WEAVE LIVING JAPAN Co., Ltd.
Weave Living’s latest APAC expansion Establishes JV with BlackRock and acquires property in Singapore
WEAVE LIVING (Headquarters: Hong Kong Special Administrative Region, People’s Republic of China; Founder and Group CEO: Sachin Doshi) is a comprehensive rental housing provider that provides urban furnished rental housing and other services that are leading in the Asia-Pacific region. We are pleased to announce that we have established a joint venture (JV) with a fund managed by BlackRock, the world’s largest asset management company, and acquired our second property in Singapore. This is the 22nd property in the Asia Pacific region.
[Image: https://prtimes.jp/i/120831/3/resize/d120831-3-1b693a61fc4707163f25-0.jpg&s3=120831-3-c444ef772fc4c7a962c9c397a0fb289d-1380×919.jpg] The property acquired by the JV in Singapore is located at 8 Wilkie Road, with access to six MRT stations, a 5-minute walk to the nearest station and 15 minutes to the Business and Financial Center (CBD) and Orchard Road. It is located in After approximately one year of extensive renovations, the property will be reopened as WEAVE SUITES, our modern serviced apartment brand. It has been luxuriously redesigned and is scheduled to open in early 2025. Offering one-room and one-bedroom apartments, we offer excellent service and comfortable living spaces in the scenic surroundings of Wilkie Road. Through this JV, we aim to improve the profitability and asset value of properties through Weave Living’s advanced management and ability to increase asset value.
Comments from Sachin Doshi, Founder and Group CEO of Weave Living: “We are excited about this partnership with BlackRock and to start the year by securing our second property in Singapore. Following the success of our first property acquisition in Singapore last year, WEAVE SUITES – MIDTOWN, Design We have seen a huge demand for highly managed accommodation environments with an emphasis on quality.We look forward to expanding our Weave collection in the Lion City. We welcome BlackRock as our JV partner as we accelerate our pace of expansion and further build out our asset management business for institutional investors.
The JV property acquisition with BlackRock-managed funds underscores our commitment to expand the Weave brand, grow our institutional asset management business, and expand our portfolio of properties in key gateway cities in the Asia Pacific region. It represents. We look forward to further deepening our partnership in rental housing investments with BlackRock and other global investors. We will continue to innovate and provide a differentiated lodging experience, further strengthening our position. ”
Comments from Andrew Lee, APAC real estate director at BlackRock: “Singapore’s housing market is an untapped market with abundant demand and growth potential. We are pleased to partner with Weave Living, a premier operator of differentiated rental housing, providing a unique investment strategy for investors looking for a long-term investment strategy. We will continue to provide value.”
Weave Living’s Asia Pacific property acquisition follows 11 properties acquired in Tokyo over the past three months under its newly launched brand, WEAVE PLACE. This is the second property in Singapore and the 22nd property in a major city in the Asia Pacific region. We will continue to expand as a comprehensive rental housing provider that leads the region.
About Weave Living:
Weave Living was founded in 2017 by Sachin Doshi to meet the demand for beautifully designed and professionally managed residential properties. The company currently operates through four consumer brands: WEAVE STUDIOS, WEAVE SUITES, WEAVE PLACE, and WEAVE
RESIDENCES. , owns and operates rental accommodation properties in the Asia Pacific region. We provide services to a wide range of people, including residents and professionals in major gateway cities. Website: https://www.weave-living.com/en/sg
More details about this release:
WEAVE LIVING JAPAN Co., Ltd.