lyf Bugis Singapore to be unveiled mid-2024

lyf Bugis Singapore — Photo by CapitaLand Investment

The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment (CLI) and CapitaLand Wellness Fund(C-WELL), have jointly acquired a freehold lodging property in Singapore. Ascott and C-WELL each holds a 50% stake in the lodging property.

This is C-WELL's first acquisition since announcing its first close in end-October 2023. C-WELL is CLI's inaugural wellness and healthcare-related real estate fund anchored in Southeast Asia. The value-add fund will focus initially on Singapore, Thailand and Malaysia. With a target fund size of S$1 billion on an upsized option, C-WELL will invest in single or mixed-used assets that span the healthcare, medical, wellness and preventive care spectrum.

Located in Singapore's downtown core district within walking distance to both Bugis and Bencoolen MRT train stations, the 308-unit property will be upgraded and rebranded under Ascott's award-winning lyf (pronounced 'life') brand as demand for experience-led social living grows. The property will remain operational throughout the renovation period and be unveiled as lyf Bugis Singapore in mid-2024.

lyf Bugis Singapore will focus on health and active wellness, offering a wide range of amenities including shared spaces and dining options that provide opportunities for social interaction, and fitness facilities that enable guests to stay healthy while on the go. In-house wellness activities curated by the property's Ambassador of Buzz will not only encourage meaningful engagement amongst guests, but also seek to drive mindfulness for individuals. A comprehensive suite of telehealth, telecounselling and travel security advisory services will be available to guests at lyf Bugis Singapore as part of Ascott CARES commitment to improve the overall wellness of its guests. Partnerships with healthcare and wellness operators are also being planned to offer guests easy access to medical services.

lyf Bugis Singapore is set to be a green-certified property. The property will include sustainability features such as a room occupancy detection system and an upgraded cooling system. The property is expected to obtain the Green Mark Gold^PLUS certification from Singapore's Building & Construction Authority.

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