Operations Review CLAS owns a freehold serviced residence in Barcelona, Spain. The 131-unit property operates under a MCMGI and has an average length of stay of less than a month. Citadines Ramblas Barcelona is located on the La Rambla boulevard, an iconic entertainment district, and is a few metres away from Plaza Catalunya, one of the most visited destinations in Barcelona. The property enjoys good connectivity, with access to three metro stations, and is close to the main business areas of the city, making it a prime location for both business and leisure travellers. Spain GROSS RENTAL INCOME (EUR’000) REVENUE PER AVAILABLE UNIT (EUR) FY 2024 FY 2023 FY 2024 FY 2023 Citadines Ramblas Barcelona 7,133 6,769 139 133 Property 1 Total Revenue (FY 2024) S$10.7M Total Gross Profit (FY 2024) S$5.2M Units 131 Valuation (as at 31 December 2024) S$72.5M In FY 2024, the performance of Citadines Ramblas Barcelona exceeded the minimum guarantee. RevPAU of the property grew by 5% YoY in EUR terms, mainly due to higher ADR. Featured property: Citadines Ramblas Barcelona, Spain 48 CapitaLand Ascott Trust
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