CapitaLand's wholly-owned lodging business company, The Ascott Ltd (Ascott), is set to open its first lyf-branded co-living property in Kuala Lumpur.
The property branded lyf Raja Chulan Kuala Lumpur was apparently supposed to open in 2020.
The 12-storey property houses 104 units and is located along Jalan Raja Chulan.
lyf (pronounced life) is a hospitality concept that creates dynamic co-living spaces for digital nomads, technopreneurs, creatives, and self-starters.
According to a statement, Ascott will also open a lyf-branded property in Bangkok, Cebu, Melbourne, Shanghai, and Xi'an this year.
With the six new additions, Ascott will have 18 lyf properties with over 3,300 units in 14 cities across nine countries.
The firm recently launched lyf one-north Singapore, its first co-living property in one-north, Singapore's research and innovation hub.
It is the second lyf-branded co-living property in Singapore, following the opening of lyf Funan Singapore in 2019.
The 324-unit lyf one-north Singapore will cater to the hospitality and co-living needs of innovative start-ups, R&D companies, and high-tech and media corporations.
The co-living property, which consists of two towers joined by a link bridge, is aimed to encourage connection, wellness, and community-building.
lyf one-north Singapore, according to Norman Cross, head of the lyf brand and general manager of lyf operations in Singapore, will answer the desire of next-generation travellers seeking a unique stay by combining the finest of serviced homes, hotels, and co-living apartments.
"With the gradual recovery of travel, higher vaccination rates and the introduction of more vaccinated travel lanes, a huge uptick in business travel is expected this year," he said in a statement.
According to him, lyf Funan Singapore, Asia's largest co-living property, outperformed its counterparts with an average occupancy rate of over 85 per cent.
"We are confident that lyf one-north Singapore will perform well and provide a memorable and safe home away from home for our guests," he said.