Key Market Japan Japan is one of CLAS’ key markets which contributed 16% to the total gross profit for FY 2024. As at 31 December 2024, CLAS owns 28 freehold properties in Japan. Two hotels and a student accommodation property are under master leases. The rest of the Japan portfolio which consists of two serviced residences and 23 rental housing properties, are under management contracts. In 2024, CLAS completed a turnkey acquisition of a 258-unit rental housing property in Fukuoka, Teriha Ocean Stage, located in Island City and in close proximity to both Tenjin, the commercial and entertainment district, and Hakata, Fukuoka’s business hub. CLAS also divested three hotels in Osaka (Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF Kitasemba West), a serviced residence in Kyoto (Citadines Karasuma-Gojo Kyoto) and a rental housing property in Fukuoka (Infini Garden). 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. Eslead College Gate Kindaimae is CLAS’ only student accommodation property in Japan. It comprises 112 studio apartment units and is within walking distance to the main campus of Kindai University in Osaka. The master leases have remaining lease terms varying between one to 12 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. The two serviced residences have an average length of stay of less than one month. CLAS’ 23 rental housing properties 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. Properties 28 Total Revenue (FY 2024) S$85.6M Total Gross Profit (FY 2024) S$58.3M Units 4,857 Valuation (as at 31 December 2024) S$1,123.9M Featured property: Citadines Shinjuku Tokyo, Japan 31 Annual Report 2024
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