Currently, Weave Living's projects in Singapore span Bugis, Mount Sophia and Canada.
Weave Living provides rental services in major cities in the region. Following the above acquisition, the company's operating properties in Singapore will increase to about 500, and its overall local asset portfolio will also exceed 500 million yuan. "This acquisition further accelerates our layout in Singapore and its expansion in the Asia-Pacific region."
BlackRock also said in a statement: "We are confident in the living and accommodation sectors in Singapore and have actively made plans and invested in the past 18 months."
He also said: "With strong project reserves and growing asset management scale, we will continue to redefine the urban living experience in the Asia-Pacific region."
Hong Kong-based real estate company Weave Living, a fund under BlackRock and Lian Beng Group, jointly invested more than 100 million yuan to purchase a freehold apartment located at 12 Shan Road.
The above apartment is located between Novena and Marista, close to several medical facilities and shopping centers.
Weave Living issued a statement on Monday (May 26) that it will build the above-mentioned apartment into a serviced residential project called Weave Suites - Novena, with a total of 99 units. The apartment also includes health facilities, children's playgrounds, swimming pools, public courtyards, etc., and is expected to be completed next year.
Weave Living founder and president Sachin Doshi pointed out that the new project is expected to attract long-term residents, tourists, business travelers, corporate customers who value spacious spaces and hope to be in the heart of the city.