Ascott Unveils 32,000-square Feet Living Lab To Field Test Co-living Concepts Of Lyf

Singapore – CapitaLand's wholly owned serviced residence business unit, The Ascott Limited (Ascott) has launched its first living lab to field test its newest brand, lyf, that is designed for and managed by millennials, in partnership with the Singapore Management University (SMU). Named lyf@SMU, Ascott will simulate a lyf product at SMU to test out various co-living concepts, enabling its students to be the first in the world to experience and shape upcoming lyf properties.

Mr Lee Chee Koon, Ascott's Chief Executive Officer, said: "Creative co-innovation is a key focus for lyf, Ascott's latest brand that is designed and operated by millennials who want to influence and define their own travel experiences. Following the launch of lyf last November after extensive market research, Ascott has now set up the serviced residence industry's firstof-its-kind living lab in Singapore. We will be directly engaging the more than 1,200 millennials expected to visit lyf@SMU daily to field test various co-living concepts and community building activities. With each of the students clocking an average staying time of about four hours, we will be building up a sizeable data reservoir of user preferences and space usage patterns. The data will be translated into actionable insights to better tailor lyf to their needs as they prepare to become working professionals, our main target customers of lyf." "The cosmopolitan city of Singapore is an ideal ground for Ascott to innovate, test-bed cutting edge hospitality concepts, and gather insights from well-travelled millennials with increasing spending power. We are of course also actively seeking and evaluating opportunities for

"The cosmopolitan city of Singapore is an ideal ground for Ascott to innovate, test-bed cutting edge hospitality concepts, and gather insights from well-travelled millennials with increasing spending power. We are of course also actively seeking and evaluating opportunities for lyf in several other cities and will be reaching out to millennials through Ascott's global network to further adapt lyf as we roll it out." In line with

In line with lyf's focus to provide authentic local experiences and for each property to be unique, the living lab is located in the city centre within the former home of Singapore's renowned Malaya Publishing House built in the 1900s. Fun and quirky design elements are cleverly infused within the Edwardian-style conservation building to pay homage to its print heritage. lyf@SMU will be open 24/7 for all SMU students from 27 February 2017. With more than 32,000 square feet spread over three storeys, there are co-working lounges with modular furniture, large communal tables at the social pantry with interactive voting boards, multimedia rooms to encourage collaboration and

With more than 32,000 square feet spread over three storeys, there are co-working lounges with modular furniture, large communal tables at the social pantry with interactive voting boards, multimedia rooms to encourage collaboration and free flow of ideas, days beds and napping pods. As part of lyf's concept to enable guests to 'Live Your Freedom' and connect with like- The Ascott Limited (Regn No: 197900881N) 168 Robinson Road #30-01 Capital Tower Singapore 068912 t (65) 6713 2888 f (65) 6713 2121 www.the-ascott.com "we define global living" minded creatives to bring ideas to life, Ascott will test out recreation areas where students can rock out in the soundproof music jamming studio, pedal up a sweat on the bike to power up their mobile phones or head to the exercise zone for a game of foosball or table tennis. Feedback from the millennial students will influence how Ascott continues to evolve the design of lyf's social spaces.

lyf enables guests to be part of a buzzing community and experience the destinations as locals do. At lyf@SMU, Ascott will organise various social activities to identify those that best resonate with the millennials, bringing together local artisans, entrepreneurs and technopreneurs. Students will be invited to co-create community programmes and co-organise or take part in TED talks, workshops and hackathons. SMU students can also sign up to be lyf guards at lyf@SMU to gain hands-on hospitality management skills.

Professor Arnoud De Meyer, SMU President, said: "As we further strengthen SMU's curriculum and offering, I am delighted that we found a like-minded partner in Ascott. In our multi-dimensional partnership – which includes incubating new spaces for millennial students, developing new SMU courses and projects, creating internship opportunities – our students will stand to gain the most. Ascott will be leveraging the mobile sensing technology from one of SMU's research labs, the LiveLabs Urban Lifestyle Innovation Platform, to gather data on millennial students. Ascott will also be partnering with SMU on a 'Design Thinking' course in August 2017, where students will work on two projects related to the branding and development of lyf."

With a target to have 10,000 units under the lyf brand globally by 2020, Ascott has set its sights to roll out lyf in gateway cities of markets like Australia, China, France, Germany, Indonesia, Japan, Malaysia, Singapore, Thailand and the United Kingdom.

Please refer to the annex for more information on the features of lyf@SMU.

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit http://www.capitalandinvest.com/ for more information.

Joan Tan
Assistant Vice President, Corporate Communications
+65 6713 2864
The Ascott Limited