Singapore
ASCOTT Residence Trust (Ascott Reit) has acquired a prime greenfield site at Nepal Hill in Singapore's research and innovation business hub one-north for S$62.4 million, the company announced on Thursday.
It plans to develop the 60-year leasehold site into the area's first co-living property, managed by the Reit's (real estate investment trust) sponsor, The Ascott, under its co-living brand lyf.
The property, which will be named lyf one-north Singapore and offer 324 units over a gross floor...