LHN (Coli)-woos investors with more rooms, divestments as it seeks transfer to big board
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 modern concept of communal living, with its promise of affordability and flexibility, has become popular, not just among foreign students and expatriates to whom co-living has long appealed. More Singaporean young adults and couples are also ditching conventional accommodation to embrace shared residential spaces owing to lifestyle changes.
Co-living initially exploded amid the startling supply-demand imbalance in Singapore residential properties – no thanks to the pandemic. While these market dynamics appear to be gradually regaining their sensibilities, other factors are now keeping the boom in short-stay accommodation going.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone