CapitaLand Ascott Trust divests Tianjin property at above book value
After the divestment, CLAS will only have four properties in China.
CapitaLand Ascott Trust (CLAS) has divested Somerset Olympic Tower Tianjin in China at above book value.
CLAS expects to complete the divestment of the 185-unit property in Q2 2025.
After the divestment, CLAS will only have four properties in China.
CLAS said the asset's divestment "will have minimal impact on our gross profit."
The trust's China portfolio contributed 1.4% to its gross profit in H1 2024.