Ascott Residence Trust joins FTSE EPRA NAREIT Global Developed Index

By Valerie Kor / EdgeProp Singapore | June 9, 2020 10:52 AM SGT
Citadines Tour Eiffel Paris, one of the 88 properties in ART’s international portfolio (Photo: Citadines)
SINGAPORE (EDGEPROP) - Hospitality trust Ascott Residence Trust (ART) will be included in the FTSE EPRA Nareit Global Real Estate Index Series with effect from June 22.
The index series tracks the performance of listed real estate companies and REITs, and allows investors to identify real estate companies with strong sustainability performance. It is recognised as the leading benchmark for listed real estate investments worldwide.
Beh Siew Kim, CEO of the managers of ART, says that combining with Ascendas Hospitality Trust last year has boosted the scale of the trust and enabled the inclusion into the index. This helps to broaden its reach among global investors and increase ART’s trading liquidity.
“With an enlarged investor base, we will have greater financial capacity to further enhance ART’s portfolio,” she adds.
ART is the largest hospitality trust in Asia Pacific as at Dec 31, 2019, with an asset value of $7.4 billion, comprising Ascott REIT and Ascott Business Trust. ART has been listed on the Singapore Exchange since March 2006 and its objective is to invest in hospitality real estate and real estate-related assets globally.
As at March 2020, ART’s international portfolio comprises 88 properties, with more than 16,000 units in 39 cities across 15 countries. The properties operate under Ascott The Residence, Somerset, Quest and Citadine brands. They are predominantly located in developed cities across Asia Pacific, Europe and the US.
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