• Ascott to Develop Student Accommodation in South Carolina, USA

    (16 Jun 2021)
    Ascott and its hospitality trust, Ascott Residence
    Trust (ART), are to invest and develop a freehold student
    accommodation asset located in South Carolina, USA for an expected
    total amount of US$109.9 million (S$146.2 million).

    The 678-bed
    student accommodation will serve over 35,000 undergraduate and
    graduate students from the nearby University of South Carolina
    (USC).

    Construction of the student accommodation is
    scheduled to start in Q2 2021 and complete in Q2 2023.

    At the initial stage, Ascott and ART will jointly
    invest in the asset to own a 45% stake each. A third-party partner,
    which is a joint

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