CapitaLand Investment’s (CLI) wholly-owned The Ascott Limited has signed eight new properties under lyf. The properties are lyf Bugis Singapore; lyf Brickfields Kuala Lumpur and lyf Georgetown Penang in Malaysia; lyf Canggu Bali in Indonesia; lyf on Sussex Sydney in Australia; lyf Shibuya Tokyo in Japan; lyf Frankfurt in Germany as well as an additional property in Shanghai, China.
These properties, which total close to 1,500 units, are scheduled to open over the next four years.
Lyf is currently present in 21 cities around the world with over 5,500 units both operating and in the pipeline.
“The lyf brand has captured the attention of the market with its dynamic designs, flexible spaces and well-curated programming with the community at its core. Owners and investors alike have seen the resilience and continued demand for experience-led social living that lyf has been synonymous with, an accommodation trend that has been made more pronounced post-pandemic and we believe is here to stay,” says Serena Lim, chief growth officer at Ascott.
“lyf is thus well-positioned to cater to this growing interest, availing a brand that is not just conversion-friendly for owners, but also meets the increasing needs of travellers who are seeking the best of all worlds where they are able to mix privacy with social living, combining a space to work, stay and play. The brand’s growth momentum is stronger than ever, and plans are underway to launch across additional key destinations including that in the United Kingdom,” she adds.
As at 9.51am, shares in CLI are trading 1 cent higher or 0.33% up at $3.02.
