SG Property Intelligence CLARA II acquiring Voco Seoul Myeongdong for US$240m

Research evidence excerpt

SG Property Intelligence CLARA II acquiring Voco Seoul Myeongdong for US$240m

J P M O R G A N Asia Pacific Equity Research

22 June 2026

SG Property Intelligence

CLARA II acquiring Voco Seoul Myeongdong for US

$240m

Singapore/ASEAN Property and

REITs

CLI-managed CapitaLand Investment Ascott Residence Asia Fund II AC Terence M Khi

(CLARA II) is acquiring the 576-key Voco Seoul Myeongdong in central Seoul

(65) 6882-1518

for KRW368bn (US$240m), positioning the fund to gain exposure to a stabilised, terence.ml.khi@jpmorgan.com

well-located hospitality asset in a market supported by inbound tourism and AC Mervin Song, CFA

limited new supply. The entry pricing of KRW638.9m (US$0.42m) per key is in (65) 6882-7829

line with recent Myeongdong and Namdaemun benchmarks. With the asset mervin.song@jpmorgan.com

already repositioned from Tmark to Voco and operating metrics reportedly J.P. Morgan Securities Singapore Private Limited/

J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

improving, CLARA II is leaning into clearer near-term income visibility while Morgan Broking (Hong Kong) Limited

retaining upside from sustained footfall recovery in Myeongdong. The deal also

reinforces CLARA II’s ability to deploy capital at size following its final close

above US$650m. (Source: Mingtiandi)

Companies

Temasek appointed Mapletree Investments group CFO Wendy Koh as CFO-

designate effective Aug 1, with Koh set to assume the CFO role on Oct 1.

Incumbent CFO Png Chin Yee will step down from the CFO position on Oct 1 after

nearly four years since her January 2023 appointment, while continuing as

president of Temasek Singapore overseeing the Singapore-based portfolio to drive

performance and long-term value creation. (Source: The Edge Singapore)

Sector