A UN-backed report warns of a global 'structural crisis' as skyrocketing rents and property speculation push over a billion people into substandard living

THE Ascott Ltd, the wholly- owned serviced residence arm of Singapore’s CapitalLand, is acquiring an 80 per cent stake in Synergy Global Housing for US$33.7 million (S$46.7 million), thereby tripling Ascott's portfolio in the United States from more than 1,000 units to about 3,000 units.