CapitaLand Ascott Trust (CLAS) achieved an 80% increase in gross profit for 2H 2022 to S$164.6 million compared to 2H 2021. This was mainly attributed to higher revenue from CLAS’ existing portfolio and contributions from its expanded portfolio of longer-stay assets, comprising student accommodation and rental housing properties in the United States of America (USA) and Japan, newly acquired serviced residences in Australia, France and Vietnam, as well as from lyf one-north Singapore which soft opened in 4Q 2021. On a same-store basis, gross profit for 2H 2022 increased by 67% compared to 2H 2021.