CapitaLand Investment’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is to expand its lyf portfolio to a total of 17 properties, with over 3,000 rooms in 13 cities and nine countries.
The expanded portfolio includes the newly opened lyf Mid-Town Hangzhou, Ascott’s first lyf-branded coliving property in China. It also secured a management contract for its second lyf property in Thailand, lyf Riverside Bangkok. This follows hot on the heels of Ascott’s recent acquisition of its first lyf property in Europe, livelyfhere Gambetta Paris, through its private fund Ascott Serviced Residence Global Fund (ASRGF) in June 2021.
lyf or ‘live your freedom’, is a lodging concept designed for the next-generation travellers. The apartments, social spaces and experiential programmes at lyf properties are designed for guests to forge connections and to nurture a strong sense of community. To date, Ascott has opened four lyf properties in Singapore, Bangkok, Fukuoka and Hangzhou. Three more are slated to open later this year in Singapore, Xi’an and Shanghai – lyf one-north Singapore, as well as lyf Dayanta Xi’an and lyf Hongqiao Shanghai in China. Between 2022 and 2025, 10 more lyf properties are slated to open in Bangkok, Beijing, Cebu, Danang, Kuala Lumpur, Manila, Melbourne, Paris, Shanghai and Singapore.
