Ascott Reit's manager is hunting for more properties

But unit holders must first approve merger with Ascendas Hospitality Trust which will create stable income: CEO

Chief executive Beh Siew Kim of Ascott Residence Trust Management sees a lot of growth potential in the mid-tier market, which addresses the travel needs of the rising middle-income class. "With interest rates coming down, and central banks still low
Chief executive Beh Siew Kim of Ascott Residence Trust Management sees a lot of growth potential in the mid-tier market, which addresses the travel needs of the rising middle-income class. "With interest rates coming down, and central banks still lowering their interest rates, that gives us a lot of opportunity to acquire assets in an accretive manner for unit holders," she said. ST PHOTO: ONG WEE JIN
Grace Leong
Senior Business Correspondent
Updated
Oct 07, 2019, 05:25 AM
Published
Oct 07, 2019, 05:00 AM
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Armed with a $1 billion war chest and tapping a still-low interest rate environment, Ascott Residence Trust (Ascott Reit) is on the hunt for more properties that cater to corporate travellers in Europe and the Asia-Pacific region, where demand is supported by a rising middle class.

But unit holders must first vote in favour of the merger of Ascott Reit and Ascendas Hospitality Trust (A-HTrust) at an extraordinary general meeting on Oct 21.

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A version of this article appeared in the print edition of The Straits Times on October 07, 2019, with the headline Ascott Reit's manager is hunting for more properties. Subscribe

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