- LHN (SGX:41O) reported solid 3Q23 operating metrics with stable rental rates and improving occupancy for its Collwoo projects (total of 2,064 keys). Meanwhile, its facilities management, carpark and energy subsidiaries continue to secure new contracts.
High occupancy rate of new assets
- - Read this at SGinvestors.io -
- As of 7 Sep 2023, its three new co-living assets, i.e. Coliwoo Orchard/Lavender/298 River Valley, had healthy occupancy level of 90%/85%/100%, respectively.
- Since Aug 2023, LHN has grown its portfolio with the acquisition of 286 & 288 River Valley and 99 Rangoon Road. LHN plans to convert the latter into a 32-room student hostel with retail/F&B on the 1st floor. The total cost (including renovation of S$1.5m) is up to S$16m.
- - Read this at SGinvestors.io -
Firing on all cylinders
- The facilities management arm secured 35 new contracts and retendered for 22 for services that range from cleaning, disinfecting, pest control, landscaping, minor building improvements, and integrated FM (facilities management) smart tech solutions.
- LHN launched 6 new carparks since May 2023, taking the total to 760 parking lots.
- LHN is actively expanding its energy business portfolio. To date, it has successfully installed and manages 21 solar energy projects with a combined capacity of 3.1 megawatts of renewable energy. Another four projects are in progress and are expected to contribute 0.6 MW.
Commits to more capital recycling
- Read more at SGinvestors.io.
