lyf Wu Tong Island Shenzhen
Ascott’s Lyf Brand Trailblazes With Three Properties In China And Singapore
CapitaLand"s wholly owned serviced residence business unit, The Ascott Limited (Ascott), has secured contracts to manage its first three properties under its latest brand, lyf, in its two key markets – China and Singapore. This marks the launch of Ascott"s new co-living concept in China as Ascott seizes to capture the booming millennial market and shape the future of travel. Signifying a new way of living and collaborating as a community, Ascott is showcasing its first lyf property today, the 112-unit lyf Wu Tong Island Shenzhen which will open in the first half of 2018. The 120-unit lyf DDA Dalian is scheduled to open in end 2018 while lyf Farrer Park Singapore, the biggest of the three lyf properties with 240 units, is slated to open in 2021.
Located in the economic zone or innovation park, these three lyf properties will provide conducive environments in which innovation and creativity can thrive. lyf Wu Tong Island Shenzhen is situated in an innovation park named Wu Tong Island that has 24 office buildings leased to firms in the technology, design, media and tourism industries. 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 is conveniently located in the Central Region of Singapore and a short 15-minute drive from the Central Business District. Please refer to the Annex for more information on these lyf properties. Ascott first unveiled the lyf brand in Singapore in November 2016, and it set up the serviced residence industry"s first-of-its-kind living lab to field test co-living concepts for lyf in February 2017. Working in partnership with the Singapore Management University, the lyf@SMU living lab will translate data into actionable insights so that upcoming lyf properties are tailor made for Ascott"s target customers.