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Ascott unveils first property under its new ‘lyf’ coliving brand in Singapore

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CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), today opened lyf Funan Singapore, at an event attended by Human Resources Online.

Located in the heart of Singapore’s Civic and Cultural District, it is the world’s first first property under Ascott’s new ‘lyf’ coliving brand that is managed by Millennials for the Millennials and Millennial-minded.

The nine-storey coliving property spans about 121,000 square feet in gross floor area, and houses 412 rooms across 279 apartments.

Mindy Teo, Deputy Managing Director of lyf, said: “Ascott’s first lyf property, lyf Funan Singapore, is Southeast Asia’s largest coliving property that will shape the future of travel and accommodation. Millennial and Millennial-minded travellers can look forward to a dynamic live-work-play experience given the collaborative spaces, social programmes and strategic location of lyf Funan Singapore.”

lyf Funan Singapore is an integral part of CapitaLand’s Funan integrated development, which also comprises two office blocks and a mall offering cutting-edge retail concepts, coworking spaces, urban farm, and more. The property will have easy access, via a sheltered underground walkway, to the City Hall Mass Rapid Transit (MRT) interchange that is well-connected to the rest of the city.

Teo added: “Residents can plug into the local community and form connections with like-minded trendsetters, jetsetters, business executives, technopreneurs and creatives. A social hub that offers a new way to belong, we see lyf playing a key role in bringing people together to discover new possibilities, spark creative ideas and contribute to the region’s innovation landscape.”

Catering to both short and long stays, lyf Funan Singapore is suitable for leisure and business travellers, expatriates, global assignees as well as digital nomads.

On lyf’s expansion plans, Teo revealed that seven more lyf properties are in the works to be opened over the next three years.

“We will open lyf in Bangkok, Fukuoka, Kuala Lumpur, Singapore, Cebu and Shanghai by 2022. Besides the countries where we have lyf, we are exploring to introduce lyf, via investment, management contracts or leases, to key gateway cities in Australia, France, Germany, Indonesia, Netherlands, South Korea and the United Kingdom,” she said.

Click through the gallery for photos of lyf Funan Singapore:

 

Ascott to open three other properties in 2019

lyf Funan Singapore is the first of Ascott’s record-breaking property openings in Singapore this year.

Other properties slated to open this year are:

  • Citadines Balestier Singapore, in September
  • Ji Hotel Orchard Singapore in September
  • Citadines Rochor Singapore in December

The four new properties will add 846 units to the lodging scene. To meet rising demand for short-stay accommodation, three of the four new properties (lyf Funan Singapore, Ji Hotel Orchard Singapore and Citadines Rochor Singapore) will have the flexibility of taking in daily stays under full hotel licenses.

In addition, this year, Ascott signed an agreement for its first Citadines Connect business hotel in Singapore. This will see Ascott’s total portfolio in Singapore increase to 17 properties over 3,100 units.

Ervin Yeo, Ascott’s Regional General Manager for Singapore, Malaysia and Indonesia, said: “We are on a strong growth trajectory, with our presence in our home market of Singapore expanding by over 60% in the past two years. We have a record opening of four properties this year and another four are expected to open by 2021.

“We are expanding our product offerings in Singapore with new-to-market brands including the ‘lyf’ coliving brand and Citadines Connect, a line of business hotels with select services. Ascott is also managing Huazhu Hotels Group’s first hotel outside of China under its Ji Hotel brand. We are confident that our new properties will appeal to both business and leisure travellers given their excellent locations surrounded by commercial buildings, tourism attractions, and innovative retail hubs.”

Photos / Ascott
Lead image pictures lyf Funan Singapore’s ‘All Together’ six bedroom duplex.



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