Ascott to open lyf co-living property in Fukuoka, Japan

CAPITALAND'S The Ascott on Tuesday said it will be opening its first lyf-branded co-living property in Japan on Wednesday.

The property, lyf Tenjin Fukuoka, is the first of six lyf properties slated for opening this year in Singapore, Hangzhou, Shanghai and Xi'an.

The 131-unit lyf Tenjin Fukuoka is part of the Resola Imaizumi Terrace by NTT Urban Development, a development with commercial, retail and food and beverage components.

It is located in Tenjin, a major shopping and recreational centre in Fukuoka, as well as near the business district. The co-living property is also within the vicinity of the Daimyo and Imaizumi areas and close to cultural attractions such as Kushida Shrine and Tochoji Temple.

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

Ascott regional manager for Japan and Korea Tan Lai Seng said Ascott is confident that the first lyf property in Japan will meet the demands of guests seeking flexibility, value and an enriching community experience.

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"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," he said.

Ascott's Japan portfolio consists of over 5,500 units across 30 serviced residences, co-living and rental housing properties as well as hotels in nine cities, including gateway cities like Tokyo, Osaka and Kyoto.

Ascott expects to open a Citadines-brand property in Yokohama in 2023, its first property in the city.