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Investors - JULY 30, 2020

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Ascott’s co-living brand adds 1,000+ units across Australia, China and the Philippines

by Released

Lyf, co-living brand of CapitaLand’s wholly owned lodging business unit The Ascott Ltd., has added more than 1,000 units across six properties in Melbourne, Australia; Beijing, Hangzhou, Shanghai and Xi’an, China; and Manila, the Philippines.

Among the six new properties, Ascott has secured contracts for lyf Malate Manila, its second lyf property in the Philippines, and four new lyf properties across China — lyf Shougang Park Beijing, lyf Midtown Hangzhou, lyf Zhangjiang Shanghai and lyf Dayanta Xi’an. It has also secured its first lyf property in Australia, lyf Collingwood Melbourne.

Kevin Goh, CapitaLand’s CEO for Lodging and Ascott’s CEO, said, “Despite COVID-19 and challenges in the global hospitality industry, Ascott’s diverse portfolio of brands continues to be supported by a stro

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