Singapore: Ascott parent company CapitaLand is set to roll out its co-living brand across Asia.
Four months after launching its first lyf-branded property in Singapore, Ascott is planning another seven co-living properties.
Over the next three years, the lyf brand will expand to include two more properties in Singapore and one each in Bangkok, Kuala Lumpur, Cebu, Fukuoka and Shanghai.
Mindy Teo, Ascott’s deputy managing director, said Ascott’s goal is for lyf to account for around 10 per cent of the company’s overall portfolio in the medium term.
Lyf Funan, which opened in September, is located within Singapore’s central business district and has 412 rooms across 279 apartments. Ascott describes it as the largest co-living property in south-east Asia. Room sizes vary from 18-square-metre studios to 70- square-metre four-bedroom apartments.
The shared spaces in the property include a large communal kitchen, a laundromat, a gym and space for talks and workshops.
Teo said that lyf will offer stays for as short as a night, differentiating it from most co-living space providers, which offer rooms for at least a month or longer.
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