SINGAPORE: Ascott targets 150 properties under its lyf coliving brand by 2030 and launches a lyf Innovation Lab
The announcements were made at the official opening of lyf one-north Singapore .
Kevin Goh, CLI’s chief executive officer for lodging, said: “Our first lyf property – lyf Funan Singapore achieved an 80 per cent occupancy level within three months of its opening in September 2019. lyf one-north Singapore welcomed our first guest in November 2021, and we have already achieved a strong occupancy rate of above 85 per cent today. We see the potential to expand our lyf portfolio to 150 properties by 2030.”
The 324-unit lyf one-north Singapore will be an integral part of one-north, Singapore’s research and innovation hub.
Goh said: “A unique lodging product in a class of its own, Ascott developed lyf as a solution that combines the best of serviced residences, hotels and coliving apartments.”
The coliving property is aimed at innovative start-ups, research and development firms, as well as high-tech and media enterprises located nearby.
At the opening, Ascott also announced the launch of the lyf Innovation Lab to power up its digital-enabled offerings in a bid to be part of the metaverse.
Created in collaboration with Temasek Polytechnic’s School of Informatics & IT, the lyf Innovation Lab will explore, design and testbed immersive virtual reality (VR) and augmented reality (AR) technologies and digital experiences for lyf.
Tan Bee Leng, Ascott’s managing director for brand and marketing, said: “The lyf brand has always been advocating new ways of living and forming communities. We are now enhancing our lyf community building efforts beyond the walls of our apartments and the lyf social spaces. Tapping on VR and AR technologies, lyf is aiming to offer a borderless experience to our guests in the virtual realm.”
The step into the meta verse means guests looking for a workout will be able to spar over a game of virtual tennis and connect with other guests.’
Tan Bee Leng added: “These virtual experiences will allow guests at lyf to explore, engage and interact with lyf as well as with one another like never before.”
lyf one-north Singapore will serve as a ‘living lab’ for field testing these digital innovations. Successful pilots will eventually be implemented across other lyf properties worldwide.
Ascott has opened seven lyf properties in Singapore, China, Japan and Thailand.
The expansion will bring lyf’s units to more than 30,000 units in 2030.
