Hong Kong formally withdraws extradition bill; Singapore's GDP forecast lowered

SINGAPORE (Sept 9): After 13 long weeks of protests in Hong Kong, an end to the political crisis in the Special Administrative Region may be in sight. On Sept 4, the city’s embattled leader Carrie Lam formally announced the withdrawal of the extradition bill, meeting one of the five demands of the protesters.


Ascott wins contracts to manage 14 new properties including three under lyf

SINGAPORE (Apr 9): The Ascott Limited, CapitaLand’s lodging business unit, has won contracts to manage 14 properties with over 2,000 units in China, Germany, India, Indonesia, Japan, Malaysia, Thailand and Saudi Arabia.

The 14 new properties included Ascott’s first foray into Changchun, the second largest city in Northeast China, as well as Germany’s first Ascott The Residence with the 100-unit Ascott Riverpark Tower Frankfurt.

Ascott REIT to build 324-unit coliving property at $62.4 mil one-north site

SINGAPORE (Sept 20): Ascott Residence Trust (Ascott REIT) has acquired a prime greenfield site at one-north for $62.4 million to build its first co-living property.

To be named lyf one-north Singapore, the property will offer 324 units. It is slated to achieve Temporary Occupation Permit by 2020 and open in 2021.

The site is located at Nepal Hill, where there is a thriving research and innovation community comprising 400 companies, 800 startups and 50,000 professionals.

Ascott to invest $170 mil in Funan’s co-living component

SINGAPORE (Aug 4): The Ascott Limited is investing $170.3 million in the serviced residences component of the Funan integrated development through its fund with Qatar Investment Authority (QIA).

In a press release on Friday, the wholly-owned serviced residence business unit of CapitaLand says that out of the $170.3 million, $90.5 million will be used to acquire the land for the development from CapitaLand Mall Trust (CMT).

Ascott partners SMU to launch living lab to field-test lyf

Credit: SMU

SINGAPORE (Feb 23): The Ascott Limited, CapitaLand’s serviced residence business unit, is partnering Singapore Management University to launch a lab to field-test co-living concepts of its newest brand, lyf.

Named [email protected], Ascott will simulate a lyf product at SMU to test out various co-living concepts, enabling its students to be the first in the world to experience and shape upcoming lyf properties.

Ascott targets millennials with new co-living hospitality brand, Lyf

SINGAPORE (Nov 24): The Ascott Limited, CapitaLand’s serviced residence unit, has launched a new co-living hospitality concept brand Lyf, pronounced ‘life'.

By 2020, the new brand aims to have 10,000 units under the brand globally.

According to Ascott in its statement on Thursday, the brand’s accommodation has been “designed for and managed by millennials who wish to experience destinations as locals do”.

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