Avery Lodge

Morgan Stanley eyes investment potential in foreign workers dorms

Singapore's real estate market has been hit by the global economic slowdown. But financial institution Morgan Stanley believes it has found a prime opportunity in the form of dormitories for foreign workers. The bank's real estate arm manages a fund that holds a majority share in Avery Strategic Investments which owns and operates four dormitories here. They are the Kian Teck Dorm, Woodlands Dorm,...

Businesses cash in on dorm demand

Averic sets out to challenge biggest player in the foreign worker segment TRUST a few good businessmen to sniff out money-spinning opportunities. On the one hand there is Singapore's heavy reliance on foreign workers, and then there is the reluctance of part of the population to share their living environment, as seen with the recent furore in Serangoon Garden estate. But for some this is not so much a...

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