Chayadi Karim, principal of Invictus Developments, aims to build a total $1 billion property ... [ ] portfolio, with a focus on the hospitality sector, within five years till 2028.

Indonesian palm oil billionaire Bachtiar Karim’s Singapore-based property arm Invictus Developments has made its maiden venture into the booming Japanese hospitality industry with the acquisition of Lyf Ginza Tokyo.

Invictus is buying the co-living space from the Ascott Serviced Residence Global Fund—a joint venture company between Singapore-based CapitaLand Investment’s hospitality unit The Ascott Limited (Ascott) and Qatar Investment Authority—for 10,5 billion........

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