Home News Broker's Calls

Ascott’s proposed acquisition of Oakwood to provide CLI with immediate and medium term benefits

Khairani Afifi Noordin
Khairani Afifi Noordin7/5/2022 03:56 PM GMT+08  • 3 min read
Ascott’s proposed acquisition of Oakwood to provide CLI with immediate and medium term benefits
Newly opened Oakwood Premier Melbourne / Photo: Oakwood
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The Ascott’s proposed acquisition of Oakwood Worldwide from Mapletree Investments will provide CapitaLand Investment (CLI) with immediate fee contribution as well as potential to drive further revenue and operational strategies, said CGS-CIMB Research analyst Lock Mun Yee.

Oakwood is a leading global serviced apartment provider with a presence in more than 15 countries, Lock explains. Its portfolio comprises 81 properties with about 15,000 units under management. Oakwood’s flagship properties include Oakwood Premier Tokyo and Oakwood Coex Center Seoul.

The transaction — which is slated to complete in 3QFY2022 — should enhance Ascott’s stable of lodging offerings with exposure to new markets such as Cheongju in South Korea, Zhangjiakou and Qingdao in China, Dhaka in Bangladesh, and Washington DC in the US, said Lock.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.