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An announcement from Coliwoo Holdings Ltd. ( (SG:W8W) ) is now available.
Coliwoo Holdings’ subsidiary, Coliwoo Project Ace Pte Ltd, has entered into a put and call option agreement to acquire the leasehold hotel strata lot at 2 Changi Business Park Avenue 1, formerly Park Avenue Changi hotel, from Perpetual (Asia) Limited as trustee of Viva Trust for S$101 million, excluding GST. The asset, located within a key business district and near Changi Airport, is viewed by the Group as having strong potential for conversion into a co-living hotel and is intended to support Coliwoo’s strategy of transforming mature hotel assets into higher-yielding co-living properties, strengthening its foothold in Singapore’s growing co-living accommodation market and potentially enhancing returns for stakeholders.
More about Coliwoo Holdings Ltd.
Coliwoo Holdings Limited is a Singapore-based company listed on the Mainboard of the Singapore Exchange that focuses on co-living solutions. Through its subsidiaries, the Group acquires, repositions and operates hospitality and lodging assets, targeting higher-yielding co-living properties in urban locations with strong, stable tenant demand.
Average Trading Volume: 2,019,616
Current Market Cap: S$288.5M
See more insights into W8W stock on TipRanks’ Stock Analysis page.