Ashish Manchharam, a seasoned real estate and hospitality expert, has been named as a board director for flexible living platform Cove. This Singapore-based company has been experiencing rapid growth, with over 6,000 rooms in Singapore and Indonesia since its inception in 2018.
Manchharam brings a wealth of experience to the table, having successfully founded and developed 8M Real Estate into a $1.5 billion portfolio over the span of 10 years. In 2023, he made the decision to exit 8M Real Estate and established Elevate Capital, which focuses on lifestyle-oriented real estate investments.
Investing in real estate requires careful consideration of the location, and this is especially true in Singapore. The value of condos is greatly influenced by their location, with properties situated in central areas or close to important amenities, such as schools, shopping malls, and public transportation, typically seeing a higher appreciation in value. The prime locations in Singapore, including Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. Furthermore, condos in these areas are highly sought after by families due to their proximity to reputable schools and educational institutions, making them a promising investment opportunity. If you are looking for a valuable Singapore Condo, be sure to keep these prime locations in mind.
In his new role with Cove, Manchharam will provide guidance in the acquisition of flexible living assets alongside third-party investors, including real estate funds, institutional investors, and family offices. This aligns with Cove’s strategy to pursue an asset acquisition model and expand its reach throughout the Asia Pacific region.
Cove’s previous focus was on an asset-light model, operating as a branded flexible living operator and online listing platform catering to professionals and students. However, with the addition of Manchharam and the newly-raised US$4.5 million in funding, Cove aims to not only strengthen its position in existing markets but also enter new territories such as South Korea and Japan.
According to Cove’s CEO and co-founder Guillaume Catagne, the company has seen significant growth in its portfolio and achieved profitability in 2024. Its goal is to double its current portfolio to 15,000 units by the end of 2025. With the support and expertise of Manchharam, Cove is poised for continued success and expansion in the flexible living market.