The Ascott Limited (Ascott) has signed contracts for the management of its first three properties to fall under its latest brand, lyf, in two of the company’s key markets – China and Singapore.
The first of the lyf-branded properties, lyf Wu Tong Island Shenzhen, will comprise 112 units and is scheduled to open in the first half of 2018.
The 120-unit lyf DDA Dalian is slated to open at the closing of 2018, while the 240-unit lyf Farrer Park Singapore, the largest of the three lyf properties, will open its doors in 2021.
CEO, Ascott, Lee Chee Koon spoke of the projects: “Since Ascott unveiled the lyf brand in Singapore last November, we have received very strong interest in this new co-living concept designed by millennials for the growing wave of millennial and millennial-minded travellers, such as technopreneurs, startups and those in the creative industries. We are excited to be launching lyf in China with two properties and to have secured our first in Singapore.
“These trailblazing lyf properties not only enjoy prime locations with a ready catchment of business and leisure travellers, they also offer vibrant spaces for these change-makers to build new connections and co-create with the community therein,” he added.
All three lyf properties will provide innovative and creative environments. Lyf Wu Tong Island Shenzhen is located in an innovation park named Wu Tong Island, consisting of 24 office buildings leased to firms in the technology, design, media and tourism industries, while lyf DDA Dalian is in the Dalian Development Area (DDA), China’s first Economic and Technological Development Zones that is home to start-ups, local and foreign enterprises, including Fortune 500 companies.
lyf Farrer Park Singapore boasts a convenient location in the Central Region of Singapore, and is a short 15-minute drive from the Central Business District.
lyf properties cater to global jetsetters and trendsetters wishing to ‘live their freedom’ in a dynamic environment and network with like-minded creatives.
With the addition of the three lyf properties, Ascott’s portfolio in Singapore will increase to over 1,200 units, and over 17,600 units in China.