SINGAPORE (Dec 10): Katrina Group, the F&B group, is acquiring the entire issued share capital of Straits Organization, a provider of affordable and diverse accommodations for a consideration of $358,000.

Founded in Dec 2017, Straits Organization provides accommodation solutions targeted at millennial travellers, corporate expatriates, medical tourism and new market segments such as technopreneurs. It currently manages approximately 125 units in 15 different apartments and condominiums across Singapore.

It has received acceptance from two landlords to convert the space into co-living hotels – one in Tanjong Pagar and another along South Bridge Road. Straits Organization is also currently negotiating two more potential locations in Singapore and Hong Kong.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook