Ascott buys into London property via joint fund with Qatar

Singapore

CAPITALAND'S serviced residence business unit, The Ascott, is investing £52 million (S$100.4 million) in a 108-unit property in Islington, London through its joint fund with Qatar Investment Authority (QIA).

The purchase will be the third in less than five months by the 50:50 US$600 million fund set up last July. The fund invests in serviced residences and rental housing properties with an initial focus on Asia Pacific and Europe.