Summary:
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Far East Orchard is targeting to reach assets under management (AUM) of $3 billion in core assets by 2050, up from $2 billion in 2025. The group is also aiming to reach 25,000 rooms and 85,000 beds in five years’ time, up from its current 17,500 rooms and 55,000 beds as at November this year.
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The bed count includes the group’s stake in Homes For Students (HFS), a student accommodation provider in the UK. Far East Orchard had just brought its interest to 84% after completing the second stage of the phased acquisition in September. In its Nov 24 announcement, the group says it will focus on its hospitality, purpose-built student accommodation (PBSA) portfolio and funds as growth drivers.
- Under PBSA, the group aims to grow its fee-based business through the HFS operator platform and expand into the build-to-rent and co-living sectors in the UK and Europe. The group also aims to optimise and recycle capital within its UK PBSA portfolio.
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