Ascott Residence Trust1 (ART) is a serviced residence real estate investment trust established with the objective of investing primarily in real estate and real estate-related assets that are income producing are used or predominantly used, as serviced residences or rental housing properties in the Pan-Asian region. Its initial asset portfolio comprises 12 properties in seven Pan-Asian cities. As at December 31, 2006, ART's portfolio comprised 2,304 serviced residence units in 14 properties, located in nine Pan-Asian cities in six countries. During the year ended December 31, 2006, the Company completed the acquisitions of Somerset Olympic Tower Property, Tianjin in China and an effective 40% interest in Somerset Roppongi, Tokyo. In October 2006, ART acquired Smooth Runner Co., Ltd and Somerset Roppongi (Japan) Pte. Ltd. In March 2007, DBS Trustee Limited, as trustee of the Company, completed the acquisition of Makati Property Ventures Inc.
|Industry||Real Estate Investment Trusts|
|Address||No.8 Shenton Way #13-01 Temasek Tower Shenton Way 068811 Singapore|