Danish innovator in residential housing signs agreement with Norwegian real estate giant
LifeX enters into a long-term operator agreement with the Norwegian real estate giant, Carucel, for the rental and operation of 600 units in Oslo
The first Norwegian tenants can look forward to moving into one of 600 homes that LifeX will manage under their innovative serviced housing concept as early as this year. The tenants, fondly known as members, are offered a number of extra services to help make their everyday lives easier.
The homes are all furnished with beautiful, Danish design furniture and cleaning, as well as other necessities such as internet and utilities are included in the price. In addition, LifeX gives tenants the opportunity to live in a modern housing community, allowing young professionals to easily grow their networks when moving to a new country. With a serviced and furnished apartment along with a bustling community of individuals from all over the world, tenants can quickly build up a social network and experience a smooth transition into their new homes.
It is this modern approach to housing that was the reason the Norwegian real estate company, Carucel, chose to collaborate with LifeX to operate their properties.
"Through LifeX, we have the opportunity to offer our tenants something completely unique. LifeX's great focus on service, their self-developed software platform and their unique approach to actively supporting modern housing communities was a key deciding factor for us to choose them as a trusted partner. We clearly see that convenience is something that our tenants demand more and more, and in the long run it can help to differentiate us from our competitors.” says Pierre Puggaard, Residential Director at Carucel Eiendom.
LifeX was founded in 2017 and to date has served more than 3,500 satisfied tenants with operator agreements in place for over 3,000 homes in big cities across Europe such as Berlin, Paris, London, Copenhagen and Munich. In Copenhagen alone, LifeX offers around 500 serviced homes in collaboration with, among others, Jeudan, Danice Ejendomme, Barfoed and Herbo. In the 4th quarter of 2022, tenants in Aarhus can also look forward to staying in a LifeX home as, in collaboration with Emilienborg, the company looks to open its first 20 homes for rent in the heart of Denmark’s second largest city, with additional units already in the pipeline.
“We find that our business partners choose us because we offer tenants and owners extra value through our attractive serviced housing concept. On top of this, our underlying software platform gives property owners and managers a digital tool that makes their and their team’s lives much easier, and at the same time provides deep insight into the asset’s key performance figures via an online and realtime dashboard. It makes a clear difference to the bottom line. Our concept’s core advantage is that we improve the owner’s value chain,” says Ritu Jain, Co-Founder of LifeX.
LifeX’s technology makes operations teams more efficient by digitizing housing contracts and automating tenant processes such as key handovers, invoicing and issue resolution. With new, strong partnerships, the future for LifeX looks more than positive. LifeX expects to reach an annual turnover of around DKK 80 million in 2022, with exponential growth in the coming years.
LifeX is a Danish founded company that offers operation of residential properties for owners and asset managers. Its partners are large and small real estate companies and administrators across multiple major European cities. LifeX was founded in 2017 by Sune Theodorsen and Ritu Jain, who had the vision of making anyone feel at home anywhere in the world.
About Carucel
Carucel is a leading Norwegian, privately owned, real estate development company. Carucel’s investments include a diverse real estate portfolio consisting of prime retail, office, resorts, logistics and residential properties, mainly located in Oslo, Norway. Carucel manages and develops fully and partly owned properties with a gross value of approximately NOK 12 bn.
