Mainboard-listed LHN's Coliwoo serviced apartment franchise has been providing affordable rental accomodation in Singapore for several years.
Since LHN bought its first property in 2020, the Coliwoo brand has grown to 2,100 keys (keys denote rooms in the hospitality industry). When The Straits Times met LHN's founder and chief executive officer Kevin Lim last week, he forecast adding 800 rooms every year going forward.
Mr Lim sees a rising demand for affordable rental properties in land-scarce Singapore as it attracts both expatriates and holidaymakers. Then there are young Singaporean couples looking for places to rent while awaiting the completion of their HDB Build-To-Order flats.
The Coliwoo concept is simple. The brand started out with tenants sharing common facilities like the kitchen and living room.
But following the Covid-19 pandemic, the concept has been somewhat rejigged. Today, newer apartments have their own kitchenettes, washing machines, fridges and other small amenities that were previously shared. The only shared facilities are the common lounges, gyms, cafes and swimming pools.
In short, Coliwoo now operates small serviced apartments.
This was evident when ST visited LHN's latest Coliwoo facility at its Mount Elizabeth Link converted apartment building in the Orchard area.
The co-living accommodation boasts independent rooms and amenities, with contemporary furnishings that exude a cool and young vibe.
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