Ascott Reit eyes portfolio size of S$6b by 2017

Singapore

ASCOTT Residence Trust (Ascott Reit) is looking for accretive acquisitions in key gateway cities in Asia-Pacific and Europe, as it seeks to raise its portfolio size from the current S$4.1 billion to S$6 billion by 2017.

Ronald Tay, chief executive of trust-manager Ascott Residence Trust Management Limited (ARTML), said the Reit will consider opportunities from the sponsor The Ascott Limited, which is the serviced residence arm of CapitaLand, and third parties.