France: Ascott has entered into an agreement to acquire a property in Paris for the development of the first and flagship lyf property in Europe, lyf Gambetta Paris, set to open in 2024.
Located in a former printing house, the first lyf-branded property in Europe will be situated in Paris’ 20th arrondissement. The 139-unit coliving property will offer double rooms; twin rooms; studios with kitchens; and paired rooms with private bathrooms and a common kitchen.
Other facilities include a coworking and lounge zone, a gym, and a bar.
lyf Gambetta Paris was designed by Fabien Roque, an interior architect specialising in the creation of hotels, luxury apartments and villa projects in France and around the world.
The site is be less than a five-minute walk from Gambetta Metro Station. Paris’ Charles de Gaulle Airport is a 25-minute drive away.
Ngor Houai Lee, Ascott’s managing director for Europe, said: “The signing of the first lyf residence in Paris marks a key milestone in the development of our brand dedicated to coliving in Europe. We see strong potential for expansion in cities with a growing community of startups like Paris. lyf Gambetta Paris will offer travellers a new dynamic living, working and leisure experience where they can connect and enjoy private and collaborative spaces. We plan to open a total of 17 lyf properties in Australia, China, France, Japan, Malaysia, Philippines, Singapore, Thailand and Vietnam by 2025, and we will keep expanding with new projects in Europe.”
