The rapid transformation of the political environment in Myanmar has spurred an even more rapid surge in economic activity and the serviced apartment sector will continue to benefit from the influx of new businesses because of a scarcity of quality housing for expatriate businessman and professionals. According to the Asian Development Bank (ADB), Myanmar’s economy grew by 6.3 per cent last year,...
Service Apartment
Going green has its rewards, especially for Treetops Executive Residences, managed by DTZ Debenham Tie Leung Hospitality Management Services. It has won them the prestigious Green Mark Gold Award, an accolade awarded by the Building and Construction Authority (BCA). Treetops is the first building under the service apartment industry category to receive this accolade. Beyond meeting the stringent criteria...
Emerging markets are a part of its expansion plan Frasers Hospitality, Asia’s second-biggest serviced-apartment operator behind CapitaLand’s Ascott Group, is in talks to set up private equity funds to invest in China, India and South-east Asia after delaying its planned share sale. The company, which expanded its portfolio eight-fold to 3,287 apartment units in the past decade, is raising funds for...
CapitaLand’s offer to buy the remaining shares of its 67-per-cent unit, The Ascott Group, at $1.73 apiece represents a decent exit price for minority owners of the luxury residences operator, according to CIMB, who said the price “is a fair valuation from a historical perspective, but attractive in the current environment of heightened risk aversion”. Stock markets worldwide have been rocked in...