Hybrid event

07 Jun 2022 @ Singapore

First member sponsored HYBRID event is successfully held in Singapore on 7 June 2022, members in Singapore joined us in person at Ascott's property and overseas members enjoyed the session via Zoom. 

At this session, a panel of experts from The Ascott Limited, PGIM Real Estate, Kasa Singapore and Colliers International discussed on the extended stay & co-living segment from the perspective of an owner, operator and investor. The discussion covered latest insights and investment trends for serviced residence and co-living across Asia-Pacific and Europe.

The session concluded with an in-person guided site tour of Citadines Raffles Place Singapore, a newly opened serviced residence managed by The Ascott Limited.



Tuesday 07 June 2022


16:30-18:30 (SG, UTC+8)


CapitaSpring / Citadines Raffles Place - Level 20, 88 Market St. Singapore 048948

Slides and recording

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  • [Slides] Investing in extended stay/coliving concepts-perspectives from owner, operator and investorPDF
    [Recording] Investing in extended stay/coliving concepts-perspectives from owner, operator and investorVIDEO


Govinda Singh
Executive Director - Asia
Colliers Valuation & Advisory Services

Govinda, a chartered accountant and surveyor, began his career at Pricewaterhouse in audit and assurance. Having worked as an Operations Manager for Hilton, he was the Financial Controller at the luxury Lanesborough Hotel, at which time he worked closely with the Rosewood and Starwood hotel groups at both the local and corporate level in internal audit and brand development. Govinda joined PKF in London where he was a Managing Consultant. With PKF’s merger with BDO, he joined the Management Consulting team, where he was a Director responsible for the EMEA, Caribbean and Asia-Pac regions specifically focusing on real estate, tourism and hospitality consulting and valuation. Govinda later joined Cushman & Wakefield Singapore in 2015 where he was a Director leading the Asia-Pac Hotels & Leisure Valuation and Advisory team. Having previously led the Singapore Valuation and Consulting teams, and the specialist Plant & Machinery team, he remains an Executive Director at Colliers International now leading the Hotels & Leisure team across Asia. He advises on, and values businesses, land and property investments involving specialist and alternative asset classes across Asia and further afield.
Govinda has extensive experience in real estate consulting and valuation, which includes 20 years of specialist experience in the urban regeneration, mixed-use, hotels, gaming, tourism, and hospitality and leisure industries in particular. Over this time, he has undertaken numerous assignments including accounting, financial and commercial due diligence assignments, dispute resolution, operating company /property company structuring, market demand and feasibility studies, property and business valuations, strategic and internal business reviews, operator searches, asset management, tourism studies, economic impact and needs assessments.

MAK Hoe Kit
Managing Director - Lodging PE Funds, CapitaLand Investment Limited & Head of Business Development
The Ascott Limited

Mak Hoe Kit has over 24 years of investment experience in investments and asset management, particularly in real estate and private equity. He joined Ascott in January 2019 as the Managing Director of Ascott Global Serviced Residence Fund, a US$600 million serviced residence fund with the Qatar Investment Authority to invest in serviced residences globally. Hoe Kit is also concurrently the Head of Business Development responsible for charting the global growth of the company.
Prior to Ascott, he was with Frasers Hospitality as the Chief Investment Officer responsible for the growth of the hospitality investments and management contracts globally. Before that, he was Executive Director – Real Estate in Northstar Group; and Executive Director and Co-Leader - Real Estate in Ernst & Young. He spent 5 years with Pacific Star Group as the Senior Vice President responsible for the Asia Real Estate Income Fund, a €500 million value-add fund. During this period, he was instrumental in various real estate investments in Asia and successfully divested them. Hoe Kit started his career in NatSteel Group, a diversified conglomerate where he grew in the job for 7 years and was involved in various investments, strategic planning, M&A, restructuring as well as bringing private subsidiary companies to IPO.
Hoe Kit is a Chartered Financial Analyst (CFA). He holds a Master of Science in Real Estate and Bachelor of Engineering (Honours) from the National University of Singapore. He is an active volunteer with the CFA Institute.

David Fassbender
Head of Southeast Asia
PGIM Real Estate

David Fassbender is a managing director at PGIM Real Estate and Head of Southeast Asia, in addition to his role as Senior Portfolio Manager for PGIM Real Estate’s Asia-Pacific  value add fund series. He is a member of the Asia Pacific Executive Committee and Investment Committee.  

David has 20 years of diverse experience in real estate which includes the structuring and management of real estate funds, acquisition and disposition of major assets and property development. To date he has been involved in equity and debt transactions totaling over USD3 billion at PGIM Real Estate.

David joined PGIM Real Estate in 2002 in its closed-end U.S. fund business. He subsequently worked in the portfolio management team of an open-end fund, where he was responsible for North America and Asia, before joining the Asia-Pacific value-add fund team in 2007. As part of his role he relocated to Singapore in 2011 where he continues to be based.

David holds a master’s degree in economics from the University of Cambridge and a certificate in real estate portfolio management from the European Business School (EBS), Oestrich-Winkel. He is fluent in German and English.

Tan Kok Keong
Chief Business Officer
Kasa Singapore

Kok Keong has more than 25 years of experience in real estate, where he has done city planning, real estate development, equity research, and real estate investments in the Asia-Pacific region. His past employers include the Urban Redevelopment Authority, Merrill Lynch, Pacific Star Holdings, and Orangetee. In the past decade, he has co-founded 3 companies, one of which launched Asia's first real estate tokenization platform in 2017. At present, he is the Chief Business Officer at Kasa. Kasa is an innovative real estate tokenization platform that was launched in Korea in 2018 that is licensed in Singapore for capital raising and operating an exchange and has successfully tokenized USD40m worth of commercial real estate.

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