CAPITALAND's serviced residence arm, The Ascott Ltd, has secured contracts to manage 14 properties with over 2,000 units acrosseight countries, the group announced on Tuesday.Three of the 14 new properties are under its co-living 'lyf' brand. They will be located in Fukuoka, Japan; Kuala Lumpur, Malaysia; and Shanghai, China.
With these three new additions, Ascott has eight lyf properties with over 1,600 units under development in Singapore, China, Japan, Malaysia, Thailand and the Philippines.Said Ascott’s CEO, Kevin Goh:"Demand for our lyf-branded co-living properties is gaining ground. We are bringing lyf to Fukuoka, Kuala Lumpur and Shanghai as the buzzing start-up ecosystems in these cities have given rise to a popular culture of living and co-creating as a community among the millennials.
In its press statement on Tuesday, Ascott noted that the addition of the 14 new properties marks its first foray into Changchun, the second largest city in North-east China.
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