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Ascott bags contracts to manage 14 properties across 8 countries

3 are branded under the company's co-living "lyf" brand, which is targeted at the growing client base of millennials

Published Tue, Apr 9, 2019 · 09:50 PM

Singapore

CAPITALAND's serviced residence arm The Ascott Ltd has secured contracts to manage 14 properties with over 2,000 units across eight countries, the group announced on Tuesday. The countries include China, Germany, India, Indonesia, Japan, Malaysia, Thailand and Saudi Arabia.

Three of the 14 new properties are under its co-living "lyf" brand. They will be located in Fukuoka, Japan, Kuala Lumpur, Malaysia and Shanghai, China.

Under a partnership inked with Japanese real estate firm NTT Urban Development Corporation, Ascott will manage lyf Fukuoka and jointly explore serviced residence opportunities in Japan, Ascott said. The 131-unit property, nestled within Fukuoka'…