The Ascott Limited, real estate group CapitaLand’s wholly owned lodging business unit and serviced-residence operator, plans to increase its portfolio in Singapore to 17 properties with more than 3,100 units.
Ascott will open four properties in Singapore this year, adding 846 units. These will be lyf Funan Singapore, followed by Citadines Balestier Singapore and Ji Hotel Orchard Singapore in September; Citadines Rochor Singapore is slated to open in December.
lyf Funan Singapore is billed as Asia’s largest co-living property and the world’s first property under Ascott’s lyf co-living brand that is designed for millennials and millennial-minded guests. Located in the Civic and Cultural District as part of the Funan integrated retail and commercial development, it will offer an environment for social networking, collaboration and community building.
With proximity to the Novena MRT station, Citadines Balestier Singapore will sit on a three-story retail podium. The immediate vicinity offers an array of shopping and dining options, and is a short distance from the Orchard Road shopping district and the central business district.
Ji Hotel Orchard Singapore will be within walking distance of Dhoby Ghaut MRT station and CapitaLand’s Plaza Singapura mall and is surrounded by cultural, leisure and retail attractions as well as commercial buildings.
Citadines Rochor Singapore will be part of an integrated development that will comprise a retail podium, Tekka Place. With the Rochor MRT station at its doorstep and two other MRT lines within walking distance, the serviced residence is next to the burgeoning Ophir-Rochor Corridor and Beach Road area, emerging commercial hubs with large-scale integrated developments and recreational spots.
Targeted for opening in 2021, Citadines Connect City Centre Singapore will be Ascott’s first Citadines Connect property in Singapore and will cater to business travelers.
Ascott also is slated to open Citadines Raffles Place Singapore, lyf Farrer Park Singapore and lyf One-North Singapore in the next two years. Other properties include Ascott Orchard Singapore, Ascott Raffles Place Singapore, Citadines Fusionopolis Singapore, Citadines Mount Sophia Singapore, Somerset Bencoolen Singapore and Somerset Liang Court Singapore.