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Ascott targets 150 lyf coliving properties by 2030
Investors - APRIL 12, 2022

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Ascott targets 150 lyf coliving properties by 2030

by Released

CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited, has set a target to sign 150 properties with more than 30,000 units under its lyf coliving brand by 2030.

“A unique lodging product in a class of its own, Ascott developed lyf as a solution that combines the best of serviced residences, hotels and coliving apartments. We have opened seven lyf properties in Singapore, China, Japan and Thailand to date,” said Kevin Goh, CLI’s CEO for Lodging. “Our first lyf property, lyf Funan Singapore, achieved an 80 percent occupancy level within three months of its opening in September 2019. lyf one-north Singapore welcomed our first guest in November 2021, and we have already achieved a strong occupancy rate of above 85 percent today. We see the potential to expand our lyf portfolio to 150 properties by 2030. In addition to growing the lyf brand via management contracts, we also see attractive opportunities for our private funds and Asco

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