BELGIUM 2 PROPERTIES S$5.7 million TOTAL GROSS PROFIT (FY 2023) S$74.5 million VALUATION (as at 31 December 2023) S$17.4 million TOTAL REVENUE (FY 2023) 324 UNITS Citadines Toison d’Or Brussels CLAS owns two freehold serviced residences in Brussels, Belgium. Both properties are under MCMGI, and they have an average length of stay of less than a month. Citadines Sainte-Catherine Brussels is a 169-unit serviced residence located within a bustling neighbourhood of cafes, restaurants and shops, on the edge of Brussels’ historic centre. It is also near the main business area and Grand Place, the city’s central square and a UNESCO World Heritage Site. Citadines Toison d’Or Brussels is a 155-unit serviced residence situated in the shopping district of Avenue Louise, close to the Royal Palace and major embassies. In FY 2023, the performance of both properties exceeded the minimum guaranteed levels. RevPAU of the Belgium portfolio grew 52% YoY in EUR terms, due to higher ADR, on the back of continued recovery from COVID-19. In 4Q 2023, RevPAU was 109% of prepandemic levels. GROSS RENTAL INCOME (EUR'000) FY 2023 FY 2022 Citadines Sainte-Catherine Brussels 6,166 4,914 Citadines Toison d’Or Brussels 5,275 2,806 REVENUE PER AVAILABLE UNIT (EUR) FY 2023 FY 2022 Citadines Sainte-Catherine Brussels 100 78 Citadines Toison d’Or Brussels 91 48 ANNUAL REPORT 2023 55 Overview Leadership Portfolio & Performance Sustainability & Governance Financial Statements and Other Information
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