Ascott opens Japan’s first lyf coliving property in bustling Fukuoka


lyf continues its strong growth with the opening of 12 other properties in 10 cities in Asia-Pacific.

Singapore – CapitaLand’s wholly-owned accommodation business unit The Ascott Limited (Ascott) to open Lyf Tenjin Fukuoka, Ascott’s first lyf-branded coliving property in Japan on June 16, 2021. lyf Tenjin Fukuoka is the first of six lyf properties slated to open this year in Singapore, Hangzhou, Shanghai and Xi’an, while Ascott is preparing to meet high demand from customers and owners for the unique lyf coliving product.

The 131-unit Lyf Tenjin Fukuoka is strategically located in Tenjin, Fukuoka’s main shopping and entertainment center, and is also close to the business district. The coliving property is also near the trendy neighborhoods of Daimyo and Imaizumi, surrounded by large malls, vintage stores, boutiques, local street food stalls, chic cafes, and vibrant nightlife. lyf Tenjin Fukuoka is close to cultural attractions such as Kushida Shrine and Tochoji Temple. It’s a five-minute walk from Nishitetsu Fukuoka and Tenjin Minami stations and a 20-minute drive from Fukuoka Airport. The property is also part of Resola Imaizumi Terrace by NTT Urban Development, a development with commercial, retail and food and beverage components.

Ascott currently owns a total of 15 lyf properties with over 3,000 units in 12 cities and eight countries, including three properties that have opened and 12 under development. lyf Tenjin Fukuoka follows the opening of lyf Funan Singapore and lyf Sukhumvit 8 Bangkok. The five properties scheduled to open in 2021 are lyf Farrer Park Singapore and lyf one-nord Singapore as well as lyf Midtown Hangzhou, lyf Hongqiao Shanghai and lyf Dayanta Xi’an in China. Between 2022 and 2024, seven other lyf properties are expected to open in Beijing, Cebu, Danang, Kuala Lumpur, Manila, Melbourne and Shanghai.

m Tan lai seng, Ascott’s regional director for Japan and Korea, said: “As a hybrid accommodation solution that combines the best of apartment hotels, hotels and coliving apartments, we are confident that our first lyf property in Japan will meet the demands of guests looking for flexibility, value and a rewarding community experience. Designed for the next generation of guests such as digital nomads, technopreneurs, creatives and self-taught, lyf Tenjin Fukuoka enables guests to live, work and play in a dynamic environment as well as connect and collaborate in as a community.

“Lyf Tenjin Fukuoka’s flexible common spaces and organized social programs allow us to take advantage of the growing interest of travelers to interact with locals or enjoy local culture or unique experiences.[1]. From the central location of Lyf Tenjin Fukuoka, guests can also experience Fukuoka’s rich cultural and contemporary offerings. We anticipate strong domestic demand for Lyf Tenjin Fukuoka, including businesses and vacationers from major cities such as Tokyo and Osaka as well as other Kyushu cities. We will continue to seek suitable opportunities to develop the lyf brand in Japan, while deepening Ascott’s presence in the country ”, Mr. Tan added.

Despite COVID-19, Ascott remains resilient in Japan and its assisted living facilities have maintained high occupancy rates. Its rental housing[2] achieves a high occupancy rate of over 95%. Japan remains a very popular travel destination with over 55% of travelers to Asia and 24% of travelers to Europe, the United States and Australia citing Japan as their main travel destination.[3].

Leveraging Ascott’s award-winning in-house design expertise, lyf Tenjin Fukuoka is uniquely designed to showcase the culture and charm of Fukuoka as a port city, as well as the flavors of the property’s location across creative spaces and works of art within the property.

Notes:

[1] JTB Corporation – Potential Travel Trends in 2020

[2] Held under the Ascott Hospitality Trust, Ascott Residence Trust

[3] Development Bank of Japan and Japan Travel Bureau – Survey of Tourist Travel to Japan from Asia, Europe, United States and Australia (2020)


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