SINGAPORE (EDGEPROP) - The Ascott, CapitaLand’s wholly-owned lodging business unit, is set to open its first co-living property in Fukuoka city, Japan on June 16. (See also: Ascott provides lodging support to healthcare workers)

lyf Tenjin Fukuoka comprises 131 units in Tenjin, the major shopping and recreational centre of Fukuoka, and is also close to the business district. It is also within close proximity to major malls, vintage stores, boutique outlets, local street food stalls, and cultural attractions like the Kushida Shrine and Tochoji Temple.

The property is a five-minute walk from the Nishitetsu Fukuoka and Tenjin Minami train stations, and a 20-minute drive from the Fukuoka Airport.

“We expect strong domestic demand for lyf Tenjin Fukuoka including corporates and leisure guests from major cities such as Tokyo and Osaka as well as other cities in Kyushu,” says Tan Lai Seng, Ascott's regional manager for Japan & Korea.

Despite the pandemic, Ascott maintains that its rental housing properties enjoy an occupancy rate of over 95%.

It now has a total of 15 lyf properties with over 3,000 units in 12 cities and eight countries, comprising three properties that have opened and 12 under development. lyf Tenjin Fukuoka follows the opening of lyf Funan Singapore and lyf Sukhumvit 8 Bangkok.

Later in the year,  it plans to open lyf Farrer Park Singapore, lyf one-north Singapore, as well as lyf Midtown Hangzhou, lyf Hongqiao Shanghai and lyf Dayanta Xi’an in China.