Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>We think the student housing sector / PBSA is interesting– the sector is driven by strong drivers including steady university enrolment, rising international student mobility, as well as urbanization</li>
<li>The sector is further characterized by the huge demand/supply imbalance – supply has high entry barriers including high construction costs, inflationary pressures, and complex planning issues</li>
<li>We like XIOR, which is a leading student housing company focused in Europe, on the back of its high asset quality, strategic growth as well as pricing power</li>
</ul>


We think the student housing sector / PBSA is interesting– the sector is driven by strong drivers including steady university enrolment, rising international student mobility, as well as urbanization
The sector is further characterized by the huge demand/supply imbalance – supply has high entry barriers including high construction costs, inflationary pressures, and complex planning issues
We like XIOR, which is a leading student housing company focused in Europe, on the back of its high asset quality, strategic growth as well as pricing power


Student Housing / PBSA: Stable Demand Amidst Demographic Shifts – BUY XIOR

Xior Student Housing

Student Housing / PBSA: Stable Demand Amidst Demographic Shifts – BUY XIOR