Lodging business The Ascott Limited has entered an agreement to purchase a property that will serve as the first European location for its hybrid arm lyf.
This new Paris location will also be lyf’s first flagship property in Europe and is set to open in 2024.
It will offer members access to apartments, social spaces, and unique programs geared towards digital nomads and similar professionals.
Situated in a former printing house, lyf Gambetta Paris will include 139 units of coliving space with various layouts, as well as other facilities such as a coworking lounge, a gym, a bar, and even a kitchen made for socializing.
“The signing of the first lyf residence in Paris marks a key milestone in the development of our brand dedicated to coliving in Europe,” said Ngor Houai Lee, managing director for lyf Europe. “We see strong potential for expansion in cities with a growing community of startups like Paris.”
Lee added that lyf aims to open 17 new properties across Australia, China, France, Japan, Malaysia, Philippines, Singapore, Thailand, and Vietnam by 2025.