CapitaLand Investment’s (CLI) wholly-owned lodging business unit, The Ascott has set a target to sign 150 properties with over 30,000 units under its lyf co-living brand by 2030.
Ascott currently has 17 lyf co-living properties with over 3,200 units in 14 cities and nine countries.
This year, The Ascott plans to open five more lyf properties in cities: Bangkok, Cebu, Kuala Lumpur, Melbourne and Xi’an. Come 2025, another five are slated to open in Beijing, Danang, Ho Chi Minh City, Manila and Paris.
The Ascott, on April 11, officially opened the 324-unit lyf one-north Singapore and is designed to meet the co-living needs of people working in start-ups and research institutes in the vicinity.
The property is held by Ascott Residence Trust, which is sponsored by The Ascott.
CLI closed April 11 at $4.04 down 0.25% for the day, up 16.09% year to date.
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Ascott Residence Trust, meanwhile, closed the day at $1.10, down 0.9% for the day and up 5.77% year to date.
