,APAC

Ascott to open 17 lyf properties by 2025

The new properties will expand the lyf portfolio to 3,000 units worldwide.

CapitaLand Investment's lodging business unit, The Ascott Limited (Ascott), has expanded its lyf portfolio with the addition of 17 properties.

The expanded portfolio includes the newly opened lyf Mid-Town Hangzhou, the first lyf-branded co-living 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, in June 2021.

CEO for lodging Kevin Goh said, "Ascott constantly innovates to position us for the future, designing products that not only provide unique experiences to customers but also create greater value for our business partners and investors. Our award-winning brands, including lyf, demonstrate our capabilities and commitment to deliver quality real estate assets that our sponsored hospitality trust, Ascott Residence Trust (ART), and our private fund, ASRGF, can invest in."

lyf or 'live your freedom,' is a lodging concept designed for next-generation travellers. The apartments, social spaces and experiential programmes at lyf properties are designed for guests to forge connections and nurture a strong sense of community.

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