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Property

Ascott Reit and Ascendas Trust to merge to create $5.6bn hospitality trust

Combined entity organizes an enlarged portfolio across Asia, Europe and US

CEBU, Philippines -- Singapore-listed real estate investors Ascott Resident Trust (Ascott Reit) and Ascendas Hospitality Trusts (A-HTRUST) have announced a merger proposal to potentially create Asia Pacific's largest hospitality trust with an asset value of S$7.6 billion ($5.6 billion).

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