News: Ascott opens largest coliving property in Southeast Asia

Sep 6, 2019

lyf Funan Singapore offers 412 rooms across 279 apartments. It offers five interchangeable apartment types that range from 18 sq m to 105 sq m to accommodate singe, dual or group bookings. Image credit: Ascott

The Ascott Limited, the lodging business unit of CapitaLand, has opened lyf Funan Singapore – Southeast Asia’s largest coliving property.

In an SGX filing, Ascott revealed that it is also the first property under its new ‘lyf’ coliving brand that is managed by millennials for the millennials and millennial-minded.

With a gross floor area of 121,000 sq ft, lyf Funan Singapore offers 412 rooms across 279 apartments. It is located within Singapore’s civic and cultural district and is connected via a sheltered underground walkway to the City Hall MRT interchange.

The nine-storey coliving property is part of CapitaLand’s Funan integrated development, which also features a mall and two office blocks.

It offers five interchangeable apartment types that range from 18 sq m to 105 sq m to accommodate singe, dual or group bookings.

These include One of a Kind, a studio unit measuring 18 sq m; Two of a Kind (43 sq m), which comes with two private rooms and a shared kitchenette; and the All Together apartments (41 sq m to 105 sq m), which is ideal for groups of up to nine individuals.

“Millennial and millennial-minded travellers can look forward to a dynamic live-work-play experience given the collaborative spaces, social programmes and strategic location of lyf Funan Singapore,” said Mindy Teo, Ascott’s deputy managing director of lyf.

She noted that the booming millennial segment, which is the fastest-growing travel demographic, already forms a quarter of Ascott’s customer base and is expected to grow.

With this, she revealed plans to open seven more lyf properties in Bangkok, Kuala Lumpur, Fukuoka, Singapore, Shanghai and Cebu by 2022.

“Besides the countries where we have lyf, we are exploring to introduce lyf, via investment, management contracts or leases, to key gateway cities in Australia, France, Germany, Indonesia, Netherlands, South Korea and the United Kingdom,” she added.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

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