay segment and well diversified geographically. More than 80% of the total units within the portfolio are under asset-light management contracts and franchise deals.
|By Ownership||YTD Mar 2022||YTD Mar 2021|
|Managed and franchised||106,800||98,800|
|By Geography||YTD Mar 2022||YTD Mar 2021|
|Middle East & Africa3||5,600||5,300|
|By Lodging Type||YTD Mar 2022||YTD Mar 2021|
Refers to Southeast Asia & Australasia. Includes 4,100 units (YTD Mar 2022) and 4,000 units (YTD Mar 2021) in Singapore
Includes 38,200 units (YTD Mar 2022) and 33,000 units (YTD Mar 2021) in China
Includes Turkey and India
Comprises 5,298 beds in operating and development properties
DISCIPLINED CAPITAL RECYCLING
CLI believes in disciplined capital recycling across the Group to ensure relevance of the overall portfolio and to unlock value. Our target – a gross amount of S$3 billion annually, to be collectively executed via CLI and our sponsored vehicles.
FY 2022 Capital Recycling on Track
- As at 11 May 2022.
- Total gross investment value based on agreed property value (100% basis) or purchase/ investment consideration.
- Total gross divestment value based on agreed property value (100% basis) or sales consideration.
CICT and COREF to acquire Singapore’s Grade A office building 79 Robinson Road for S$1.26 billion
CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Open End Real Estate Fund (COREF), a newly established discretionary fund managed by CLI, are buying 79 Robinson Road, a Grade A office building in the Tanjong Pagar sub-market of Singapore’s central business district (CBD) through acquiring 70% and 30% respectively of the shares of the property holding company, Southernwood Property Pte Ltd (SWP). This is a special purpose vehicle in which CLI has a 65% stake and a joint venture between wholly owned subsidiaries of Mitsui & Co., Ltd. and Tokyo Tatemono Co., Ltd. holds the remaining 35%. SWP will be converted to a limited liability partnership following completion of the acquisition.
Ascott establishes a new student accommodation development venture (named SAVE) with Riyad Capital
CLI’s wholly owned lodging business unit, The Ascott Limited (Ascott) has established a development venture totalling US$150 million (S$204.8 million) in committed equity to develop student accommodation assets in the USA.
Ascott acquires two properties in Ningbo and Amsterdam for about S$190 million through its serviced residence global fund
CLI’s wholly owned lodging business unit, The Ascott Limited (Ascott) invested in two properties in Ningbo, China and Amsterdam, the Netherlands for approximately S$190 million through Ascott Serviced Residence Global Fund (ASRGF), Ascott’s private equity fund with Qatar Investment Authority.
CLI divests 79 Robinson Road in Singapore to CICT and COREF for S$1.26 billion
CLI and its joint venture partners for 79 Robinson Road – Mitsui & Co., Ltd. and Tokyo Tatemono Co., Ltd. – have entered into agreements to divest their 100% interest in the property to CLI-sponsored investment vehicles CapitaLand Integrated Commercial Trust (CICT) and CapitaLand Open End Real Estate Fund (COREF).
CICT divests JCube in Singapore for S$340M
CapitaLand Integrated Commercial Trust (CICT) completed its divestment of JCube in March 2022,for a consideration of S$340 million, at an NPI yield of less than 4%. JCube, which is located at 2 Jurong East Central in Singapore, is one of CICT's three malls in the Jurong East region and its smallest by net lettable area. This divestment is part of its portfolio reconstitution strategy to unlock value and re-invest the proceeds into other higher yield investment opportunities.