OPERATIONS REVIEW SINGAPORE 51 PROPERTIES S$28.8 million TOTAL GROSS PROFIT (FY 2023) S$1,331.8 million VALUATION (as at 31 December 2023) S$68.6 million TOTAL REVENUE (FY 2023) 1,2262 UNITS The Robertson House by The Crest Collection KEY MARKET Singapore contributed 8% of CLAS’ total gross profit for FY 2023. As at 31 December 2023, CLAS has five properties in Singapore. There are two serviced residences and a hotel under management contracts, as well as a serviced residence under MCMGI. The remaining serviced residence, Somerset Liang Court Property Singapore, is currently under development and expected to be completed in 2H 2025. MANAGEMENT CONTRACTS CLAS has two serviced residences and a hotel under management contracts. Citadines Mount Sophia Property Singapore comprises 154 units. The 96-year leasehold serviced residence is situated in the heart of Singapore's arts, culture, learning and entertainment hub, with easy access to Orchard Road and the CBD. lyf one-north Singapore is situated in one-north, a prominent research, innovation, and business district, and caters to the technopreneurs and business schools in the area. The 324-unit leasehold coliving property soft-launched in November 2021 and obtained its final Temporary Occupation Permit in January 2022. The Robertson House by The Crest Collection (TRH), formerly known as Riverside Hotel Robertson Quay, is a 336-unit leasehold hotel located in the Clarke Quay entertainment precinct. The hotel was under a phased renovation since March 2023, and was rebranded as The Crest Collection, a luxury brand managed by The Ascott Limited in October 2023. The renovation was fully completed in 1Q 2024. Situated along the Singapore River, the hotel is well-connected to Orchard Road and the CBD, and offers guests a unique experience with its colonial charm. MANAGEMENT CONTRACT WITH MINIMUM GUARANTEED INCOME Ascott Orchard Singapore is a 220-unit leasehold serviced residence located in the prime Orchard entertainment and commercial district, with easy access to the CBD via the Orchard and Somerset MRT stations. The property was formerly under a master lease before the lease expired in November 2022 and was converted to a MCMGI thereafter. Collectively, the properties under management contracts and MCMGI have an average length of stay of about two months. 1 Includes Somerset Liang Court Property Singapore, which is currently under development. 2 Includes the 192-unit Somerset Liang Court Property Singapore, which is currently under development. Number of units may be subject to change. 40 CAPITALAND ASCOTT TRUST
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