Ascott will open six new properties for its co-living brand Lyf in Australia, China and the Philippines.
The Singapore-based service residence company says it continues to see strong demand for its co-living brand Lyf which aims to cater “to a growing segment of millennials who seek flexibility, value and enriching community experiences”.
Lyf Collingwood Melbourne
Ascott has added over 1,000 units across six new Lyf properties secured in Melbourne, Australia; Beijing, Hangzhou, Shanghai and Xi’an, China; and Manila, the Philippines.
The company has secured contracts for Lyf Malate Manila, its second Lyf property in the Philippines and four new Lyf properties across China – Lyf Shougang Park Beijing, Lyf Midtown Hangzhou, Lyf Zhangjiang Shanghai and Lyf Dayanta Xi’an. It has also secured its first Lyf property in Australia, Lyf Collingwood Melbourne.
Lyf Midtown Hangzhou
“Despite Covid-19 and challenges in the global hospitality industry, Ascott’s diverse portfolio of brands continues to be supported by a strong base of long-stay guests comprising locals, expatriates and corporates. Our guests appreciate the comfort of our apartments where they can live and work,” said Kevin Goh, CapitaLand’s chief executive officer for Lodging and Ascott’s chief executive officer.
Lyf Sukhumvit 8 Bangkok
With the addition of six new Lyf properties, Ascott has a total of 14 Lyf properties with over 2,700 units.
“Creatively designed and multi-functional living spaces at Lyf offer more flexibility and efficiency for our guests, many of whom were expected to work remotely. Lyf apartments can be easily adapted into private work suites with flexible tenures,” said Joel Oei, Ascott’s head of Lyf brand.