OPERATIONS REVIEW JAPAN 32 PROPERTIES S$52.3 million TOTAL GROSS PROFIT (FY 2023) S$1,286.5 million VALUATION (as at 31 December 2023) S$79.0 million TOTAL REVENUE (FY 2023) 5,630 UNITS Sotetsu Grand Fresa Tokyo-Bay Ariake KEY MARKET 1 Excluding Teriha Ocean Stage, the acquisition of which was completed in January 2024. Japan is one of CLAS’ key markets which contributed 16% to the total gross profit for FY 2023. As at 31 December 2023, CLAS owns 32 freehold properties in Japan. Three hotels and one student accommodation property are under master leases. The rest of the Japan portfolio which consists of three serviced residences, two hotels and 23 rental housing properties, are under management contracts. In 2023, CLAS completed two turnkey acquisitions of rental housing properties – Eslead Residence Osaka Fukushima East in Osaka, and Granfore Hakata Waterfront in Fukuoka. MASTER LEASES Sotetsu Grand Fresa Tokyo-Bay Ariake is a 912-unit hotel located within the Tokyo Secondary City Centre in close proximity to Big Sight, a major international convention centre, Ariake Colosseum and retail options. Sotetsu Grand Fresa Osaka-Namba is a 698-unit hotel centrally located in Namba, Osaka. The 182-unit Hotel WBF Honmachi is located in the Honmachi district of Osaka. Eslead College Gate Kindaimae is CLAS’ first and only student accommodation property in Japan. It is a seven-storey building comprising 112 studio apartment units, located in close walking proximity to the main campus of Kindai University in Osaka. The master leases have remaining lease terms varying between one to 13 years. MANAGEMENT CONTRACTS Citadines Central Shinjuku Tokyo, a 206-unit serviced residence, and Citadines Shinjuku Tokyo, a 160-unit serviced residence, are both located in the bustling entertainment district of Shinjuku. Citadines KarasumaGojo Kyoto is a 124-unit serviced residence located close to the Gojo subway station, and the business district and entertainment areas of Kyoto. The three serviced residences have an average length of stay of less than a month. The 168-unit Hotel WBF Kitasemba East and 168-unit Hotel WBF Kitasemba West are situated in the Honmachi district of Osaka, in close proximity to Hotel WBF Honmachi. CLAS’ 23 rental housing properties1 are located across eight cities – Fukuoka, Hiroshima, Hyogo, Kyoto, Nagoya, Osaka, Tokyo and Sapporo. All the properties are conveniently located close to public transportation and other lifestyle amenities. The rental housing properties have an average length of stay of over 12 months. 36 CAPITALAND ASCOTT TRUST
RkJQdWJsaXNoZXIy NTkwNzg=