THINGS have been falling nicely into place for LHN, the co-living operator listed on Catalist. “We didn’t expect demand to be so great. We thought that the business would grow constantly, (but) not exponential(ly),” said the group’s executive chairman and managing director Kelvin Lim, in an interview with The Business Times.
The rapid growth of the co-living concept, in part due to the tight rental market and sky rocketing rental prices, has presented an opportunity for operators to expand. With that, Singapore’s largest co-living operator Coliwoo, has launched its 14th property to date in River Valley, with a strategic twin acquisitions of two more properties in the area, to strengthen its market share.
Renovating your home or looking for a place to rent? We visited coliving properties at Coliwoo around Singapore to review their rooms, amenities, and accessibility
Analysts have set their eyes on LHN and its growing co-living segment.
As co-living properties owner and operator LHN expands its presence in Singapore to ride on the co-living boom, analysts are taking notice and are initiating their coverage on the stock.
Situated at 2 Mount Elizabeth Link, Coliwoo Orchard boasts 135 units and a total of 411 keys across 22 floors, making it the second-largest Coliwoo property to date, after Coliwoo Boon Lay with 437 keys.
The heat has taken a toll on my family and I. We made the decision to replace all of the aircon units and the leaking aircon trunking after 8 years of use (combined years from the previous owners) in our house. Hence, we were looking for an alternative place to stay during the rather major renovation process.
Kelvin Lim, executive chairman, executive director and group managing director of LHN, believes it is important for businesses to adapt and diversify. And that is what LHN has done since it was founded by Lim’s father in the early 1990s. The company started off in the sawmill and timber trading business, before shifting to property where it has leased out underutilised spaces from 1991 onwards as the timber business started slowing and more space was freed up as a result.
With rents soaring, some young tenants in Singapore have been forced to make a choice – keep their independence and pay higher prices, or move back to their parents’ home.
Like everyone in 2023, expats moving to
Singapore are faced with the reality of
increased cost-of-living expenses. We’re
still experiencing the impact of delays in
housing construction brought upon by
the pandemic. The result? An increased
demand for rental accommodation.