Ascott opens co-living space for millennials

The nine-storey lyf Funan Singapore spans 121,000 sqft and has 412 rooms.

CapitaLand’s lodging business unit Ascott Limited has opened lyf Funan Singapore, the largest co-living property in Southeast Asia, an announcement revealed.

The property is also the first under Ascott’s new lyf co-living brand that is reportedly “managed by millennials, for the millennials, and millennial-minded.”

lyf Funan Singapore is the first of four planned properties to be launched by Ascott this year.

Also Read: Ascott to open four new properties by end-2019

Located at the heart of Singapore’s Civic and Cultural District, the nine-storey lyf Funan Singapore spans about 121,000 sqft in gross floor area and has 412 rooms across 279 apartments. A sheltered walkway connects the property to the City Hall MRT interchange.

lyf Funan Singapore is located at CapitaLand’s Funan integrated development, which comprises two office blocks and a mall. It is  also near the Raffles City Singapore and the National Gallery Singapore.

“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. Our lyf properties are specially designed to cater to millennials’ craving for social connections, collaboration and co-creation,” said Mindy Teo, deputy managing director of lyf.

Teo shared that Ascott also has seven more lyf properties to be opened over the next three years. “We will open lyf in Bangkok, Fukuoka, Kuala Lumpur, Singapore, Cebu and Shanghai by 2022,” she added.

Ascott also plans to open other lyf properties in cities in Australia, France, Germany, Indonesia, Netherlands, South Korea and the United Kingdom.