SINGAPORE (EDGEPROP) - Ascott, CapitaLand’s wholly-owned lodging business unit, has opened lyf Funan Singapore, the largest coliving property in Southeast Asia. It is also the world’s first property under Ascott’s new ‘lyf’ coliving brand.

Managed by millennials for millennials and millennial-minded, lyf Funan Singapore is an integral part of CapitaLand’s Funan integrated development, which also comprises two office blocks and a mall offering cutting-edge retail concepts, coworking spaces, to name a few.

Spanning about 121,000 sq ft, the nine-storey lyf Funan Singapore houses 412 rooms across 279 apartments. Catering to both short and long stays, lyf Funan Singapore is targeted at leisure and business travellers, expatriates, global assignees, and digital nomads. Units at lyf Funan Singapore range from 194 sq ft ‘One of a Kind’ studios, to 1,130 sq ft ‘All Together’, a six-room unit.

lyf Funan Singapore will be managed by lyf Guards – millennials who may be community managers, city and food guides, bar keepers, event organisers, and problem solvers all rolled into one.

Seven more lyf properties are to be opened over the next three years, according to Mindy Teo, Ascott’s deputy managing director of lyf. Ascott plans to open lyf in Bangkok, Fukuoka, Kuala Lumpur, Cebu and Shanghai by 2022.

“Besides the countries where we have lyf, we are exploring to introduce lyf, via investment, management contracts or leases, to key gateway cities in Australia, France, Germany, Indonesia, Netherlands, South Korea and the United Kingdom,” adds Teo.

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